How e-commerce has evolved over the years
Over the past couple of years, e-commerce has evolved a lot. This can mainly be attributed to e-commerce adopting many technology applications. E-commerce has even changed in the way we use it. The evolution of e-commerce is not going to stop anytime soon. To see this you will need to go back to the beginning of e-commerce. E-commerce stands for electronic commerce. This means the exchange of goods and services online. The “e” in e-commerce stands for electronic. E-commerce is actually many decades old and has been around for a long time now. This means it has probably gone through a lot of evolution over the years. E-commerce became possible when the internet was opened for commercial use. This occurred in 1991. It catapulted e-commerce into a new era.
How e-commerce has evolved in terms of payment
The problem with the early stages of e-commerce is that customers and businesses could not conduct payments online. This means that they needed to send a check by regular mail or go to the transactions. This was only possible for B2B e-commerce models when large companies were doing business with each other. Payment became possible with the invention of credit cards which could be used to facilitate online payments. This gave rise to the new e-commerce era. At this moment in time a small segment of the population was well versed in e-commerce, but over the years the number has increased.
How e-commerce has evolved through technology
E-commerce technology didn’t end with the payment methods. It continued through the years as the software changed and new user friendly platforms where introduced in e-commerce. E-commerce later incorporated AI or artificial intelligence to its services. This made e-commerce far much better to use. Social media boosted e-commerce marketing capabilities over the years.