Essay: E-Banking Versus E-Commerce

Sample Essay

Words 1,210

Abstract

Ebanking and Ecommerce are two names that are widely used these days. These terms are fruits of internet and facilitation provided to consumers with the use of technology and is an effort to earn profits by businesses using internet. However these terms are somewhat different; and these differences are discussed in this essay as follows:

This is the age of computers and internet and it is making its presence felt in all walks of life. Therefore, Ebanking and Ecommerce refer to electronic mode of doing business.  The biggest attraction of Ebanking and Ecommerce lies in the fact that they are fast, convenient, and money saving.  Ebanking and Ecommerce have removed and eliminated the hassle of unnecessary driving, parking and having to face traffic on road for trivial reasons. All this time and money is saved when a customer avails Ebanking and Ecommerce as now a product is made available in customers’ city or area by delivering it to their doorsteps. Probably one thing that makes Ebanking and Ecommerce most attractive is the ability of the user to access his money anytime of the day whether the bank is open or closed, similarly getting the required product or service at doorsteps. (Paul J.)

The difference between Ebanking and Ecommerce is self evident and is clear from the phrases. However, there are overlapping as Ebanking is often involved in many cases of Ecommerce.

Ebanking

Ebanking or online banking is allowing a customer to use internet to access his account anytime he wishes sitting in the comfort of his home or office or anywhere else. E banking, which started slowly has today become a need and also allows banks to cut down on expenditure involved with extra staff. Due this facility customers are happy as they are not required to go to the bank physically for various reasons and can carry out financial transactions any time 24/7.

Ecommerce

Ecommerce is the name given to trading activities that are conducted using the power and technology of internet. Ecommerce is simply online transactions of buying and selling of goods and services using money through internet.

Talking of differences between Ebanking and Ecommerce, it is clear that Ebanking is the tool that makes people get to their money and account in a fast and easy manner whereas Ecommerce is a tool that allows not only companies to transact business with each other but also to buy and sell products and services using internet.

Thus Ebanking is related to access bank accounts and perform transactions using internet and Ecommerce is related to make available business of companies to customers on internet.

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