History and Evolution of E-commerce

What is E-commerce???

Electronic Commerce or E-commerce defined as a purchasing, selling and exchanging of goods and services over computer network through which transaction are performed electronically.

Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) were introduced which gave an opportunity for users to act as business information exchange highway and do the electronic transactions.

Electronic Funds Transfer (EFT) helps financial institutions to transfer money among themselves and related businesses or vise verse. For example, employers pay the money to their employees through EFT which direct transfer the money to their bank accounts or debit cards.

Electronic Data Interchange (EDI) enables company to operate their own private network with their business partners and acted as information exchange highway. EDI allowed company to exchange and send commercial documentation electronically.

For more detail about history and evolution of E-commerce as below:

E-commerce has a great deal of advantages to users which allow users can easily search through a large database of products and services. They can compare the price in order to buy the selected product at the best price. Therefore, people began to define the term E-commerce as the process of purchasing of available goods and services over the Internet using secure connections and electronic payment services.

For further information, please refer the following links:

http://newmedia.medill.northwestern.edu/courses/nmpspring01/brown/Revstream/history.htm

http://www.ecommerce-land.com/history_ecommerce.html