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E- Commerce and its advantages | Global online Buying and Selling of Products
E – COMMERCE AND ITS ADVANTAGES
E – COMMERCE means buying and selling products online using the internet technologies. There are two key factors in E – COMMERCE . One is security and the other is trust. Many companies have their own websites which provides the facility to order and purchase their products and services. Buying products through internet is very easy and simple.
Some examples for E-commerce sites are:-
MODES of E- COMMERCE
1. Business-to –Business - : In this company selling or buying products or services from other companies.
2. Business-to –Customer-: In this the company websites provides information about product and services. The customer can order any product or service.
3. Digital Middle man-: Which refers to a company which provides the details about several companies on a single web site.This company collect all information from other companies about the same type of products or services. The company hosting the website will get commission in every sale or purchase.
Advantages of E- Commerce.
1. No need to search shops.
2. No need of a sales person for selecting the item.
3. There is no time limit.
4. We can buy products from anywhere in the world.
5. Can avoid travelling to other countries for purchasing products.
6. With a single click we can buy the product easily.
7. We can choose product from all over the world.
8. We can save time and effort.
Payment system -: It accepts electronic payment for online transactions. This is known as EDI (Electronic Data Interchange) . Credit cards are the most commonly used form of payment in e-commerce transactions. Online payment system is very important in internet based banking and shopping sector. Debit card, credit card, charge card also using for payment. Now a days new technologies such as e-cash,e-checks, mobile payment, digital wallets etc. also getting popular among the people. Paypal company also has and important role in online transaction. This type of third party companies are known as payment service providers ( PSP). Smart card can use at various retailers and on the internet and it is similar to credit card and can transfer electronic cash to your card from your bank account.
More Profit in less time :- E- Commerce has an important role in global economy. It becomes very important in modern trading. Modern busy life style needs a faster transaction. So E- Commerce is essential to people. “More pofit in less time”.