E-Commerce

E-Commerce:

"The Buying and selling of products and services by businesses and consumers over the internet is called E-commerce."

Following are some benefits of e-commerce:

1. Reduced costs by reducing labor.
2. Reduced errors in keying in data.
3. Reduced Times.
4. Faster delivery of products.
5. Flexibility with efficiency.
6. Improve relations with trading partners.
7. Lock in costumers.
8. New markets.

Transformation of payment from costumers to sellers:

Both paypal and paymate offer credit cards to bank account payments. You can invoice a customer, they can pay on paymate and the funds is transferred in your bank account.

Types of e-commerce:

There are two types of E-Commerce,

1. Business to consumers (B2C)
2. Business to Business (B2B)