E-commerce is not well developed and conducting business on the Internet and ordering online while paying with a credit card is still rare. The financial sector leads the way with many commercial banks offering e-banking to their clients. According to a research study carried out by students at the Burch University in Sarajevo, the reason e-commerce has not taken off in Bosnia is not infrastructural nor technological but cultural. They point out that the technologies needed for the implementation and development of e-commerce in the country are available and online shops do exist in Bosnia and Herzegovina, but the population is not yet accustomed to shopping online. Mobile devices are not yet used for doing business online, mainly due to high mobile internet service prices. Bosnia was one of the last countries in the region to develop and adopt a major e-business law and related regulations.