E-Commerce It seems befitting that at the beginning of the next millennium

E-Commerce

It seems befitting that at the beginning of the next millennium, we're on the threshold of a quiet revolution. The spectacular technological inventions are about to completely metamorphose the way we do business.  

We suggest that you read this section for comprehending this technology and the challenges it poses. It is like needing to learn the rules of the game before you play it.

What is E-Commerce?

Electronic commerce uses the web to bring together customers, vendors and suppliers in ways never before possible. The web enables your core business processes to improve customer service, reduce cycle time, get more results from limited resources and actually sell things. In short, it is using the web to sell goods, services and information to consumers.  

The E-commerce technologies are designed to replace traditional paper-based workflow with faster, more efficient and reliable communications between computers. And it is on this technology that businesses are expected to piggyback on in the next millennium.  

All you need is a computer, a browser, and internet access, and you can buy flowers, airline tickets, and even a car & lots. You are limited only by your i imagination!

Advantages

Speed and convenience are considered as the main reasons for the upsurge in E-commerce. Unfettered by boundaries of geography, language and other barriers, web sites can remain open all 24 hours a day. For both, those needing as well as those providing services, access is only a few clicks away. In turn, these opportunities give birth to more opportunities.   

However fascinating the technology and its use is, it would do well to remind us that everyone on the global competitive stage has the same access to technology. It is again the human mind, which will determine how you will be able to harness this technology. Move entrepreneurs and give way to netpreneurs. And it is in this area that India Domain's expertise is so crucial. CHL helps you put together your web business -programming, contents, marketing, maintenance, redesigning & ldots. 

E-commerce software and security issues

Because they are impersonal, Internet transactions can get downright touchy. A sense of security needs to be established without creating the feeling of fort Knox. Customers must be able to select a mode of payment and the software must verify their ability to pay. This can involve credit cards, electronic cash or purchase orders. Specialized software such as cyber cash can verify the purchaser and the purchase. e-commerce software usually work with the Secure Sockets Layer (SSL) developed by Netscape or the Secure Electronic Transaction( SET) technologies for encryption of data transmission. The more of these supported by an e-commerce package, the better. Most e-payment solution providers will require that the company establish a special bank account to handle the online transactions. 

With security being an issue with most online customers merchants and others are looking to exploit the huge potential on-line market with two choices: use conventional follow up systems like otp and phone numbers to make the customers feel more secure or develop better systems of online security. While the first will probably continue, its second choice which is gaining more credibility- Digital cash. Encryption as already discussed is being used to protect information while it is being transmitted between a customer and a merchant on the Internet. Netscape uses the secure socket layer in their commerce server to provide server authentication, data encryption, and message integrity. SSL provides capabilities similar to the more familiar " berkely sockets" or Winsock services. SSL sits between application protocols such as http, telnet, ftp etc and the underlying protocol TCP/IP. but unlike ordinary socket connection, once your web browser has established a connection to a server using SSL, you know which merchant you are connected to , and you that your communication with that  merchant is secure from eavesdropping or tampering.   

The method used to establish identity is based upon an object called digital certificate. A digital certificate simply ties together a public key with say the name and address of the customer or merchant. The trick is that a trusted third party signs these certificates, in much the same way that the government that issues it signs the passport. Verisign, a spin off from RSA data security is in the business of issuing these certificates, which they called Digital IDs.   

The other methods besides Credit card processing are e cash and e credit , both of which require you to set up an account with an e cash provider and buy only from merchants who have also registered with that provider. When you purchase something online it gets charged to your real credit card, with the provider taking extra measures to protect your security. Although electronic or digital cash is not yet wide spread, banks are issuing it allowing you to purchase items at registered retail sales. Electronic cards are coming up with employing coded messages secret numbers and electronic buyer identification. Besides Verisign another guarantee of security can be found in Secure Electronic Transaction (SET) . Set was developed by Visa and Master card with participation from several technology companies including IBM and Microsoft. This system means that your entire credit card number is never traveling across the net- rather pieces of it are- and that no human eye sees the entire card number. 

The Future of E-Commerce

Commerce What does the future hold for e-commerce? Many would say it is difficult to predict. The forces that determine the web's winners and losers are just taking shape and technological advances could add even more uncertainty. On the downside, some experts predict that it will be increasingly difficult for smaller companies to establish their presence. Public companies and additional brand name retailers have deep pockets and a name recognition that will make it difficult for smaller sites and mom-and-pop shops to attract customers, thereby forcing them to compete with the big boys. On the Net, it's one big neighborhood. On the upside, nearly all experts believe that overall e-commerce will increase exponentially in coming years. Business to business transactions will represent the largest revenue. Online retailing will also enjoy a drastic growth. Areas expected to go include financial services, travel, entertainment and groceries. And for those considering opening a virtual storefront, forthcoming technology and standards agreements will make it easier to create a site, to protect it against payment fraud, and to share information with suppliers and business partners.

AsiaTradeHub.com