The selling, as well as buying of goods as well as services with the use of the internet as well as transferring money and data online, are what we call the platform of eCommerce, which is also known as electronic commerce. The selling of physical products but through online medium through a merchant account is what eCommerce is. But it can be any commercial transaction with the help of the internet. We are the best E-commerce Merchant Account Providers In USA
On August 11, 1994, the first eCommerce service started when a man sold a CD through his website NetMarket, an American retail platform. That was the first example that a consumer purchased a product with the help of the internet from a business which we now call as eCommerce.
Since then, eCommerce has grown a lot as it made the platform for the consumers way easier to discover from the E-commerce merchant account as well as the purchase through those online retailers. Whether it’s an independent freelancer, a small and large business, you showcase your product on the internet through your E-commerce merchant account so that everyone can discover it and purchase it, which will lead to a considerable benefit to the sellers.
Four types of Ecommerce models are there:
- Business to Consumer model, which is basically when a business or an online retailer sells their good as well as services to only an individual through their E-commerce merchant account.
- Business to Business model is a business selling their goods and services to another business from their merchant account.
- Consumer to Consumer model is a consumer selling their goods or any service to another consumer like old furniture or a vehicle etc.
- Consumers to a business model is a consumer selling their product or services to the business for greater exposure of their service like a photographer giving license of his photo to a business group for using it.
Some of the forms of eCommerce for its transactional relationships among the business and consumers through merchant account can be explained as:
- Retail: Here, the product sale is made directly to the consumer without anyone in the middle through the E-commerce merchant account.
- Wholesale: Here, the sale of the product is generally made in bulk first to the retailer with the help of a merchant account, and then the sale is made between the retailer and the consumer.
- Dropshipping: By the use of a third party, the sale of the product from an E-commerce merchant account is made, which is manufactured as well as shipped directly to the consumer.
- Subscription: For the rise of the startup capital in the market, the money is collected from the consumers beforehand for selling their product.
- Subscription: The automatic purchase of a good or services to the consumer unless they unsubscribe.
- Physical products: Any good which is needed to be available to the consumer physically after the shipping.
- Digital products: any downloadable services or products like any courses or media bought from a licensed eCommerce merchant account for use.
- Services: For the exchange of compensation, a skill is provided to the consumer where the provider of the service’s time can be freely purchased.