In the mid 1980's the introduction of the ATM card was the latest improvement to electronic commerce. Now today's society revolves around the use of their credit and bank cards, many would be a lost without them. Today, the Internet serves as an important determinant in the functioning of E-commerce. Before the 90's the "net" was primarily a tool for the army, and a research device for some American Universities. Its attractiveness grew when it proved to become a fast and efficient means to conduct long distance transactions, as well as an effective way to distribute information. The Internet provides a different distribution channel for vendors to sell their products and services to consumers.(DeCourey, 2000) Consumers can learn about, view pictures of, and order products from anywhere at anytime from the comfort of their home or office. It also allows business to make transactions with each other. Some of the companies that led on this digital revolution are Amazon, Yahoo, and EBay. Although these companies are fairy young they have established respectable reputations.
Economic Impact.
Clearly, E-commerce has and will continue to change the face of business forever. Companies that are thousands of miles away can complete business transactions in a matter of seconds as well as exchange information. Companies have saved thousands of dollars by conducting business online. "The Internet provides businesses with the opportunity to sell their products to millions of people, 24 hours a day"(Baxton, 1999) Business-to-consumer transactions are conducted over the open Internet, business to business transactions often are conducted among partners, suppliers, customers and others through private Intranets. An estimated 50,000 plus U.S. companies today generate some or all of their revenues from the Internet. E-commerce is expected to experience fast growth over the next several years. Forrester Research Inc.
