What do you mean by ‘online transactions’ ? Discuss the process of online shopping from the buyer’s point of view.
What do you mean by ‘online transactions’ ? Discuss the process of online shopping from the buyer’s point of view.
Online transactions are those business transactions which are conducted electronically through the network of computer. Online transaction process can be understood through the given figure.
The process of online shopping from the buyer’s perspective is as follows.
(i) Registration—Before online shopping one has to register with the online vendor by filling up a registration form. Registration means to have an account with the online vendor. The buyer can log in using his password.
(ii) Placing an order—Now the buyer can pick the selected items in the shopping cart which is an online record of what he/she has picked up while browsing the online store. The buyer decides what he /she wants to buy, the buyer can checkout and choose payment options.
(iii) Payment mechanism—The payment for the purchase through online shopping can be done in any of the following ways :
(a) Cash-on- delivery (b) Cheque (c) Net banking Transfers (d) Credit or debit cards (e) Digital cash.
(iv) Delivery of goods—After making the payment through any of the above modes, the buyer takes the delivery of the goods, closing the transaction.
Online transactions are those business transactions which are conducted electronically through the network of computer. Online transaction process can be understood through the given figure.
The process of online shopping from the buyer’s perspective is as follows.
(i) Registration—Before online shopping one has to register with the online vendor by filling up a registration form. Registration means to have an account with the online vendor. The buyer can log in using his password.
(ii) Placing an order—Now the buyer can pick the selected items in the shopping cart which is an online record of what he/she has picked up while browsing the online store. The buyer decides what he /she wants to buy, the buyer can checkout and choose payment options.
(iii) Payment mechanism—The payment for the purchase through online shopping can be done in any of the following ways :
(a) Cash-on- delivery (b) Cheque (c) Net banking Transfers (d) Credit or debit cards (e) Digital cash.
(iv) Delivery of goods—After making the payment through any of the above modes, the buyer takes the delivery of the goods, closing the transaction.
