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Electronic commerce or e- commerce is an umbrella term used to describe Internet-based business practices and technologies; such as:

Using e-mail for communication;

Using electronic funds transfer (ETC) with your bank, distributors, suppliers or customers;

Using electronic credit card processing (CCP) for payment of funds or accepting payments; · Establishing a Web site for your business;

Implementing an Internet-based business or Electronic Data Interchange (EDI) with your distributor, suppliers and customers; or

Creating a virtual enterprise that fully integrates the design, manufacture, finance, inventory control, distribution and maintenance systems in your business.

It is growing in giant leaps. As access to the Internet expands, more and more people are entering the cyber marketplace from home computers. The growth rate of the Internet community currently stands at 300% per year. " World Tourism Organization (WTO) economists estimate that there will be 300 million Internet users worldwide by Year 2000."

" Founder and director of the Massachusetts Institute of Technology's Media Lab, (MIT-Boston) Nicholas Negroponte anticipates the dollar value of E-Commerce will reach US$1 trillion by the end of next year!"

Plug into the power of the Internet

Buy, sell and pay for things; access, use and share information; present, deliver and consume news, information and entertainment. The Internet is getting big, and it's happening fast: · Traffic over the Internet doubling every 100 days · Web site in July 1994:150, · Web pages in July 1998: 300 millions, 1.5 Million Web Pages Born Daily, · At Networld 98, industry analyst Nicholas Lippis announced that online commerce would generate USD1.5 trillion of US GDP by 2002.