History & Evolution of E-commerce

E-commerce began less than 40 years ago, its started in the early 1970's. Originally, it was using technology like electronic fund transfer (EFT) and Electronic Data Interchange (EDI). This is where the users are able to exchange the business information and make the electronic transactions, and it also allowed companies to send their sales documentation such as purchase orders, and invoices via electronic means.

E-Commerce is fast expanding in Asian, this is where more and more people are going for online shoppings. Especially, in Malaysia there is a high level of interest in e-commerce by the Malaysian government. Beginning in 1997, the Malaysian government constituted an Inter-Agency Task Force on E-commerce in order to develop a national strategic action plan and recommend policy initiatives on security, encryption technologies, and transaction tracking mechanisms for facilitating e-commerce.

eOneNet.com will be the first to produced "The Internet Success Coaching" VCD. eOneNet.com is the local e-business and internet marketing services provider in Malaysia. According to Fione Tan the President & CEO of the company said that the launching of the VCD have been ranked as the top Internet marketing VCD among top international search engines, out of some 39,300 competitve listings worldwide.

The future of e-commerce in Malaysia will be very bright but yet it will certainly depends on the trust and confidence level by the users.

Some Useful links:--->

• http://www.une.edu.au/asiacenter/KKaur.pdf
• http://www.eonenet.com/press/vcd_launch_20030826.htm
• http://globaltechforum.eiu.com/index.asp?layout=printer_friendly&doc_id=8706
  
• http://gigaom.com/2006/05/13/the-myth-reality-future

E-Commerce success & its causes

PayPal also consider one the most successful e-commerce website. Basically, PayPal is an e-commerce business that allows payments and money being transfer via the Internet. Moreover, it also serves an alternative to the traditional paper methods such as cheques and money orders.

Paypal performs payments or transactions processing for online vendors, auction sites, and other corporate users, for which it charges a fee. Well, it sometimes does charges a transaction fee for receiving money, i.e. a % of the amount sent plus an additional fixed amount.

Paypal succeeded as an e-commerce business is mainly because of its safety and security where its provide a strong control in identifying the online theft and phishing. Besides that, Paypal also provides a security key which enhance the layer of security. Thus, make the user accounts to be more resistant to intrusion and it's easy to use.

In addition, it's free to sign up for PayPal account to send money to friends and family. Users also can transfer their money from their bank account to PayPal account at no charge. PayPal transaction fees for Premier and Business accounts, is considerably low. For instance, if monthly sales is between $ 0.00U SD to $3,000.00 USD, then the price of per transaction is only $0.30USD plus 3.9%.

Paypal also enable the users to make payment without exposing credit card nor account numbers to the merchant. Thus, provide 100% protection for unauthorized payments. Moreover, provides 24/7 monitoring to prevent fraud.


For all these reasons, PayPal has succeeded as an e-commerce business.

https://www.paypal-media.com/aboutus.cfm
https://www.paypal.com/cgi-bin/webscr?cmd=_security-center-outside

E-Commerce can reduce cycle time, improve employee’s empowerment and facilitate customer support.

source: collegiateventures.wordpress.com

The use of E-commerce manages to reduce the cycle time and time-to-market tremendously. The production time from beginning to the end can be shorten by decreasing the cost and time of creating, processing, distributing, storing, and retrieving paper-based information activities. E-procurement is one of the tools to reduce cycle time in e-commerce. An enterprise is able to automate and manages processes that occur between organizations over the internet and between the private networks.

source: www.itwm.fhg.de

E-commerce also improves employee’s empowerment by decentralization of authority and decision making via empowerment and distributed systems, but simultaneously supports a centralized control at the same time. The employees are given more access to the information and power to make decision. They are able to interact with the customer electronically without having to refer to the higher authority so often as most of the information and instructions are more easily accessible.

source: www.technologypluspartners.com

Besides that, e-commerce do facilitates customer support by enabling customers to make enquiries to an enterprise without having to go to the customer services department. Customers can interact with the supplier as well as other customers and exchange information in an online portal. E-commerce also allows the customer to make purchases and transactions such as e-banking 24 hours a day anywhere anytime.

E-commerce failure & its causes

There are many successful businesses emerged from e-commerce world such as Amazon.com and eBay but they are also many businesses closed down in E-commerce world. One of the good example for this e-commerce failure is Flooz.com, an e-currency company, which sells gift certificates that can be used for payment at selected online sites. Flooz.com was a venture based in New York that provides online currency in February 1999. The company earned their money through commission received from the users who used Flooz, the gift certificates as payment.

One of the reasons for Flooz.com’s failure is the fact that the gift certificates become worthless during dot.com recession where the consumers suffered a serious impact, they are losing their money.The merchants stopped accepting the currency in early August, when Flooz.com informed them that their Web site operations had been suspended. One of the co-founder, comic actress Whoopi Goldberg lost millions when Flooz.com closed down.

Another reason for Flooz.com’s failure is because of the purchase of Flooz by a gang of thieves using stolen credit cards in Eastern Europe and Russia region. Flooz.com’s cash flow broke down after a big amount of Flooz were purchased using stolen credit cards and at the same time, Flooz.com was under the obligation to pay online retailers who were still accepting Flooz as payment.