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· 19 Feb 2022

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What is e-commerce and how online trading works

E-commerce - it is also electronic commerce or e-commerce - combines all sites and services where payment is made online. First of all - online stores that accept electronic payments
In fact, e-commerce is not only financial or commercial transactions carried out using networks, but also chains of global business processes associated with transactions.
Today, e-commerce includes the electronic purchase or sale of goods through online services or via the Internet, mobile commerce, electronic funds transfers, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems.
We https://dinarys.com/ecommerce-marketplace create marketplace solutions of various formats, levels of complexity and general purpose - you just tell us what you are looking for. An online store is a platform that you can use to connect numerous third-party providers over the Internet and increase your commercial profits.
The use of electronic trading systems in international trade transactions is based on the following aspects:
1. Determination of the transaction price - depending on the cost of transportation, customs fees for buyers from different countries, there will be different prices. Exporters can use the services of customs brokers for such purposes or create a department of foreign trade operations;
2. The use of standard Incoterms trade terms - they distribute between the parties the responsibility for paying the costs of transportation, insurance, duties. With the exception of the duty-paid delivery option, all Incoterms require that all duties and taxes be paid by the buyer upon arrival of the goods;
3. Payment - depending on the e-commerce segment, participants can use various forms of payment. In the B2C segment, the main thing is to accept payments using Mastercard, VISA, UnionPay, JSB, etc. bank cards, including using services for processing such payments. For the B2B segment, the main form of payment remains a bank transfer using electronic payment systems. In the C2C segment, payment is practiced using electronic payment services;
4. Leveling the risk - with a remote transaction and payment, the seller is exposed to a certain risk. The risk may be associated with potential fraud or with a claim payment. The most difficult aspect of e-commerce is manifested in the requirements of the issuing bank to cancel the payment on behalf of the bank card holder. More than half of these claim payments are related to fraud. The main risk leveling factor is the involvement of intermediaries in the electronic procedure for accepting payments;
5. Information support - exporters and importers are required to provide basic customs information to government agencies and transport companies. The information support is based on the customs classification, while digital codes are used to determine the applicable tariffs. Electronic sales require information support, including to determine the possibility of applying a preferential regime, free trade agreements, etc.;