The document discusses the impact of technology on banking and shopping. It explains that online banking and shopping have become more popular as they offer convenience and save time. Some benefits include being able to bank and shop 24/7, lower prices for goods purchased online, and more information available. However, there are also drawbacks such as security risks, lack of personal assistance, and potential delivery and return problems with online shopping. Overall, the document outlines how technology has changed banking and shopping through online services while also acknowledging some disadvantages.

1. Applied GCE Unit 1 Life in the Information Age

2. Learning Outcomes Lesson 10 By the end of the lesson, you should: understand the impact on banking and shopping see the effect that technology has recognise the advantages and disadvantages of using ICT for banking and shopping

3. Banking and shopping Information Age has been subtly changing the way we conduct our lives as consumers Developed world is rapidly becoming a self-service economy Approach to banking changed over recent years Lesson 10 Learning outcomes: Understand the impact on banking and shopping ; effect of technology; advantages and disadvantages

4. Banking and shopping Lives get busier all the time Anything that saves time is going to be popular even if people are initially wary Possible to bank and shop 24 hours a day from the comfort and convenience of your own home Lesson 10 Learning outcomes: Understand the impact on banking and shopping ; effect of technology; advantages and disadvantages

5. Online banking According to Forrester Research 60 million (1 in 5) Europeans in the EU banked online in 2003 Expected to rise to over 130 million by 2007 Information on state of accounts is always available Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology ; advantages and disadvantages

6. Online banking - benefits Survey done by Pew Internet and American Life Project shows top six reasons for online banking are: Convenience Saves time Better control over finances Privacy, not having to talk to anyone More information online than in a branch Saves money More bank services available online Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology; advantages and disadvantages

7. Online banking - drawbacks Imagined and real security risks Online banks have made risk low by giving 100% guarantee against internet fraud Banks reluctant to publicise how much is lost – may undermine confidence in them Lack of personal service / individual assistance Actual transactions made during banking hours Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology; advantages and disadvantages

8. Online shopping 30% of adults have purchased items online Popular examples of online buying Concert tickets Holidays and other travel Groceries Books and CDs Computers and computer accessories Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology ; advantages and disadvantages

9. Online shopping - benefits Lower prices Lower overheads means stores charge less Early days of very low prices are gone as popularity increase Convenience Researching hundreds of outlets in one go Goods delivered to home Choice Perception that choice is limitless Is this the case? Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology; advantages and disadvantages

10. Online shopping - drawbacks Delivery problems Often at the convenience of the carrier rather than the customer to reduce costs Hidden costs Prices often quoted without postage and packing Number of hidden extras only apparent just before payment Returns Difficulty of arranging Repeat of the ‘waiting in’ process Security Goods never received, or late and damaged Individuals have lost more than £20,000 in a single transaction Method of payment compromised Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology; advantages and disadvantages

11. Online banking and shopping Many people have been worried about using online services because of Credit card fraud Uncertainty that trader will deliver Every time we complete a successful transaction, more likely to do it again – gain confidence Lesson 10 Learning outcomes: Understand the impact on banking and shopping; effect of technology; advantages and disadvantages