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An electronic payment system (EPS) is a system of financial exchange between buyers and sellers in the online environment that is facilitated by a digital financial instrument (such as encrypted credit card numbers, electronic checks, or digital cash) backed by a bank, an intermediary, or by legal tender. Continue reading »
E-commerce facilitates organization networks, wherein small firms depend on “partner” firms for supplies and product distribution to address customer demands more effectively. Continue reading »
E-commerce serves as an “equalizer”It enables start-up and small- and medium-sized enterprises to reach the global market. However, this does not discount the point that without a good e-business strategy, ecommerce may in some cases discriminate against SMEs because it reveals proprietary pricing information. A sound e-business plan does not totally disregard old economy values. The dot-com bust is proof of this. Continue reading »
The Internet allows people from all over the world to get connected inexpensively and reliably. As a technical infrastructure, it is a global collection of networks, connected to share information using a common set of protocols. Continue reading »
There are at least three major forces fuelling e-commerce: economic forces, marketing and customer interaction forces, and technology, particularly multimedia convergence. Continue reading »
Things you can’t sell online fall into two categories: items that just don’t sell very well over the Web, and items that are illegal to sell over the Web. Continue reading »
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The introduction of the new economy has helped to create a very individualistic and independent society. Consumers are no longer totally reliant on corporations and are increasingly looking to conduct their own business transactions. 
A consumer posts his project with a set budget online and within hours companies review the consumer’s requirements and bid on the project. The consumer reviews the bids and selects the company that will complete the project. Elance empowers consumers around the world by providing the meeting ground and platform for such transactions. 
B2E (Business to Employee) E-Commerce generally refers to the requisitioning of supplies by employees for use in their jobs, but this really has grown to encompass much more. 
B2C (Business to Consumer): Refers to a business communicating with or selling to an individual rather than a company. B2C e-commerce jumped from $11.2 billion in 1998 to $31.2 billion in 1999.