What do Ecommerce signify?

Transacting or facilitating business on the Internet is called ecommerce. Ecommerce is short for "electronic commerce."Using plastic cards, trading with clicks, using alone the index finger to purchase goods could only be thought of as day dreaming some 20-30 years ago. The rapid advancement in technology and the powerful emergence of digital communications has transformed the business and trade industry. Since then the Ecommerce sphere has grown tremendously and today the most popular activity over the internet is Online buying and selling.

Sellers create storefronts that are the online equivalents of retail outlets. Buyers browse and purchase products with mouse clicks. Online shoppers like Amazon and eBay have blazed the Online trade industry. Ecommerce has eliminated the geographical boundaries between the business and the consumers, making products and services easily available online with easy clicks. It has become a place where opinions are formed, decisions are made and most importantly products are bought. The convenient, fast and round the clock features, instantaneous secure transactional systems has steered the Ecommerce industry where the demand is ever increasing.

@ Electronic Payments

When you are buying goods online, there needs to be a mechanism to pay online too. That is where payment processors and payment gateways come into the picture. Electronic payments reduce the inefficiency associated with writing and mailing checks. It also does away with many of the safety issues that arise due to payment made in currency notes.

@ Online Auctions

Physical auctions predate online auctions, but the Internet made auctions accessible to a large number of buyers and sellers. Online auctions are an efficient mechanism for price discovery. Many buyers find the auction shopping mechanism much interesting than regular storefront shopping.

@ Internet Banking

Today it is possible for you to perform the entire complexities of banking operations without visiting a physical bank branch. Interfacing of websites with bank accounts and extension of credit cards has become the biggest driver of ecommerce.

@ Online Ticketing

Air tickets, movie tickets, train tickets, play tickets, tickets to sporting events, and just about any kind of tickets can be booked online. Online ticketing does away with the need to queue up at ticket counters.