Cyber Times International Journal of Technology & Management

Cyberspace has developed with almost incredible speed, certainly when compared with other forms of communication technologies. Telephone took 74 years before it could reach 50 million subscribers. Similarly Radio took 38 years to reach the same figure. With PC only 16 years elapsed. From its inception in1993, the www required only four years to acquire 50 million users. The Internet Technology has evoked unparalleled and easier ways of conducting day-to-day lives-be it business or trade or personal affairs. Business has been the biggest beneficiary. One of the major areas impacted by the Internet has been commerce. The traditional market structure has been transformed. In fact the whole globe has been converted into a market place. Manifold advantages have been unfolded both for seller as well as the buyer. The seller now can reach any part of the globe and the buyer has unlimited choice to access any seller. Efficiency has been greatly increased, paper work reduced time lag shortened and expenses lessened.