Electronic Commerce (e-Commerce) is the act of doing business electronically. This means that all your transactions are paperless and you use electronic means such as EDI (electronic data interchange), electronic mail, bulletin boards, fax transmissions, electronic fund transfers and the internet.
E-Commerce is by no means a new concept, even though with the internet the use of e-commerce has increased dramatically. E-Commerce has been implemented in the banking system for a long time (ever sent an electronic funds transfer?) and most businesses have been using EDI (Electronic data interchange) to transmit computer readable data in a standard format to another business. With the rapid increase of use by consumers and businesses of the internet, e-commerce is now another option for many businesses.