Electronic commerce, more commonly known as E-commerce is basically the processing of any kind of money transaction, such as buying and selling of products or services, through the Internet or some other form of electronic communication.
E-commerce often refers to transactions occurring via the Internet or cell phone or any other wireless device and would include such things as credit card purchases, transfer of money and application for credit. The most common categories are business-to-business (B2B) and business to consumer (B2C) transactions. The growth of E-commerce raises a multitude of legal issues for people and companies using the Internet including secure transactions, privacy issues consumer protection and many other related issues.
E-commerce is becoming more and more prevalent and is no longer just the domain of large companies or “tech” companies. Individuals and small businesses are becoming more and more involved in E-commerce everyday. With more online commerce comes the need for more service providers, secure lines, the ability to perform credit card transactions across the Internet, and to assure clients and customers that the goods and services being ordered or requested will in fact be provided. As most experts will tell you, the Internet is still in its infancy and as the hardware allows information to move faster and faster, and the web infrastructure continues to grow, Internet commerce will not only become more prevalent, it will become a way of life.