e-commerce


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Related to e-commerce: E-business

e-commerce,

commerce conducted over the InternetInternet, the,
international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises (called gateways
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, most often via the World Wide WebWorld Wide Web
(WWW or W3), collection of globally distributed text and multimedia documents and files and other network services linked in such a way as to create an immense electronic library from which information can be retrieved quickly by intuitive searches.
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. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. A customer can order items from a vendor's Web site, paying with a credit cardcredit card,
device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products.
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 (the customer enters account information via the computer) or with a previously established "cybercash" account. The transaction information is transmitted (usually by modemmodem
[modulator/demodulator], an external device or internal electronic circuitry used to transmit and receive digital data over a communications line normally used for analog signals.
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) to a financial institution for payment clearance and to the vendor for order fulfillment. Personal and account information is kept confidential through the use of "secured transactions" that use encryption technology (see data encryptiondata encryption,
the process of scrambling stored or transmitted information so that it is unintelligible until it is unscrambled by the intended recipient. Historically, data encryption has been used primarily to protect diplomatic and military secrets from foreign governments.
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).

In an effort to further the development of e-commerce, the federal Electronic Signatures Act (2000) established uniform national standards for determining the circumstances under which contracts and notifications in electronic form are legally valid. Legal standards were also specified regarding the use of an electronic signature ("an electronic sound, symbol, or process, attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record"), but the law did not specify technological standards for implementing the act. The act gave electronic signatures a legal standing similar to that of paper signatures, allowing contracts and other agreements, such as those establishing a loan or brokerage account, to be signed on line.

Once consumers' worries eased about on-line credit card purchases, e-commerce grew rapidly in the late 1990s. In 1998 on-line retail ("e-tail") sales were $7.2 billion, double the amount in 1997. On-line retail ordering represented 15% of nonstore sales (which included catalogs, television sales, and direct sales) in 1998, but this constituted only 1% of total retail revenues that year. Books are the most popular on-line product order—with over half of Web shoppers ordering books (one on-line bookseller, Amazon.com, which started in 1995, had revenues of $610 million in 1998)—followed by software, audio compact discscompact disc
(CD), a small plastic disc used for the storage of digital data. As originally developed for audio systems, the sound signal is sampled at a rate of 44,100 times a second, then each sample is measured and digitally encoded on the 4 3-4 in (12 cm) disc as a series of
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, and personal computerspersonal computer
(PC), small but powerful computer primarily used in an office or home without the need to be connected to a larger computer. PCs evolved after the development of the microprocessor made possible the hobby-computer movement of the late 1970s, when some computers
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. Other on-line commerce includes trading of stocksstock,
in finance, instrument certifying to shares in the ownership of a corporation. Bonds are similar evidences of shares in a loan to a corporation. Stock yields no dividends until claims of bondholders have been met.
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, purchases of airline tickets and groceries, and participation in auctions.

e-commerce

sales of goods and services undertaken via the INTERNET and World-Wide Web.

e-commerce

[′ē ‚käm·ərs]
(computer science)

e-commerce

, ecommerce
business transactions conducted on the internet

e-commerce

e-commerce

(Electronic-COMMERCE) Selling products online via the Web. Also called "e-business," "e-tailing" and "I-commerce." Although in most cases e-commerce and e-business are synonymous, e-commerce implies that goods can be purchased online, whereas e-business might be used as an umbrella term for a total presence on the Web, which would include the e-commerce shopping component. See shopping cart.

E-commerce may also refer to electronic data interchange (see EDI), in which one company's computer queries the inventory and transmits purchase orders to another company's computer. See m-commerce, microcommerce and clicks and mortar.

The First "Electronic" Commerce


In 1886, a telegraph operator managed to obtain a shipment of watches that had been refused by the local jeweler. Using the telegraph, he sold all the watches to fellow operators and railroad employees and then ordered more. Within a short time, he made enough money to quit his job and start his own catalog mail order business. The young man's name was Richard Sears, who founded Sears, Roebuck and Co. in 1893.
References in periodicals archive ?
While most dot-coms failed miserably to deliver short-term returns, the promise of e-commerce is in its infancy, and examples of profitable e-commerce initiatives are emerging.
and European corporations take great pains to protect computer security but are less prepared for new liability risks associated with information technology and e-commerce.
E-commerce plays two basic roles in long term care: tactical and strategic.
Digital signatures, a key component of e-commerce, are not new; they can exist in many different forms, including automated teller machines and other computer systems that rely on personal identification numbers (PINs) as a means of authenticating business transactions -- technologies that are several decades old.
The feeling was that the warehouse serving e-commerce would be more technologically advanced, and smaller than previously, "high-tech distribution needs air- port proximity and more smaller warehouses," said one CRE.
Fully 60 percent of respondents expect to start or expand an application this year, while only nine percent claim to have completed their e-commerce work.
2) The growth of this activity (perhaps more accurately described as "e-government") has paralleled the growth of e-commerce in the private sector.
COMPANIES CAN ENTER E-COMMERCE at several different levels, with enormous variations in cost and risk.
In general, insurers have begun a metamorphosis into e-commerce businesses.
COM invested engineering resources to build a richer, tighter and more comprehensive data flow between GSI Commerce's e-commerce platform and SHOP.
3 Summary of the profit model of medical industry E-commerce