The history and evolution of E-Commerce

The history and evolution of E-Commerce

What is E-Commerce?
E-commerce describes as the Electronic Commerces (EC), which known as the useful buzzword of the online business revolution. It captures the excitement and more focus through the fast emrging market. As well as history of e-commerce is an important component that helps people more understanding about the History and online with different websites via the Internet. Furthermore, E-commerce also means as a online business transaction such as nowadays a lots of people buying and selling of goods, services and information via Internet.

The concept of e-commerce is all about using the Internet to do business better and faster. For customers, e-commerces is about giving customers controlled access to their computer systems and allow people to serve themselves. While e-commerce not only for transaction of buying and selling, it is also a part of electronically communicating, collaborating and discovering information. This is sometimes named as e-business.

History of E-Commerce
EC applications firstly developed in the early 1970s with innovations such as Electronic Funds Transfer (EFT), which these funds could be routed electronically from one organization to another. However this application has limited to large corporations, financial institutions, and a few other personal businesses. Firstly, development Electronic Funds Transfer (EFT) refers to the computer-based systems used to perform financial transactions electronically. For example of the term of EFT such as electronic bill payment in online banking, which may delivered by EFT or paper check, payment card, direct deposit via a payroll services company and direct debit payments from customer to business.

Next, Electronic Data interchange (EDI) typically as a technology used to electronically transfer routine documents. This technology referred as expanded electronic transfers from financial transactions to other types of transaction processing. Electronic Data Interchange (EDI) develop to the structured transmission of data between organisations by electronic. Electronic Data Interchange include such as e-mail, electronic bulletin boards, fax transmissions, and electronic funds transfer.

Thirdly, other systems known as Interorganizational system (IOS) applications which this strategic value has been widely recognized.

Evolution of E-Commerce
*In 1984*
In the 1980s when ATMs and telephone banking started to become popular they were also thought of as electronic commerce. It means something almost entirely different today. But in 1984, one EDI, the ASC X12, became the standard for transferring large amounts of transactions, and was adapted quickly by those institutions who wanted to do business electronically.

*In 1992*
The first records of a company letting people buy things off the computer is present as early as 1992 in the form of Compuserve, which may not have offered a great boost to international trade, import or export or global sourcing but it did provide a humble basis for future development in the arena.

* In 1994*
In 1994, the first point and click web browser was developed, called Mosaic. Then the first downloadable browser, Netscape, was developed based on Mosaic, and this gave people with Internet access the ability to participate in electronic commerce. This was really the first step in the history of e commerce that lead to the widespread e-commerce usage we see today.

*In 1995*
The year of 1995 cannot be forgotten as it marked the beginning of two giants of Amazon.com and eBay.com which do not need any introduction these days have certainly contributed in their own ways to international trade, import or export and global sourcing.

*In 1998*
In 1998, DSL, or Digital Subscriber Line, provides fast, always-on Internet service to subscribers across California. This prompts people to spend more time, money and online.

*In 1999*
Infact as early as 1999 the retail sales on the internet had reached as high as twenty billion dollars according to Business.com. Napster was founded in 1999, and even though it started out as a way for users to share music files for free, its development was an important step in the history of e commerce. As it became more and more popular, consumers had a say in what they hoped to get from such a site, and e commerce and the entire industry, in general.

*In 2000*
In 2000, The U.S government extended the moratorium on Internet taxes until at least 2005. AOL and Time Warner merged, combining a completely online company with an old and established traditional company. By then, Yahoo, eBay and Amazon.com were popular sites, their names synonymous with Internet use and e commerce.

Mainly this started the push for secure ordering and more secure browser interfaces. Nowadays a lots of activities are more precisely to the termed of “Web commerce” known as the purchase of goods and services over the World Wide Web via secure servers (HTTPS , as a special server protocol which encrypts confidential ordering data for customer protection) with e-shopping carts and with electronic pay services, like credit card pay authorizations.

During the infamous “dot com” era, Ecommerce was known as “web commerce” and referred to the buying and selling of services and products over the internet via secure connections and they were made using electronic shopping carts that were made with built in electronic payment services, like credit card authorization.

As the conclusion, history and evolution of e-commerce is a history of a new, virtual world which is evolving according to the customer advantage. The most important is E-commerce allows people to buy or sell anything in anytime of the day.

• Related Link(s):
  http://www.ecommerce-journal.com/articles/electronic_commerce_aka_e_commerce_history
  
• http://newmedia.medill.northwestern.edu/courses/nmpspring01/brown/Revstream/history.htm