Which statement best describes an Electronic Commerce Transaction?

The statement indicating that a transaction is conducted using cardholder access over networks accurately describes an Electronic Commerce Transaction. This definition captures the essence of e-commerce, which fundamentally relies on electronic networks for the transfer of goods, services, or information. In e-commerce, the interaction typically occurs over the internet, where cardholders (customers) can access products or services through various digital platforms, enabling the use of electronic payment methods such as credit or debit cards.

E-commerce encompasses a wide range of activities, including online retail, digital payments, and various services facilitated through internet connections, making the use of cardholder access via networks a critical component. This approach allows for convenient transactions without the need for physical cash or face-to-face exchanges, differentiating it from traditional commerce.

While secure payment methods and customer identification could be aspects of e-commerce transactions, they are not defining characteristics. Secure methods of payment are essential for protecting the integrity of the transaction, but e-commerce does not strictly require that all transactions must always be entirely secure at all times. Similarly, while customer identification may be important for establishing trust and preventing fraud, it is not a universal requirement in every transaction within e-commerce. The core of electronic commerce lies in the networked access and the electronic processing of payments