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E-Commerce "the function to buy or sell online" (Benefits (Price…
E-Commerce "the function to buy or sell online"
Benefits
Price "goods bought online tend to be cheaper"
Immediacy "no going to the shops or waiting in queue"
Choice "there are tools that allow you to compare for the best price"
24 hour availability
Speed "you'll locate what you're looking for much quicker"
Less paperwork
Global markets
Drawbacks
High investment needed
Security
Client server risk, Virus risk, Data transfer risk
Lack of skilled personnel "Lack of web developers and knowledgeable professionals"
Lack of communication
EFT
Electronic funds transfer "is the electronic transfer of money from one account to another"
Saves time as money is immediately transferred
Reduced risk of loss and theft
User-friendly