E-Commerce — short for electronic commerce — denotes the realm of business transactions that occur over the internet, encapsulating the purchase and sale of goods or services online.
Beyond the actual transactions, e-commerce processing also encompasses the transmission of funds and data necessary to complete these transactions, establishing a comprehensive, virtual business environment.
The landscape of e-commerce is varied and vast, embracing a variety of transaction types. This includes the following:
- Business-to-Consumer (B2C) — Businesses sell directly to end consumers.
- Business-to-Business (B2B) — Businesses sell to other businesses.
- Consumer-to-Consumer (C2C) — Consumers sell to other consumers through online platforms.
E-commerce has risen to the fore as an increasingly popular method of shopping. The convenience, wide selection, and often competitive pricing have made e-commerce a fundamental part of the modern retail landscape.