An e-Marketplace is a virtual online market in which business buyers and business sellers can buy and sell goods and services. e-Marketplaces have three main functions: they allow buyers to easily find and sellers to easily promote products; they facilitate e-Commerce such as online ordering and payment and they create a framework for the legal conduct of transactions. Typical elements of an e-Marketplace include the seller’s portal, catalogues of the products, a search engine, a shopping cart and a payment gateway. There is a variety of types of e-Marketplace, with some offering online auctions, some private marketplaces set up for a single organisation and some independent marketplaces run by third parties for multiple sellers and buyers in a particular industry. See also e-Commerce.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.