Ecommerce in Today’s World


Once upon a time, ecommerce was just a dream of how life could be lived in some idyllic world. Imagine pushing a button and funds would be transferred around the world. Products could be ordered and received without a middle man operator or salesperson. Pop up automated online assistants would appear to help you make product choice decisions. Banking could be conducted 24 hours a day. Telephones would be equipped with a viewing screen. Well, today that dream has become a reality.

There is no doubt that B2B, or Business to business informational exchanges and sales transactions have been enhanced by ecommerce.

Ecommerce in General
Ecommerce covers many aspects of B2B relations, like buying, selling, employment, informational services (like weather, currency exchange rate), and markedly enhanced communication opportunities. Skype video telephone conferences may be conducted worldwide and at no expense to the user. Instant messaging on computers and cellular devices break down the barriers to inaccessible business executives, with next to no economic boundaries, unless perhaps the server is down!

Hand Held Electronic Devices
No one would have guessed that hand held computerized devices would become affordable and accessible to the common man. Photos of a product may be taken, attached to an email message and sent to a prospective buyer. Email messages may be sent and received, initiating or closing a deal, conducting business in a natural way. Airplane tickets may be ordered online, as well as sporting events – and today the average youngster or businessman does these with a few clicks on their smartphones. Kindle type books may be purchased online then downloaded to be read on the cellular phone itself, making our world a truly paperless society. Hence, today’s times makes it essential for websites and services software’s to be compatible with common handheld devices.

Benefits of Ecommerce – Credit Information
Ecommerce allows a merchant to verify his customers’ borrow ability, if has funds in his bank account or not. The float time of checks allowed a purchaser the luxury of writing a check today, and covering it tomorrow (or in a couple of days).

The banking hours are limited like before. The customer can buy, and the “shops” can sell practically 24X7.

Purchasing Goods and Services
Since ecommerce became mainstream, there has been a marked increase in travel services. Airline tickets, hotel accommodations and transport are often reserved and paid online with visibility and accessibility, as comparison shopping made easier than ever before.

Two major retail giants – Amazon and eBay – are completely online based. They are responsible for the exchange of goods on an everyday basis. With color photographs, detailed information and shipping options, online shopping is here to stay. Internationally, Americans are known as big online shoppers, but the British have a higher per capita online shopping rate. Online shopping is also becoming increasingly popular in Asian and Middle Eastern countries.

Paying Online
In the past, a credit card coupled with some “secret” information like the card’s expiration date or a security code was used to make online purchases. Nowadays, middle man companies like Pay Pal, Money bookers and others act as a go-between, eliminating undue exposure to potential credit card fraud or embezzlement. These intermediaries take a small fee and the payment process is increasingly secure.

Online Banking
Ecommerce helps with bill paying, too. Not only does the bank have the ability to remove money from your account (for child support payments, a court lien or pre-approved credit lending) – but the bank account holder can also manage their own funds online. Payments can be made when it is timely to do so, giving the consumer more control of where and when the money will be going.

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