E-Commerce Solutions Philippines
The buying and selling of products and services by businesses and consumers over the internet. Such a practice has exploded in the past year alone, as security issues have improved, and more and more consumers are buying goods and services online also called ecommerce. Typically there are three types of ecommerce transactions: business to business (Cisco), business to consumer (ie etailers), and consumer to consumer (eBay), also called ecommerce.
The consumer moves through the internet to the merchant's web site. From there, he decides that he wants to purchase something, so he is moved to the online transaction server, where all of the information he gives is encrypted. Once he has placed his order, the information moves through a private gateway to a Processing Network, where the issuing and acquiring banks complete or deny the transaction. This generally takes place in no more than 5-7 seconds. There are many different payment systems available to accommodate the varied processing needs of merchants, from those who have a few orders a day to those who process thousands of transactions daily. With the addition of Secure Socket Layer technology, eCommerce is also a very safe way to complete transactions.
The Levels of an Online Store
So what's involved with building an e-commerce business? While there are vast differences between a consumer and business-to-business site, the similarities are prevalent. All of the software will create a store operation. This consists of a product catalog (where the online customers select what they want to order), a shopping cart (where product selections are collected), transaction security (credit authorization and other payment schemes), and order processing (shipping, taxes, inventory, etc.). All of these elements combined give the store a personality and the end users a true shopping experience.
The All-Important Catalog
Whether browsing or buying, from the customer's perspective the online catalog is the most important part of e-commerce. It's similar to the printed mail-order catalog with respect to the basics: products, pictures, and prices. However, a Web catalog can be a fully interactive shopping experience, including video, sound, and a lot more.
As a customer shops in your online store, catalog selections are usually put into a "shopping cart." Cart selections are then stored in a database so the customer can review what has been selected before check out. Again, this is not much different from ordering in a regular store, but there can be some wrinkles.
Security and Payment
Because they're impersonal, Internet transactions can get downright touchy. You need to establish a sense of security without creating the feeling of Fort Knox. Customers must be able to select a mode of payment and the software must verify their ability to pay. This can involve credit cards, electronic cash, or purchase orders. Most e-payment solution providers will require that your company establish a special bank account to handle the online transactions. For more information about setting up merchant accounts, click here.
Minding the Store
Managing customer information is a crucial part of an e-commerce operation. More sophisticated packages maintain a great deal of customer data, including where people go in the site, and make this information available in the form of analytical reports. A nice feature to look for in an e-commerce package is the ability to use the customer's information to customize the page contents to their tastes.
For more information on how we can implement E-Commerce Solution for your business, please contact us at email@example.com