3. E-commerce can be formally defined as technology-mediated
exchanges between parties (individuals, organizations, or
both) as well as the electronically based intra- or inter-
organizational activities that facilitate such exchanges.
– JEFFREY F. RAYPORT and BERNARD J. JAWORSKI
It is global. It favours intangible things-ideas, information, and
relationships. And it is intenseley interlinked. These three
attributes produce a new type of marketplace and society,
one that is rooted in ubiquitous electroni network. -
-KEVIN KELLY, New rules for the new economy
9. ELEMENT BENEFIT
• Centralized marketspace • Neutral and nonaligned with
either seller or buyers
• Standardized documentation • Users are prequalified and
regulated
• Price qutoes, price history and • Pricing mechanism is self
after-the-sale information regulated
provided
• Confidential transactions • Clearing and settlement
between bussiness services provided