Electronic Commerce

Electronic commerce or what is commonly called e-commerce is one of the most popular and widely used innovations in the international business environment today. It has a very great and significant impact on almost all businesses as well as on these businesses’ participants. With the fast-paced lives of people, e-commerce is now able to break up old borders, change behaviors, and bring about new opportunities. Since the usage of the internet is increasing tremendously, e-commerce was induced to create a trouble-free and accessible way for businesses in making transactions with the people in its internal and external environment. Jobs are now done faster through the net and people rely heavily on it with almost everything that they need.

One of the industries that take good advantage of this evolution in technology is the banking industry. E-banking followed the introduction of e-commerce and thus some business strategies were reoriented towards the new possibilities offered by the internet. Private customers are now provided with sheer unlimited source of business information and could make transactions with financial institutions on whatever time in whatever location. Banks, on the other hand, reduced their transaction costs and offered services more closely targeted to the new market needs.

Multimedia Messaging System or MMS is the newest trend