What is E-Commerce?

What is E-Commerce? E-commerce is the practice of buying and selling products and services over the Internet, utilizing technologies such as the Web, electronic data interchange, email, electronic fund transfers, and smart cards. Global electronic commerce has exploded in recent years. According to O'Reilly & Associates, worldwide business access to the Web is expected to grow to 8 million by the year 2001. This growth, coupled with rapid changes in information technology and communication, is having a …

…also covers losses from unauthorized electronic access (such as home banking) to a member's account, resulting in a theft directly from a member's existing loan or line of credit. Plus, coverage is provided for losses caused through unauthorized access, such as a hacker getting through a firewall and gaining access to the share and loan data processing system, creating a loan, or increasing a line of credit without the credit union's prior knowledge or approval.