Online transaction is a payment method in which the transfer of fund or money happens online over electronic fund transfer. Online transaction process (OLTP) is secure and password protected. Three steps involved in the online transaction are Registration, Placing an order, and, Payment. Let us learn more about the different stages of Online Transaction in detail.
Online transaction processing(OLTP) isinformation systemsthat facilitate and manage transaction-oriented applications, typically for data entry and retrievaltransaction processing. So online transaction is done with the help of the internet. It can’t take place without a proper internet connection.
Online transactions occur when a process of buying and selling takes place through the internet. When a consumer purchases a product or a service online, he/she pays for it through online transaction. Let’s find out more about it.
The buyer then has to select the payment option, he/she has various payment options. These payment pages are secured with very high-level encryptions so that the personal financial information that you enter (bank/card details) stay completely secure. Some ways in which you can make this payment are:
Sol. The correct answer is the option ”D”.E-commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.
Q.In which of the following, personal digital assistants (PDAs) are used for buying and selling of goods and services?
Sol.The correct answer is the option ”B”.M-commerce (Mobile Commerce) is the buying and selling of goods and services through wireless handheld devices such as cellular telephone and personal digital assistants (PDAs)
In this, It happens via confirmation of the OTP sent to your phone, which is very well secured. There is no need to do any kind of paperwork in online transactions. There are three stages of online transaction i.e. first - registration, second - placing the order, and third - online payment.
Online transaction is a payment method in which the transfer of fund or money happens online over electronic fund transfer. Online transaction process (OLTP) is secure and password protected. Three steps involved in the online transaction are Registration, Placing an order, and, Payment.
The customer first chooses an item to purchase and completes the checkout process. They'll choose to pay via credit/debit card and enter their card details on your payment page. 2. Next, the card information is transferred to the payment gateway.
The very first step in online transaction is registration. A person is required to register himself and his basic information with the vendor so that authentication of a person can be done and transactions can be carried out without any hassle in future.
Transaction processing systems generally go through a five-stage cycle of 1) Data entry activities 2) Transaction processing activities 3) File and database processing 4) Document and report generation 5) Inquiry processing activities.
The first four steps in the accounting cycle are (1) identify and analyze transactions, (2) record transactions to a journal, (3) post journal information to a ledger, and (4) prepare an unadjusted trial balance. We begin by introducing the steps and their related documentation.
OLTP or Online Transaction Processing is a type of data processing that consists of executing a number of transactions occurring concurrently—online banking, shopping, order entry, or sending text messages, for example.
Initiation. The customer provides their payment details—like card number or bank account information—at the business's POS, card reader, or ecommerce checkout.
SET is a security protocol that enhances online payment security and integrity, especially those involving debit and credit cards. SET protects electronic payments by encrypting personal card details and authenticating users through digital certificates.
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