history and evolution of e-commerce

Meaning of e-commerce
Ecommerce meant the process of execution of commercial transactions electronically with the help of the leading technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) which gave an opportunity for users to exchange business information and do electronic transactions. However, in year 2000, People began to define the term ecommerce as the process of purchasing of available goods and services over the Internet using secure connections and electronic payment services.

History of e-commerce
E-commerce came from the development of the Electronic Data Interchange (EDI).What is EDI? EDI is a set of standards developed in the 1960’s to exchange business information and do electronic transactions. At first, companies might not be able to interact with each other due to several EDI formats that business can see.
In 1984, ASC X 12 standards became stable and reliable in transferring large amounts of transactions.
In 1991, e-commerce became possible when the Internet was opened to commercial use. There is thousand of companies have taken up residence at websites.
In 1992 the first ‘point and click’ browser was occurred when the Mosaic web-browser was made available.
In 1994, netscape arrived; it allowed easier access to electronic commerce. Internet began to advance in popularity among the general public.

In 1998, arrival of DSL or Digital Subscriber Line.DSL allowed quicker access and a persistent connection to the Internet. After the DSL is the arrival of Linux. Linux gave users another choice in a platform other then Windows that was reliable and open-source.
In early 2000, there is a merger between AOL and Time Warner.
In February 2000, because of the hackers attacked some of the major e-commerce, there is the improved security in the development of e-commerce.
By the end of 2001, the largest form of ecommerce, Business-to-Business (B2B) model, had around $700 billion in transactions.

Evolution of E-Commerce

E-Commerce was birth out of the World-Wide-Web (WWW). While the Internet was developed in the late 1960s, the WWW came into existence more than a decade ago - in the early 1990s. Since then, however, it has grown phenomenally to become the most widely used service on the Internet. Although the web has made online shopping for many business and individuals, e-commerce has existed for many year. For decades, banks have been using electronic funds transfer (EFT). Businesses also have been using EDI. In the 1960s, businesses realized that many of the documents they exchange related to the shipping of goods ,such as invoices, credit note and purchase order ,they also spending a good deal of time and money entering these data into their computers. By creating a set of standard formats for transmitting that information electronically, businesses were able to reduce errors, avoid printing and mailing costs, and eliminate the need to re-enter the data.

Example of the early-adopter of the e-commerce

http://www.dell.com.my/

an American company located in Texas
Launched in 1994 as a static page by the end of 1997 was the first company to record a million dollars in online sales
selling goods over the World Wide Web with no retail outlets and no middlemen

http://www.pizzahut.com.my

Pizza Hut, a division of Tricon Global Restaurants, Inc., is the world's largest pizza restaurant company with more than 8,000 units in the United States and nearly 4,000 units in 90 countries. The company is the recognized leader in the $25 billion pizza category.