Electronic money gives flexibility to the owner because it is paperless and can be transferred around with the use of technology such as the internet. It works through the use of a “public and private key” system, which allows user to access his or her account through the use of a security pin code. Generally, it is also identified by the terms e-money, digital cash, digital currency or electronic cash.
Commerce refers to all the activities surrounding the purchase or sale of goods or services. As we step into the next century, the Internet promises to bring unpredictable change in the society. Spanning the entire globe, crossing all boundaries, the net has redefined the methods of communication work, study, education, interaction, Entertainment, Health, Trade and commerce. There are some activities in commerce such as marketing, sales, payment, fulfillment, customer service etc.