|
|
|
|
|
|
|
|
Origin of E-commerce
|
E-commerce or electronic commerce is defined as the complete set of processes that support commercial or business activities on a network i.e. they help in carrying out commercial transactions electronically.
E-commerce utilizes technologies like Electronic Data Interchange (EDI) and Electronic Funds transfer (EFT) which where introduced in the late 1970s to send commercial documents like purchase orders or invoices electronically. Hence, we can safely say that E-commerce originated during the same time period.
Credit cards, ATMs (Automated Teller Machines), telephone banking, information analysis etc during the 1980s time period were different types of E-commerce. With advancement, it also included Web Commerce activities dealing with the purchase of goods and service over the World Wide Web through secure servers with shopping carts and electronic payment services. Secure servers were consisted of HTTPS a server protocol which encrypts confidential ordering data for customer protection.
The web world developed to a great extent by 1994, at the same time e-commerce was predicted as a potential economic sector. However, it took about 4 years for E-commerce to finally make its mark. Consequently, most of the businesses in the USA and the Western Europe developed simple websites during 1998 to 2000.
The dot com collapse in 2000 -2001 affected many pure E-commerce companies badly. Upcoming retailers realizing the capacity of E-commerce niche markets had began to add the E -commerce capabilities to their websites.
E-commerce has become an integral part of any company's long term corporate strategy in cost containment, maintaining and winning market shares in global markets.
This article has been compiled by the content development team at Pegasus InfoCorp which pulls subject matter specialists from different work domains. They can be contacted through the Pegasus InfoCorp website at info@pegasusinfocorp.com. Pegasus InfoCorp is an India based web design, web development and online/ offline software development company. Please visit http://www.pegasusinfocorp.com to read more articles and know more about us!
Other companies and organizations are welcome to reprint this article
on their websites provided the following conditions are met.
- The article is not changed in any manner
- The article is copied as is in its entirety (including back
links to the Pegasus InfoCorp website).
- The company/ organization reprinting the article agrees to
defend, indemnify and hold harmless Pegasus InfoCorp, its employees,
directors, officers, agents, partners and their successors and
assigns from and against any and all liabilities, damages, losses,
costs and expenses, including attorney's fees, caused by or
arising out of claims based upon the use of the article, including
any claim of libel, defamation, violation of rights of privacy
or publicity, loss of service by subscribers and infringement
of intellectual property or other rights.
|
|
|
|
|
|
|