How is E-commerce facilitating Online Travel and Banking Services? E-commerce is facilitating online travel and banking services which are explained below:-

E-commerce is facilitating online travel and tourism

Travel and tourism have emerged as the largest service sold over the Internet. Online travel and tourism services provide the same connectivity on the World Wide Web (www) so that customers can search, select, and then book appropriate flights and fares. It comprises online travel & tour agents, airlines, conventional tour agents, and reservation methods.

The air travel industry is well appropriate to evaluate the outcomes of product separation. The basic commodity characteristics, i.e., airline tickets, are sufficiently standardized and have a good sense of detail, which allows them to clearly distinguish the benefits of online travel services.

Benefits of online travel services

  • Low overhead costs: The cost of providing online travel services to a wide range of customers over the world is very low. The tickets can be delivered online without any physical contact with the customer.
  • No commuting time or traffic jams: The customer can avail the services sitting at home, throughout the day. He need not commute to acquire the services thereby avoiding traffic jams.
  • Ease of set up: Establishing online travel business is easy. As more and more people use the Internet, the services have a broader customer base.
  • Information sharing: The customers benefit from the large amount of free information available on the Internet which can be accessed anytime.
  • Cost savings: With disintermediation in the channel of distribution, the customers benefit from the reduced costs.
  • Online Travel offers a one-stop shop, business and leisure travel experience where customers can find content, community, commerce and customer service.

E-commerce is facilitating banking services

Electronic banking saves time and money for users. This provides a cheaper alternative to bank branches and allows remote customers to join banks.

Benefits of online banking services

  • User can easily check the balance in his account and also can set up his account to pay off his credit card dues automatically every month.
  • User can pay his bills through online banking. The cost of paying bills electronically is less than the cost of postage of sending a large number of payments each month.
  •  User can transfer money between accounts without waiting in queues and without filling the deposit slips.
  • User can receive additional services such as phone banking.
  • Online banking can also help in international capital raising, cash management, trades and services, foreign exchange, risk management investments, merchant services and special services for international traders.

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