COMPUTER APPLICATIONS
E COMMERCE AND E BUSINESS APPLICATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cash
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Checks
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Credit cards
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Smart cards
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Detailed explanation-1: -E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business.
Detailed explanation-2: -The merchant sends their batched approved authorizations to the payment processor. The payment processor sends the authorizations to the card association. The card association forwards them to the issuing bank. The issuing bank transfers the funds to the merchant bank and charges an ‘interchange fee".
Detailed explanation-3: -There are three main types of e-commerce: business-to-business (websites such as Shopify), business-to-consumer (websites such as Amazon), and consumer-to-consumer (websites such as eBay).