Chapter 1 Flashcards
(51 cards)
s defined as the exchange of goods and
services between two or more entities physically.
Commerce
Refers to business transactions or information exchange, as
well as buying and selling products from person to person
Traditional Commerce
Traditional street-side business that offers goods and services to its
customers face-to-face in an office or store that the business owns
or rents. The local grocery store and the corner bank are examples of
brick-and-mortar companies.
Brick and Mortar
companies and individuals that buy and sell goods and services over the
internet using technology such as Electronic Data Interchange (EDI) and
Electronic Funds Transfer (EFT).
E-Commerce
includes buying and selling goods and
services online.
Digital Commerce
is the act or process of selling products via an internet or
mobile app, auction site, online classified advertisement, online shop,
social networking, social media or web shop.
Online Selling
is the structured
transmission of data between organizations by electronic
means. It is used to transfer electronic documents or business
data from one computer system to another computer system.
Electronic Data Interchange (EDI)
is the electronic exchange
or transfer of money from one account to another.
Electronic Funds Transfer (EFT)
refers to any business
that applies internet technologies in
its operation. Conducting all
business OPERATIONS USING DIGITAL
TECHNOLOGY.
E-business
– Electronic Data Interchange (EDI) was developed, allowing
businesses to exchange documents electronically.
1960s
– Michael Aldrich built the first online shopping platform using
videotex. Modified TV set hooked to a telephone line. The platform failed
1979
– Boston Computer Exchange became the first online
marketplace, selling used computers. They used minitel.
1982
– Tim Berners-Lee invented the World Wide Web, paving the way
for e-commerce websites.
1989
– The Internet became publicly available, enabling online
transactions.
1991
– Netscape introduced SSL encryption, securing online payments.
1994
– Amazon and eBay were launched, revolutionizing online retail
and auctions.
1995
– PayPal was founded, making online payments more secure and
convenient.
1998
– Alibaba launched, becoming a major B2B e-commerce platform.
1999
– Alibaba launched, becoming a major B2B e-commerce platform
1999
– The dot-com bubble burst, but strong e-commerce players
survived.
2000
– Amazon Prime was introduced, offering fast shipping and
boosting online shopping.
2005
– Apple App Store launched, paving the way for mobile commerce
(m-commerce).
2008
– Bitcoin was introduced, opening possibilities for cryptocurrency
transactions.
2009
– Instagram and Pinterest launched, influencing online shopping
trends.
2010
