Electronic commerce (e-commerce) is a major development in the global economy. It involves business conducted on the Internet and other network based data inter-change systems. E-commerce will continue to affect fundamentally the way economic activities are conducted in financial services, telecommunications, entertainment, and various other services. Internet access and use is likely to grow rapidly. For example, long ago a telegraphic transfer was used to transfer funds abroad where a transfer charge is often charged by the sending bank and in some cases by the receiving bank. Today we can sit in our homes and transact business once you have a credit card.
Reference: Calculus of Inequality
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