Commerce: is a transaction that occurs over the internet. The buying and selling of goods over the internet would be an example of E-commerce. An electronic shopper is called e-costumers. E-commerce has become very important in our world today. According to the U.S Census Bureau, 2008 third quarter ecommerce spending totalled $34.4billion. On average, sales on the internet have been there are certain websites that you can buy their products online such as Amazon, Sainsbury and Bhs etc. It’s also critical to make a safe online transaction, to allow the site to be secured, ensure you can see the https on the web address.

 

Characteristics of commerce.
The payment has to be done online. This can be done through the use of cards. Either debit or credit cards.
The online service is a 24/7 which is an advantage as you can shop and pay whenever you want to.
After shopping online, there is a always a delivery option, its either you chose the standard which might take time to arrive and pay less, or chose the express option which arrives earlier and pay more.

Advantages of E-commerce.
Can be more convenient- shopping in comfort of your home.
Save money- cheaper items online (Huge offers available to costumers).Can be delivered at same day.
No queuing therefore saves time.
Its 24/7, so you can shop anytime.
House delivery- convince .
Saves fuel.

Disadvantages
Payment for postages and delivery.
You cannot touch the product yourself and information may be limited.
No visual contact, therefore you might not know if the sellers are reliable.
Some software may contain virus.

ONLINE BANKING: allows customers to conduct financial transaction on a secure website operated by their retail or Virtual bank, Credit union or building society. The purpose of this is to make the movement of funds more convenient and less costly. Online banking is becoming much more common. You can pay your bills online and access a record of your checking account transaction online. Online banking is a great feature and most banks offer it. It makes everything you do with finance a bit easier. You can access the information anywhere that you have access to internet.

Advantages of online Banking.
Transfer money instantly: online banking allows you o transfer money between accounts much quickly. It’s more convenient than using the automated phone service, and can save you a trip to the bank.

Pay your bills online: You can pay your bills online. This will eliminate the needs of stamps and protect you from check being lost in mail. Most banks will have a section in which you set up payees. You will need to fill out the information, and then you can simply choose that profile every time you pay online.

Viewing your transaction: online banking allows you to access your account history and transaction form anywhere. This is the quickest way to check and see if a transaction has cleared your account. This can help you to find out the amount of a transaction after you have lost your receipt. It also allows you to find out about unauthorized transaction quickly and helps you resolves the issue more quickly.

No queuing: it allows you to perform transactions, pay bills and check balances 24 hours a day, 7 days a week. The bank virtually never closes because it is as accessible as your PC or laptop computer.

Disadvantages of online banking
It’s very easy to make mistakes, but difficult to correct.

Another issue for people is trust. They may wonder if their transaction went through successfully or if they clicked on the correct button.

Security: even with the tops of the line of security systems online banks offer, there is of curse an increased risk for identity theft or fraud when your personal data is accessible online.

A lack of print documentation.

It’s anonymous/no reaction form another human being and you might run into bad customer services.

ONLINE SHOPPING:E commerce with shopping comes with both advantages and disadvantages. The massive serge in retail stores transferring to online transactional businesses means more people are shopping online.

Advantages of shopping online

Incredible convenience: online shopper can choose anytime of the day or night to get on the website and shop. This is very useful for people that are home-bound or simply in times of inclement weather.Price comparison: when you visit a shop, you most likely to have a settle for whatever price the seller has placed on a particular item, but with online shopping, you have the ability to compare prices from hundreds of different sellers.

Infinite choices: there is variety of goods to choose from. Plus of you don’t see what you want in one store online, you simply move to the next one.

Cheaper running coat: for the manager it’s cheaper to run an online shop as there is no running fee. Also you don’t have to pay for employee.

Verification sites: verification on online shops means that there is safety when purchasing from that store, this reassure customers when parting with their deals.

Reviews: you are able to see other people’s views and opinions on the product and hot they rate it before purchase

trust main issue online

DISAVANTAGES OF SHOPPING ONLINE
You can’t try things on: if you are buying a clothing item, you don’t have the ability to feel the material, try it on and see how it’s made.

You can’t talk to someone immediately: if you have a question about what you are looking at, you probably will have to wait at least 24hrs to get a question answered. However, many sites now have instant chats enabled to take care of issues.

Waiting time- there can be long periods of waiting time for your product and you don’t receive it instantly.

EBAY
E-bay is another type of e-commerce. It’s a world online marketplace: a place for buyers and seller to come together and buy or sell goods. It was founded in 1995 and has grown so successful to be one of multiple billion dollar business in the world

Disadvantages of e-bay online services

Quality of goods: sometimes the seller sells damaged, fake or faulty good to the buyer.

Trust: some people pay money and will not receive goods. Or late delivery by the seller. Scams- some people online can rip-off people into believing they are buying designer items or concert tickets, however the product are often counterfeit and fake

 Advantages

You have a number of sellers to do business with. Since many sellers are selling the same products or similar products, you have the option to choose who you want to do business with.

Reviews: one of great benefit of shopping on eBay is the feedback given to buyers and sellers. If you purchase an item from someone who has high feedback rating, you can pretty count on the fact that you will be given great service that was given to the sellers past customers.

It’s very easy to use and shop or search around

Good deals: when bidding on auction sites you can receive items for under their price cost.