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Electronic Commerce And The Impact On Business Transactions

E-Commerce is the act of electronically purchasing or selling goods over the Internet or via online facilities. In recent years, the industry has grown at an unprecedented pace and consequently several issues have arisen which have to be addressed before e-Commerce can be properly utilized. One of the most common challenges in the e-commerce involves the issue of delivering services as well as products to the customers. This can be a very time consuming process especially for smaller businesses and it is for this reason that hiring a professional chauffeur service is considered the best way of ensuring delivery of ordered goods and services to the customer within minimum time. A professional chauffeur service will ensure timely delivery of the ordered items to the customer with or without any damage, and they also have the necessary skills and knowledge to deliver any product or service to the customer in the best possible manner. Therefore, if you are planning to invest in e-Commerce then you should be prepared to hire a professional chauffeur company.

Another challenge in the e-commerce lies in the aspect of consumer transactions. Consumer electronic commerce has completely changed the concept of shopping as now one can easily shop for the required product from the comfort of their home or office. This has resulted in increase in number of e-Stores and brick-and-mortar stores, which have reduced the number of people going for shopping. The number of people going for shopping has also declined as there is a steep competition in every field including e-Commerce. This has led to reductions in the number of customers shopping.

There is another major difference between e-Commerce and brick-and-mortar stores. Consumers can physically see and inspect the goods while shopping at a physical store. However, this advantage is not available with e-Commerce. E-Commerce allows buyers to get the items only after they have purchased them online. There is no physical store present that the buyer visits to check out the products.

Another problem faced by consumers while making business transactions at brick-and-mortar stores is wait time. When a buyer wants to shop, he/she has to visit the actual retail outlet to make the purchase. Sometimes it takes several hours before the buyer can actually get the desired items. This can be extremely frustrating for the consumers and can lead to a dearth of sales in the end. E-Commerce has solved this problem by incorporating payment systems like credit card payment system that enables buyers to check out the products online without physically going to the physical retail outlet. As long as the website remains online, the buyers can have the access to the desired goods.

E-Commerce websites also use different payment gateways and modes of payments besides cash and credit cards. For instance, a store may adopt PayPal for facilitating transactions as most of the consumers use PayPal for secure transactions on the web. On the other hand, some e-Commerce sites use different types of e-Commerce Payment Gateways like C2B which is a type of third party merchant account. C2B merchant accounts are established between the site owners and the sellers. Through C2B, the sellers can offer secured and safe payment gateway which prevents fraudulent activities and provides the site owners with better online visibility and credibility.

There are also some e-Commerce sites that offer m-commerce services for enabling faster transactions. M-commerce service refers to multi mode of transactions i.e. it includes registration, checking out, billing, sales and product returns. Through these transactions, consumers can save time and effort and they can also increase sales volume through quicker transactions.

The growth of e-Commerce and m-commerce has contributed to a considerable increase in global trade. Electronic commerce leads to more business transactions and improved level of productivity and services. Electronic commerce also allows the suppliers and manufacturers to track the whereabouts of their products and supply chain. By using this service, companies can reduce costs by eliminating guesswork on the shipment and delivery timings. E-Commerce transaction has enabled business owners and merchants to gain profit from their businesses by allowing faster and easier transactions without compromising on the security and privacy of consumers’ personal information.

There are various tools and techniques used for conducting secure and reliable business transactions. It includes choosing a trusted and recognized payment gateway and implementing efficient online marketing strategies. Consumers’ convenience is also taken into consideration when it comes to electronic commerce. A wide range of payment options like credit cards, debit cards, e-checks, PayPal and others are available for e-Commerce business transactions.