(1) Online transactions take place when a process of buying and selling are completed through the internet. For online transaction, registration is required. The consumer needs to login a particular website to buy a particular article or service. The customer’s email ID, name, address and other details are saved and safe with the website for further contact.
(2) When a customer likes a product or service, he/she selects, pick ups and drops the items or things in the shopping cart. The shopping cart keeps the systematic and detail record of what items have been picked up while browsing the online store.
(3) The buyer then proceeds to the payment option after selecting all the products. Payment can be made by accepting cash on delivery mode of payment, after receiving physical delivery of goods. The customer may pay in cash or by debit or credit card. The buyer also sends a cheque to the seller and the seller sends the products after the realisation of the cheque.
(4) If the payment is transferred by the buyer from his account to the seller’s account electronically, then after the payment is received by the seller, he sends the goods to buyer. The credit card or debit card is also used by the card holder for. making payment of purchases. The amount gets immediately transferred to vendor’s bank account. After the successful transfer of funds, goods are delivered by the vendor to buyer. Thus, all the aspects of online transaction are completed with the help of the internet.
