E-Commerce ACH Services
E-Commerce Services : Overview, Types and Application In Industry
Overview :- E-Commerce is commonly known as Electronic Marketing or E-marketing. It's a system of buying and selling items through electronic media. Electronic media, such as online payment solutions, is referred to Internet and other electronic media. Latest survey reports show that the use of electronic trading is continuously growing day after day. Thousands of web portals and applications have been hosted since last two decades.
Records of late 70s shows that the use of electronic media was basically used for special purpose only such as electronic fund transfer, electronic data interchange. Later on its application usage took a diverse turn when credit card and automated teller came in the market. Maximum users and usage of this type of credit card processing system were reported from United States and United Kingdom in early eighties. Now the craze of online shopping is gaining rapid popularity among the youths worldwide. After the invention of world wide web by Tim berners lee in 1990 the use of electronic marketing spread like a wild fire around the world.Since,then people started using the word e-commerce for a system that electronic media for trading.
Various e-commerce hosting providers had been emerged for providing e-business in which the company provides other companies whatever they need to sale, purchase and auction their products and services on the World Wide Web, including various facilities like web hosting and third party services.
Following are the widely used terms with reference to electronic marketing.
1. Business to business, which is known as B2B.
2. Business to customer, which is known as B2C.
3. Customer to business, which is known as C2B and finally,
4. Customer to customer, which is known as C2C.
B2B :- l Trading partners are the active participants in this type of business system. The byproduct or finished product or parts are being used by other business organizations. Here one organization manufacturers some products and purchase some parts and again resell them to other business organization. This procedure of marketing is evolving quickly. This type of marketing is commonly known as Industrial marketing.
B2C :- Business organization and customers are the active players in this type of marketing. A consumer is a buyer of products that are not business related. The finished products are directly being sold to the customer's world wide through electronic media especially through World Wide Web applications and portals. B2C products include goods and services such as car, bike, repairs and booking systems. We can consider all commercial websites such as eBay as its example.
C2C :- It refers to consumer to consumer marketing. Here customers are the active participants. Auction site where consumers bids price is an example of C2C marketing system. This marketing system also relies on electronic media.
C2B :- Here consumers rely on the product and service offered by the business organization. Automated teller machine is an example of customer to business marketing system.
Application in Industry :- Buying and selling products and services has become a trend in this globalize world. Internet has become a vital part of interaction between business organization, its suppliers and customers. Buying and selling products and service on internet, with a credit card processing system, is growing rapidly. In this changing environment, in order to compete one needs to have a good command of e-marketing strategy. Darwin theory of survival of fittest can be applied to monitor the business performance because only the organization who can adopt latest technology and expand their business wider can survive in this competing era.
There are lots of third party merchant processing software nowadays available in the market which reduces the complexity and provides user-friendly e-commerce services modules to solve the need of striving organizations. Credit card and debit card usage is growing on the same rate as it is a useful tool for making online purchase hence dependency on physical financial tools is replaced by digital applications. Lots of logistics and supply chain management software are providing additional support to the ongoing traditional buying and courier delivery methods. Hence due to flexibility of usage, operation, ordering, payment and delivery e-marketing system has a key role in shaping the world to a common ground business platform. The concluding line is, E-commerce Services, such as ACH services, are the boon for those individuals or people who wants to enjoy hassle free shopping using electronic media using internet.
Article written by: Vidushi SEO