Advantages And Disadvantages Of E-Commerce - 958 Words

Abstract E-Commerce Ecommerce (or electrical commerce) refers to the shopping for and mercantilism of products and services via electronic channels, primarily the net. On-line retail is unquestionably convenient because of its 24-hour handiness, international reach and usually economical client service. The invention of quicker net property and powerful on-line tools has resulted in a new commerce arena – Ecommerce. Ecommerce offered several blessings to firms and customers however it additionally caused several issues. The following are the advantages and disadvantages of E-Commerce: ADVANTAGES OF ECOMMERCE: I. Faster buying/selling procedure, similarly as simple to seek out merchandise. II. Buying/selling 24/7. III. More reach to†¦show more content†¦Disadvantages of Online Payment Method: While e-commerce security system makes the payment secure and easy and also prevents fraud, there are still security breaches related to online transactions. Credit Card Fraud: Online transactions are transactions in which the card is not present physically. Stolen credit card numbers can be used without the knowledge of the cardholder. The ideal way to avoid credit card fraud is have a payment processor that can authenticate the user. Chargebacks: There are two types of chargebacks, Distribution chargebacks and Consumer chargebacks. Distribution chargebacks: These are chargebacks in which the supplier has charged a price which is higher than the price being charged to the consumer. Consumer chargebacks: These types of chargebacks occur when a fraudulent customer makes a purchase with a stolen card or also when the actual customer does not receive the goods or services requested. International Currency: One of the benefits of having an online store is that the marketplace can be extended around the globe. However, all payment processors do not have the necessary infrastructure to convert international currency. Addressing Security Concerns: There are number of steps that can be taken to ensure strong online security. Focusing on the security details early and often can help the website in avoiding theft and fraud. Use of Cryptocurrency: Cryptocurrency like Bitcoin can also be used in an e-commerce website. It uses aShow MoreRelatedAdvantages And Disadvantages Of E-Commerce899 Words   |  4 PagesO2O e-commerce and will propose several solutions. How to avoid being eliminated in the new e-commerce? The traditional physical industry facing enormous challenges.O2O business model provides a solution of e-commerce in traditional physical industries. 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