| The advancement in technology has certainly had a | | | | changed with the passage of time. This historic turning |
| major effect on the lives of many. This world is | | | | of e-commerce occurred about three decades ago. |
| becoming a global village and distances no longer a | | | | Technologies such as electronic data exchange and |
| problem. Communications and mass information is just | | | | electronic funds transfer have been introduced and |
| a few clicks away; thanks to the computer related | | | | they had a revolutionary effect because these |
| technology, more specifically the utility of internet, which | | | | allowed the businesses to communicate the |
| is a part of the information technology. | | | | commercial documents such as the basics of |
| Social networking websites and chat related | | | | purchase orders and invoices via electronic network |
| applications are now presenting quite a number of | | | | systems securely. The growth of telephonic banking |
| advantages to the users. They reduce distances | | | | services, credit card transactions and automated teller |
| between the users and help them connect with | | | | machines has added a new dimension to e-commerce. |
| relatives and friends from all over the world. The aim | | | | There are still innumerable aspects of business and |
| of any social networking site is to make the application | | | | other related issues that are growing as per the users |
| and utility user friendly. | | | | need and the information technology is providing a |
| With the technological changes and new | | | | highly efficient and secure platform to them. |
| developments occurring every day, internet users no | | | | Electronic payment systems have become the engine |
| longer have to face the problems online that they had | | | | for almost all online transactions. The major electronic |
| to face lately due to technical glitches, which resulted in | | | | payment systems that govern current online |
| frustration. Now the users no longer have to rummage | | | | transactions are credit card processing systems and |
| through heaps of messages to access a particular | | | | electronic payment gateways. The electronic payment |
| conversation or read at hyperactive speeds just to | | | | gateways are the companies that facilitate financial |
| keep in touch with the discussion on hand. The | | | | transactions online by authenticating credit cards and |
| systems have become more streamlined and | | | | online bank accounts authorizing certain transactions. |
| responsive and thus more convenient to the users. | | | | They basically form the virtual connectivity between |
| This constant and rapid change in web technology has | | | | merchant's website and the credit card companies; this |
| opened many windows of opportunity for both the | | | | sure reduces the hassle of long bank queues and |
| users and the developers. The users now have more | | | | offer purchasing options when ever and where ever |
| options to switch to and the developers have to work | | | | any one pleases to have these while utilizing the |
| to develop newer, better, efficient and easy to use | | | | splendors of computer technology. |
| portals. | | | | The information technology has come a long way and |
| In its early days, E-commerce existed simply as a | | | | is ever evolving. It has truly made the world a global |
| form of facilitation for commercial and financial | | | | village. |
| transactions. It is one of the few things that have | | | | |