A qualitative exploration into conditions for diffusing e-commerce in Serbia was conducted by using a multidimensional model. Serbia is a country located at an important geographical location in southeast Europe, which descended on a path of political and economic changes after a decade of stagnation. Our main finding is that the process of diffusing e-commerce in Serbia resembles a car hesitating at a traffic light because all lights are flashing at the same time. Dynamics within the areas of software industry, epayment/e-banking, and legislation support e-commerce. In contrast, the telecommunications infrastructure and ownership as well as customer beliefs and behaviors halt it. The ambivalent yellow light is triggered by the state of traffic/delivery and education.