E-commerce

E-commerce is still in it's infancy. As with any "cutting edge technology" growing pains are inevitable. Although the terminology used in e-commerce would lead the public to believe that every transaction is simple and absolutely safe, its not quite so (yet).

Term Definition : Source: U.S. Census Bureau — ( Ecommerce )

E-commerce (or electronic commerce) is any business transaction whose price or essential terms were negotiated over an online system such as an Internet, Extranet, Electronic Data Interchange network, or electronic mail system. It does not include transactions negotiated via facsimile machine or switched telephone network, or payments made online for transactions whose terms were negotiated offline.

Ecommerce payments will soon become the "normal method" for most business transactions. When the banking industry and government regulators can agree on all the legal requirements for open, "instant money transfer", it will reach the status of "very simple and safe." Until then, most business websites are simply relying on private companies to safeguard their customers' information (and money)! Your website can probably avoid the full e-commerce website risks and still be a very profitable (commercial) website.

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