Forms of Interaction

Electronic commerce

Commonly known as e-commerce, is a type of industry where buying and selling of product or service is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing,electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices social media, and telephones as well.

Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions.

Web sites such as Amazon.com, Buy.com, and eBay are all e-commerce sites. The two major forms of e-commerce are Business-to-Consumer (B2C) and Business-to-Business (B2B). While companies like Amazon.com cater mostly to consumers, other companies provide goods and services exclusively to other businesses. The terms "e-business" and "e-tailing" are often used synonymously with e-commerce. They refer to the same idea; they are just used to confuse people trying to learn computer terms.

E-commerce can be divided into:

• E-tailing or "virtual storefronts" on websites with online catalogs, sometimes gathered into a "virtual mall";
• The gathering and use of demographic data through Web contacts and social media;
• Electronic Data Interchange (EDI), the business-to-business exchange of data;
• E-mail and fax and their use as media for reaching prospective and established customers (for example, with newsletters);
• Business-to-business buying and selling;
• The security of business transactions;

Electronic Business

Commonly referred to as "eBusiness" or "e-Business", may be defined as the utilisation of information and communication technologies in support of all the activities of business. Commerce constitutes the exchange of products and services between businesses, groups and individuals and hence can be seen as one of the essential activities of any business. Hence, electronic commerce or eCommerce focuses on the use of information and communication technologies to enable the external activities and relationships of the business with individuals, groups and other businesses. 

E-business involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically which involves online payments via credit cards or debit cards, handling customer service, and cooperating with business partners. Special technical standards for e-business facilitate the exchange of data between companies. E-business software solutions allow the integration of intra and inter firm business processes. E-business can be conducted using the web, the Internet, or some combination of these. 

Online Banking

This system allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society.

To access a financial institution's online banking facility, a customer having personal Internet access must register with the institution for the service, and set up some password (under various names) for customer verification. The password for online banking is normally not the same as for telephone banking. Financial institutions now routinely allocate customer numbers (also under various names), whether or not customers intend to access their online banking facility. Customer numbers are normally not the same as account numbers, because a number of accounts can be linked to the one customer number. The customer will link to the customer number any of those accounts which the customer controls, which may be cheque, savings, loan, credit card and other accounts. Customer numbers will also not be the same as any debit or credit card issued by the financial institution to the customer.

To access online banking, the customer would go to the financial institution's website, and enter the online banking facility using the customer number and password. Some financial institutions have set up additional security steps for access, but there is no consistency to the approach adopted.