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• Commerce is defined as the exchange of goods and services between two or more entities.
• Traditional Commerce refers to business transactions or information exchange, as well as buying and selling products/services from person to person
• Brick and Mortar - a traditional street-side business that offers products and services to its customers face-to-face in an office or store that the business owns
• Electronic Commerce - companies and individuals that buy and sell goods and services over the internet using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT).
• Digital Commerce includes buying and selling goods and services online.
• Online Selling - process of selling goods, products or services via an internet or mobile app, auction site,
• Electronic Data Interchange (EDI) is the structured transmission of data between organizations by electronic means. It is used to transfer electronic documents or business data
• Electronic Funds Transfer (EFT) is the electronic exchange or transfer of money from one account to another.
• Fifth Industrial Revolution

  > Mechanization

  > Industrialization

  > Automation

  > Digitation/digitalization

  > Artificial Intelligence
• • Mechanization in the 17th century, people developed basic and simple machine.
• • Industrialization in the 18th century, manufacturing companies started to use machines for massive production, the transition from creating goods by hand to using machines.
• • Automation in the 19th century, automation of transactions such as  introduction of automated teller machine (ATM). It is a combination of mechanization and automation.
• Digitization/Digitalization – transactions made more convenient, introduced mobile applications.
• Artificial intelligence (AI) - the simulation of human intelligence processes by machines, especially computer systems.
• Type Of E-commerce

  Business to Business

  Business to Consumer

  Consumer to Business

  Consumer to Consumer
• B2B

  • refers to full spectrum of e-Commerce that can occur between two organization. It encompasses all electronic transactions of goods or services conducted between companies.
• B2B

  • Producers and traditional commerce wholesalers typically operate with this type of electronic commerce.
• B2C 

  • electronic business relationships between businesses and final consumers.
• B2C 

  • refers to exchange between business and consumers. 
• C2B

  • refers to consumers bonding together to present themselves as a buyer group.
• C2B

  • This type of e-commerce is very common in crowd sourcing based projects.
• C2B

  •  A large number of individuals make their services or products available for purchase for companies.
• C2C

  • refers to transaction or exchange between and among consumers.
• C2C

  • Transactions where one consumer sells a product or service to another consumer.
• ”THE FUTURE OF MONEY IS DIGITAL CURRENCY” - Bill Gates
• Electronic Payment System (e-Payment) is a type of payment conducted via electronic or online mediums.
• Online payment systems eliminate the need for cash or cheque payments. It is a unique payment method that allows you to conduct online transactions via digital wallets
• Major Payments in PH

  • Check
  • Credit Card
  • Debit Card
  • Stored Value Cards
  • PDDTS
  • PHILPASS
• Check

  • It is classified as non-cash payment instruction given in paper form by a private individuals or bank.
  • Used  by consumers for bills and small value payments and for regular payments.
• Credit Card

  • Provided by banks that allow customers to borrow funds within a pre-approved credit limit.
  • Enables customers to make purchase transactions on goods and services.
• Debit Card

  •  Issued by a bank to checking account holders that used to access funds in the account.
  • Use to access cash from an ATM or to buy goods or services
• Stored Value Cards (SVCs)

  • Smart card-based alternative to cash funded in advance.
  • Contain a chip which stores currency and processes transactions.
• Philippine Domestic-Dollar Transfer System (PDDTS)

  • It provides the banking industry with a facility to move US dollar funds from one Philippine bank to another on the same day.
• Philippine Payments and Settlements System (PhilPaSS) 

  • Payment facility used by banks in settling their interbank payment transactions.
  • The payment is initiated by a paying bank through the transmission of an electronic instruction to transfer funds from demand deposit account (DDA) to DDA of the payee bank.
• Digital Currency is any type of currency that is managed, stored, and exchanged on digital computer systems, especially online.
• E-Wallet is a secure money management app or online platform that allows you to make purchases with retailers on-site, transfer or send money.
• Payment Gateway is a technology platform that acts as an intermediary in electronic financial transactions.
• One-Time Password (OTP) is an identity verification tool for authenticating users logging into an account, network, or system valid for only one login.
• Point-Of-Sale System

  • It facilitates the sale of goods and services through credit card authorization or debit card purchase on POS terminals located among the stores’ cashiers.
• Point-Of-Sale System

  • Is the central hub of a business; it creates the intersection between sales, inventory management, payment processing, and customer management.