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Electronic business (e-business) refers to the use of the Web, Internet, intranets, extranets or some combination thereof to conduct business. E-business is similar to e-commerce, but it goes beyond the simple buying and selling of products and services online.

Electronic funds transfer is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.

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Advantage - online shopping saves times. Can compare prices from different retailers
Disadvantages - Fraud.
Hidden costs and shipping charges

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Advantages

Always being open

Saving on gas

No parking hassles

No aggressive salespeople or annoying crowds

No waiting in long lines to check out

Being able to read reviews about the products being purchased

More choices for buying refurbished products

Disadvantages

Not having the ability to physically inspect or try on the items being considered for purchase

Losing the power to negotiate price and payment terms that may exist in local stores

Items being on backorder and not finding out until weeks later, which is particularly problematic when buying gifts

Not always knowing if a site is a legitimate store and if it's safe to shop

Paying restocking and shipping costs on returns

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It saves time as there is no need to travel to the bank
Old and disabled people can carry out online banking
Saves cost as no employees required

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Advantages-
24/7 account and service access
Speed and efficiency

Disadvantages-
Security issues
No relationship with personal banker

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An electronic fund transfer moves money from one account to another.
The transaction is done electronically over a computerized network.
EFT transactions are also referred to as electronic banking.

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E-business

E-business (electronic business) is the conduct of business processes on the internet. These e-business processes include buying and selling goods and services, etc.

E-business can comprise a range of functions and services. They range from the development of intranets and extranets to the provision of e-services over the internet by application service providers.

EFT

An electronic fund transfer moves money from one account to another. The accounts can be at the same financial institution or two different financial institutions. The transaction is done electronically over a computerized network. EFT transactions are also referred to as electronic banking.

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Online Business or e-business is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business.

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- An eBusiness is an electronic one that carries out most of its transactions using the internet.
-EFT is electronic funds transfer. It transfers money electronically from one banking institution to another.

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In eBusiness, selling of goods and services is done online. This can also include payment of good/services bought by the buyer.

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Adv: convenience
better variety of prices
more control
Disadv: Risk of fraud
shipping delays and issues
no sales assistance

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Advantage  and disadvantage of Online Shopping

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Advantage  and disadvantage of Online Banking

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Explain how IT is used in eBusiness

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Explain eBusiness
Explain EFT

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Unit 12 –Role and impact of IT in society

12.1 eBusiness
12.02 Online shopping
12.03 Online banking
12.04 Electronic funds transfer

Evaluate the impact of information technology on eBusiness