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Commerce, as it is, is the transfer of goods or/and services from one person often called the seller to another person known as the buyer or consumer of the goods or/and service(s). First of all, there is need foe an agreement between the two parties that are doing business on issues such as price, form of the goods or services, mode of payment, time frame for payment or delivery, payment before delivery or otherwise, quantity to be delivered, etc…
The arena for making agreements prior to sealing of a transaction varies. The buyer and seller may meet face to face, they can communicate through the telephone or they can do that through the web commonly known as the interment. When such agreements are reached over the internet followed by the transaction getting sealed (buyer gets commodities bought delivered to him and seller gets paid by the buyer), then this is termed as e-commerce or e-business.
Just like in any business, there have been instances of fraud in e-commerce. If one is able to commit fraud when the transaction is conducted face to face, how much more is this possible when business is conducted over the web Most businessmen have been defrauded and buyers conned. This led to the need for beefing up security as far as e commerce is concerned. The security function in the websites belonging to buyers has been the very essence of doing business. One needs to verify the validity of the seller and the buyer needs to pay beforehand. Even though the amount of security has increased in the recent years, the hackers keep on being creative by the day thus also requiring innovation as far as the security function of e-commerce is concerned.
E-commerce is picking up a ...
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