Ecommerce

Evolution of Ecommerce

E-commerce was founded in the late 1970s and is a process of the execution of commercial transactions which take place electronically with the help of the technologies like Electronic Funds Transfer (EFT) and Electronic Data Interchange (EDI) that gave an opportunity for users to exchange business information and do electronic transactions. Ecommerce became popular in the year 1992, and took another 4 years to develop the security protocol to take care of the security measures in the transactions and Digital Subscriber Line (DSL), these allow quick access and Internet connection. During the Y2K year, Ecommerce provided many goods and services using secure connections and electronic payment services. By, the ends of 2001 B2B made $70 billion in transactions and according to statistics in 2007 sales through Ecommerce were 3.4% of total sales. Major players of Ecommerce were Amazon.com and EBay.

Ecommerce is a virtual world that is evolving according to the customers’ advantage. E-commerce solutions enabled thousands of entrepreneurs to transform their unique ideas into organizations successful business. E-commerce today is still at its nascent stage. Invisible shopping carts, annoyance-free assistance and no lines at the register and many more benefits awaits the future of e-commerce.

The evolution of e-commerce can be accredited to an amalgamation of regulatory reform and technological innovation. Through Internet, e-commerce took off with the World Wide Web (WWW) and web browsers in the 20th century.

• electronic funds transfer (EFT) - funds can be transferred electronically from one organization to another organization.

• electronic data interchange (EDI) – used to electronically transfer humdrum documents from financial transactions to other types of transaction processing.

• interorganizational system (IOS) – a system that allows the movement of information to be automated between organizations in order to reach a desired...