ELECTRONIC COMMERCE—TECHNOLOGY AND PROSPECTS

Abstract

This paper is an attempt to research of electronic commerce technology and prospects. For the present work, secondary data are used which is collected from e-commerce department website and reports. Commerce (the trading of goods) has been a major impetus for human survival since the beginning of recorded history and beyond. The mass adoption of the Internet has created a paradigm shift in the way businesses are conducted today. So will many on-line retailers who have to cough up set up and transaction costs and 2-3% of every payment. Moreover credit cards are not suitable for person-to-person trade on the Internet. In short, e- commerce has created a demand for low cost facility for micro payments and flexible payment.