E-commerce (Electronic Commerce): Meaning, Division/Types And Functions Of E-commerce

Table Of Contents

• Meaning Of E-commerce
• Types Of E-commerce
• Functions Of E-commerce

Electronic Commerce: This is the buying and selling of goods and services on the internet especially the World Wide Web (WWW). E-business (Electronic Business) are often used interchangeable in online retail selling. It can equally be regards as e-tailing.
E-commerce can be divide into:
1. E-tailing Or Virtual Store Fronts: This in website goes with online catalogue, and it sometimes gathered into a virtual mail.
2. Electronic Data Interchange (EDI): This is the business to business exchange of data.
3. E-mail And Fax: They are use as media for reaching prospects and establish customers (for example with news setting).
4. Business To Business (B2B): This involves buying and selling.
5. The Security Of Business Transaction.
Functions Of E-commerce
E-commerce has a lot of functions, these include:
1. Registration
In order to make a purchase, users must register with site, provide all the information needed for shopping and billing. The data will be stored on a database and will be available from the back office.
2. Basket
It is a fact that is like a shopping basket which allows the users to select the products they want, then go to check out for payment.
3. Payment
This is equally the means of managing the basket. The payment system is mechanism that facilitate dialogue between the parties involved in financial transaction. The bank, the store and you with management.
4. Product Management
This is the main part of the E-commerce system and provides all the features required for product, and placement of an online sales.
5. Listing Orders And Customers Detail Discount
Discount and promotion are managed for a single product or product category.