Cyber-Bargains

Back to the earliest century where E-commerce has taken place, it was just a simple transaction of buying and selling, nothing else. Yet the history of this vast improving system on how information technology has transformed into today’s business process.

E-commerce was first developed in the early 1970. It is a process of the execution of commercial transactions electronically with the help of technologies such as Electronic Data Interchanged (EDI) and Electronic Funds Transfer (EFT) which gave opportunity for users to exchange information and do electronic transactions. By the year 1984, the EDI was standardized through ASCX12, which give guaranteed to the companies to complete transactions with one another reliably. By year 1992, the compuserve offers online retail products to its consumers. These provide the first chance for people to buy things through computer. While in 1994, Netscape has arrived which provide users a simple browser to surf the net and a safe online transaction technology called Secure Sockets Layer.

In the year 1995, Amazon.com and eBay.com have launched. In year 1999, the retail spending over the internet was reached approximately $20 billion (according to Business.com). By the year 2000, the US government extended the moratorium on Internet taxes until at least year 2005.Fortune magazine,2007 stated that dell as the 34th largest company in the Fortune 500 list and 8th on its annual top 20 list of the most successful companies in USA.

The emergence of E-commerce has provided us with lots of advantages and conveniences. It has never ended and I believe that it will continue improving for the better.