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E-Commerce Overview

Electronic commerce, commonly known as E-commerce or eCommerce, is a term for any type of business, or commercial transaction that involves the transfer of information using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. It covers a wide range of business types, from consumer based retail sites, to business exchanges trading goods and services between corporations.

E-commerce businesses usually employ some or all of the following practices:

  • Buy or sell on websites or online marketplaces
  • Online storefronts or virtual catalog sales
  • Provide secure business transactions
  • Allows consumers to electronically exchange goods and services with no barriers of time or distance
  • Virtual shopping cart software allowing for payments or purchases of goods
  • Payment gateway to securely process payment transactions

 

Payment Topic: E-Commerce
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