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1. Introduction
The internet has become a significant medium for international business based on the state of banking technology. Global trade has been carried out in a new way, electronically, means of internet and networks (Yang et al., 2019). Internet access has led to the development of electronic commerce (EC), where business transactions are carried out through telecommunication networks. There are two major facets, such as economic and technical, in the EC application. The stress of this course will show the beginning of the complicated and exciting world of electronic trade (Song et al., 2019). There are continually new trends and services in the world of the internet, and the proper awareness about the internet is necessary for the success of a company or banking, especially for the people who are given the burden of choosing, building and sustaining the infrastructure required.
Electronic Data Interchange has been extended to all money management systems such as banking transfers to participating businesses, banking companies to suppliers, merchants, providers of EC applications (Hassan et al., 2019). Many other implementations are followed like stock exchange to reservation travel systems. Such programs were identified as telecom implementations and became generally recognized for their strategic importance (Das et al., 2019). The term electronic commerce has been coined and EC applications rapidly expanded, as the Internet marketing started in the early 1990s and its rapid growth for millions of potential customers (Williams and Griffin, 2019). The creation of networks, protocols, applications and standards is one of the reasons for rapid technology growth (Saleem et al., 2019). The second reason is the increasing competition and the pressure to overcome other companies.
The manner in which customers communicate with financial services has altered recent technical advances, undermining the payment structure (Lau and Leimer, 2019). The growth of the internet, digitalization, changing in response to consumer preferences and regulatory reformations in all cases, have accelerated the start-up and use of e-payments. Web marketing and purchase data collection is possible through Web and EC, concerning consumer actions, interests, expectations and purchase habits. This tends to strengthen campaign practices like price raising, bargaining, product attributes and customer interactions (Khan et al., 2019). EC is widely used by financial enterprises for Clients...