E-Commerce: Concept & Features [Cyber Law]

E-Commerce: Concept & Features [Cyber Law]

Author Name : Sumit Singh

INTRODUCTION

E-commerce means electronic commerce. It means dealing in goods and services through the electronic media and internet. E-commerce involves carrying on a business with the help of the internet and by using the information technology like Electronic Data Interchange (EDI). E- Commerce relates to a website of the vendor on the Internet, who trades products or services directly to the customer from the portal. The portal uses a digital shopping cart or digital shopping basket system and allows payment through credit card, debit card or EFT (Electronic fund transfer) payments. A more complete definition is: E-commerce is the use of electronic communications and digital information processing technology in business transactions to  create, transform, and redefine relationships for value creation between or among organizations, and between organizations andindividuals.

E-commerce means using the Internet and the web for business transactions and/or commercial transactions, which typically involve the exchange of value (e.g., money) across organizational or individual boundaries in return for products and services. Here we focus on digitally enabled commercial transactions among organizations and individuals. E-business applications turn into e-commerce precisely, when an exchange of value occurs. Digitally enabled transactions include all transactions mediated by digital technology and platform; that is, transactions that occur over the Internet and the web. Hence, e-tailing is a subset of e-commerce, which encapsulates all “commerce” conducted via the Internet. It refers to that part of e-commerce that entails the sale of product merchandise and does not include sale of services, namely railway tickets, airlines tickets and jobportals.