e-commerce

Internet, as I have mentioned in my earlier entries, has yet to reach its peak. People are finding different ways in making use of this technology introducing us to processes and ways the earlier generations would never have thought of as possible. E-commerce is just one of those innovations which proves my arguement.

E-commerce basically is making transactions without personally meeting the other party. It has been existing for quite a while now. ATM can be classified as an e-commerce wherein the bank's client is able to make withdrawals without actually going to the bank. Today, with the help of internet and the growing ease of access to it, e-commerce is extended to other enterprises aside from banks. Internet becomes a virtual space where parties can meet and thus make their transactions.

There are two types of e-commerce namely C2B and C2C. C2B translates to consumer to business. Consumers are able to make purchases or access services by different businesses through the internet. E-bay and Amazon heads the pack of such services. Other small time businesses also open their stores online. Some even exist only online. This feature is advantageous because it cuts the firms costs of renting for a store thus lowering transactions costs transferring the saved cost to the customer making their products cheaper and more competitive. C2C on the other hand stand customer to customer. Internet brings people who are selling and people who wants to buy second hand together. tipidpc.com is famous for this feat.

The constitution is quick to adapt to these innovations passing laws that serve and protect the businesses and the consumers alike. This is a response to the increase cases of hackers and fraud in this business. These laws also help lower the risks the consumers face in this transactions because the consumers has limited resource in tracking fraud in the internet.