e Banking vs e Commerce
e Banking and e Commerce refer to electronic mode of doing business. This is the age of computers and internet and it is making its presence felt in all walks of life. Banking and trading have not remained aloof and have embraced advancements gleefully to make both banking and buying and selling easier, fast and more convenient for people. The difference between e banking and e commerce is self evident and is clear from the phrases. However, there are overlapping as e banking is often involved in many cases of e commerce.
E banking or online banking is nothing but 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. Customers are happy as they are not required to go to the bank physically for various reasons and can conduct financial transactions even in the middle of night when the banks are closed. This has led to a revolution of sorts and has in fact given a boost to trade and commerce.
E commerce is the name given to trading activities that are conducted using the power of internet. E commerce is simply online transactions. Buying and selling of goods and services using money through internet. E commerce can be between businesses to businesses when it is called B2B or business to consumer when it is called B2C.
The biggest attraction of e banking and e commerce lies in the fact that they are fast, convenient, and money saving. Imagine going physically to your bank for trivial reasons but having to take your car and spending money and time in driving, parking and having to face traffic on road. All this time and money is saved when a customer avails e banking. Similarly if there is a product that is not available in your city or area and you find it on a website and really need it, you can avail the facility of e commerce to pay for the product using online banking and getting it which other wise would take a lot of time and money to reach to your doorstep if you use traditional means of paying. Probably one thing that makes e banking and e commerce most attractive is the ability of the user to access his money anytime of the day whether the bank is open or closed.
Talking of differences between e banking and e commerce, it is clear that e banking is the tool that makes people get to their money and account in a fast and easy manner whereas e commerce 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.
Leave a Reply