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E commerce_is_boomingwill_you_be_part_of_it
| E-commerce is booming...will you be part of it?
What is e-commerce? We hear so many "e" words today; e-mail,
e-book, e-trade and more. "E" stands for electronic. E-commerce
is conducted over the Internet, electronically. This might refer
to business to business transaction, or purchases consumers make
online. If you purchase goods from a website, you are
participating in e-commerce. If you sell goods online, this is
also e-commerce. E-commerce can also apply to services that are
sold or exchanged online.
You may pay for goods and services online with a credit card, an
electronic check or a previously established online account such
as Paypal. These are sometimes called "cybercash" accounts. When
using these cyber-accounts, the money is transferred from your
account to the other without releasing or revealing any of your
personal information such as credit card numbers and bank
accounts.
This added security led a lot of people to feel more secure with
e-commerce and "secured transactions". The Federal Electronic
Signatures Act in 2000 set standards for contracts and forms
that are signed electronically. The internet had created a whole
new world in which new laws would have to be formed.
The new laws have diminished the problem of online purchase and
e-commerce. Retail sales were over 7 million dollars by the end
of 1990's. An advantage of e-commerce is that we can purchase
things and receive them without going to the store and fighting
crowds. There is no need for even dressing up.
Other online commerce includes trading of stocks, purchases of
airline tickets and groceries, and participation in auctions.
Everyone has heard of Ebay.com. Millions of people every day
participate in eBay auctions. People can do research of the
online markets and easily find the best deal on their product
without any legwork. In addition to purchasing, people can set
up their own e-commerce stores easily. If you have a product,
want to sell a hobby such as needlework, or if you have a
service to offer, you can reach a much greater crowd by opening
an online store.
E-mail, faxes, teleconferencing and telephone or online banking
are all forms of e-commerce also. These forms have mostly been
around longer but they are all still part of the e-commerce
industry. More and more people are taking advantage and choosing
to pay bills online, receive statements and more.
Beside making our lives easier, it looks like E-commerce is here
to stay!
About the author:
Stephan L. Choi is excited about E-commerce and is the owner of
Everything About
E-commerce
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