Terms in this set (9)

1.People can now buy bit-based products over the World Wide Web.
2.A bit-based product is software, music, or a video.
3.If you purchased documents, information, magazines or, electronic newspapers over the Internet, you purchased a bit-based product.
4. People buy these and other goods and services by using a credit card, but many folks are leery of the lack of security whenever they give out their credit card number over the Internet.
5.Could thousands of people illegally tap into their credit line?
6.E-cash may be the answer, because a pre-paid card offers security.
7.Bit-based cash, commonly known as e-cash, can be spent and transferred over the Internet or on Smart Cards without anyone knowing who the buyer is.
8.A Smart Card (an e-cash card) may soon make it possible for a person to hook up to an electronic network of banks, for example, and be able to download cash, make transfers and payments, and perform other banking functions without running the threat of losing their financial privacy.
9.Although America is slow to accept the e-cash card for many types of business, the benefits are becoming obvious.
10.E-cash would be especially useful in international trade, as an internationally accepted e-cash card would be recognized around the world.
11.Internet commerce-based transactions with this "smart card" could help consumers avoid costly tariffs and high costs if they comparatively shop on the Internet with e-cash.
12.Month by month we see the e-cash card becoming more readily accepted.