eCommerce, or electronic commerce, pertains to a vast range of online business transactions for services and products. This also refers to any kind of business transaction in which both parties communicate electronically, not physically. Basically, it’s the use of digital information and electronic communications in different business transactions to build, redefine and transform relationships for value creation between individuals and organizations.
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The Three Main Processes Which Are Enhanced in eBusiness
This includes ordering, replenishment and procurement of stocks, online payment processes, production control processes, electronic links with suppliers and more.
Customer-focused processes include marketing and promotional efforts, selling online, purchase orders processing, payment processing, customer support and more.
3.Internal management processes
Internal management processes involves employee trainings, services, sharing of internal information, recruiting and video conferencing. Electronic applications improve the flow of information and production. Also, sales forces improve productivity.
How do customers pay for their purchases online?
Traditional Payment Methods
Cash on delivery
Electronic Payment Methods
1.Credit and Debit Cards
2.Stored Value Cards
5.eCash, eChecks and Smart Cards