Elaborate the steps involved in online trading.
Elaborate the steps involved in online trading.
Process of Online Trading
Registration:
• Registration means that you have an 'account' with the online vendor.
• Among various details that need to be filled in Is a 'password' as the sections relating to your 'account', and 'shopping cart' are password protected
Placing an order:
• You can pick and drop the Items in the shopping cart. • Shopping cart is an online record of what you have picked up while browsing the online store
• After being sure of what you want to buy, you can 'checkout'
Payment Mechanism:
• Purchases through online shopping may be done in a number of ways:
• Cash-on Delivery: Payment for the goods ordered online may be made in cash at the time of physical delivery of goods.
• Cheque: The online vendor may arrange for the pickup of the cheque from the Customers end. Upon realisation. the delivery of goods may be made.
• Net-banking Transfer: Modem banks provide to their customers the facility of electronic transfer of funds over the Internet using Immediate Payment Services (IMPS), NUT and RIGS
• Credit or Debit Cards: Credit card allows its holder to make purchase on credit. The amount due from the card holder to the online seller is assumed by the card issuing bank, who later transfers the amount involved in the transaction to the Credit Of the seller. Debit card allows its holder to make purchases through it to the extent of the amount lying in the corresponding account. The moment any transaction is made, the amount due as payment is deducted electronically from the card.
• Digital Cash: This type of currency has no real physical properties, but offers the ability to use real currency in an electronic format like e-wallets Paytm etc.
Process of Online Trading
Registration:
• Registration means that you have an 'account' with the online vendor.
• Among various details that need to be filled in Is a 'password' as the sections relating to your 'account', and 'shopping cart' are password protected
Placing an order:
• You can pick and drop the Items in the shopping cart. • Shopping cart is an online record of what you have picked up while browsing the online store
• After being sure of what you want to buy, you can 'checkout'
Payment Mechanism:
• Purchases through online shopping may be done in a number of ways:
• Cash-on Delivery: Payment for the goods ordered online may be made in cash at the time of physical delivery of goods.
• Cheque: The online vendor may arrange for the pickup of the cheque from the Customers end. Upon realisation. the delivery of goods may be made.
• Net-banking Transfer: Modem banks provide to their customers the facility of electronic transfer of funds over the Internet using Immediate Payment Services (IMPS), NUT and RIGS
• Credit or Debit Cards: Credit card allows its holder to make purchase on credit. The amount due from the card holder to the online seller is assumed by the card issuing bank, who later transfers the amount involved in the transaction to the Credit Of the seller. Debit card allows its holder to make purchases through it to the extent of the amount lying in the corresponding account. The moment any transaction is made, the amount due as payment is deducted electronically from the card.
• Digital Cash: This type of currency has no real physical properties, but offers the ability to use real currency in an electronic format like e-wallets Paytm etc.
