E-Commerce in Modern Era: Various Outlooks

E-Commerce in Modern Era: Various Outlooks

Author Name : Sudarshan Roy, Subhadip Das

ABSTRACT

E-Commerce stands for Electronic Commerce. Dictionary meaning of commerce is buying and selling of goods and services, which is done specially in large scale. Thus, E-Commerce simply means the buying and selling of goods and services through electronic medium. E-Commerce is a process or mode where commercial transactions are conducted electronically on the internetthus e-commerce stands for purchasing and selling of goods and services through wireless devices such as smartphones and tablets. Now a days we can make transactions through the help of smartphone, tablet, laptop, computer etc. Transactions can be categorized in three categories. As B2B (Business to Business), B2C (Business to Customer) and C2C (Customer to Customer). An E-payment system can also be called as digital payment system. An E-Payment system or Digital Payment system is a process of making transactions or paying for goods and services through an electronic medium without the use of cheques or cash. So, Ecommerce is nothing but the online buying and selling of goods and services which is powered by computers, tablets, smartphones, and other smart devices as said earlier also. Almost anything can be purchased with e-commerce today. Generally, Mobile commerce is the purchasing and selling of goods and services through wireless devices such as smartphones and tablets. Through this process, people can getseveralbenefits such as payment of bills, purchase and sell goods and services, access of emails, book movie tickets, make railway reservations, order books, read and watch the news, etc. Thestudy has tried to evaluate the concept of E-Commerce; different Models of E-Commerce; Electronic Business; Supply Chain Management; Customer Relationship Management; Electronic Data Interchange (EDI); Mobile Commerce; E-Payment; Payment Gateway; and Core Banking Solution (CBS). Though, the primary objectives of this study are to make researcher familiar with the E-Commerce and its usage in modern era, the endeavor has specifically attempted to discuss various components of E-Commerce, M-Commerce (Mobile commerce) and E-Payment. It has also tried to make researcher familiar with the E-Commerce, M-Commerce and E-Payment and their usage in modern era.

Keywords: E-Commerce, M-Commerce, E-Payment, Core Banking Solution, Electronic Data Interchange.