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rigin 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.

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