1.4 E-Commerce (Electronic Commerce / Internet Commerce) [SEE COMPUTER SCIENCE]

 1.4 E-Commerce (Electronic Commerce / Internet Commerce) [SEE COMPUTER SCIENCE]

E-Commerce (Electronic Commerce / Internet Commerce)

 

—  Ecommerce is the buying and selling of goods and services over the Internet.

—  E.g. Amazon, Flipkart, sastodeal, daraz etc.

—  Almost anything can be purchased through e-commerce today.

 

Types of Ecommerce Models

 

a)     Business to Consumer (B2C):
When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).

 

b)     Business to Business (B2B):
When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use)

 

c)     Consumer to Consumer (C2C):
When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on hamrobazar to another consumer).

 

d)     Consumer to Business (C2B):
When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).

 

Advantages of E-commerce

 

a)     It makes buying selling possible 24/7.

b)     It makes buying selling procedure faster, as well as easy to find products.

c)     There are no geographical boundaries for e-business.

d)     Easy to start and manage a business.

 

Disadvantages of E-commerce

 

a)     Customer cannot test or check the services or goods.

b)     Customers need to wait for longer time periods for getting their products delivered.

c)     Fraud and online insecurity is increasing rapidly.

d)     We need to be careful about the quality of product and service delivery

 

 

M-Commerce / Mobile Commerce

—  M-commerce is the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets.

—  It does not require the user to sit at the computer that is plugged in and perform the commercial transactions.

—  People can perform several functions such as pay bills, buy and sell goods and services, access emails, book movie tickets, make railway reservations, order books, read and watch the news, etc.

—  The term itself was coined in 1997 by Kevin Duffy.

 

 

Advantages of M-Commerce

 

—  Increased convenience for customers, who can purchase goods and services anywhere and at any time.

—  Increased speed and efficiency, as transactions can be completed quickly and without the need to visit a physical store.

—  Increased flexibility, as customers can buy goods and services regardless of their location.

—  Increased opportunities for businesses, who can reach a wider audience and sell products and services to a global market.

 

 

Disadvantages of M-commerce

 

—  Not all mobile devices accept all forms of payment, so there may be some limitations when it comes to making purchases.

—  Some people may not trust making transactions via mobile devices, especially if they are not familiar with the technology.

—  Because transactions are taking place on a mobile device, there is a greater risk of information being stolen or compromised.

—  Without accessing the internet connections user will not be able to receive any data to purchase.

 

 

Online Payment

 

—  Making transactions or paying for goods and services through an electronic medium, without the use of cheque or cash.

—  It helps in sending and receiving the money online, buy air tickets, pay utility bills, purchase mobile recharge cards, pay school college bills, internet bills, subscribe newspaper and magazines online, etc.

—  E.g. eSewa Nepal, iPay, Khalti, e-banking, etc.

 

Advantages of online payment

 

a)     It can be done at any time, from any location around the globe.

b)     It makes huge money transactions easier and faster.

c)     It offers higher payment security.

d)     There’s no risk of your money getting stolen or lost when you pay online.

 

Disadvantages of online payment

 

a)     While online payment does make transactions easier, the apps that help you pay will certainly charge some costs. You will have to pay third-party payment service charges.

b)     Not all shops are equipped with the facility of online payment. So, it is not possible to perform digital payment in such cases.

c)     It might create privacy issues as you will have to share all of your transactions and account details with third-party services.

d)     There might sometimes be a case of your account being hacked and your money being misused.

 

 

 

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