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Online ransaction rocessing O is information system that facilitates and manages.
Transaction-oriented applications, typically for data entry and retrieval of processing of transactions. Online
transaction covers both computer and mobile transaction.
Features of Online Transaction
In online transaction:
A user has full control on data.
Transaction can be done from almost anywhere.
Payments can be made anytime.
Transaction is faster, though delivery can be later.
ransactions are convenient and flexible.
Transactions can be recorded on their own, so they can be easily viewed afterwards also.
Wide range of products can be easily displayed and catalogued on screen.
Steps in Online Trading/Shopping
o do online trading shopping generally the following steps are taken:
Registration/Sign Up and Sign In: Generally, a customer has to register online (with e-mail ID, mobile
number name address password etc. on the particular e-commerce website. ustomer can login their
shopping account by using e-mail ID/mobile number and password.
Placing an Order: On every e-Commerce website, a ‘Shopping Cart’ is created for every customer. When a
customer likes a product, he can choose to buy and click on “Add to Cart”. Accordingly, the record of all the
items selected by the buyer along with, the quantity and the price are kept in the ‘Shopping Cart’.
Check Out and Payment: Once all things are added to cart, click on 'view cart' and ‘Proceed to Check-
out’. The buyer then selects the payment option, the payment details are secured with trusted encryption
techni ues so that the financial information Internet banking redit ard ebit ard details stay completely
secure. ayments are generally made by:
Pay On Delivery: In this option, the buyer makes the payment (by cash or transfer through Debit/Credit
card I to the delivery boy when he comes to deliver the product at the buyer s address.
Net Banking/Online Transfer: In such facility, payment is made to the payee account directly by transferring
value of money over Internet from the a/c of payer to the account of receiver. With the growth of Internet,
account transfers have been made very easy. It can be done with the help of Internet banking id and password.
If the payment is to be transferred to an account within the same bank, the amount gets transferred instantly.
If the payment is to be transferred to a bank account in some other bank, it may take some time for the
payment to get processed. After the payment is received by the seller, the seller dispatches the goods to the
buyer.
Credit or Debit Card: Debit or credit card is an instrument issued by a bank that helps to transfer required
value of money in the payee account by the beholder’s account against some transaction of a purchaser.
Such cards are not used for any purpose other than paying against purchase of goods or services.
Account transfer takes place online by entering the required information of purchasing and then entering
the identity of card bank name pin password etc. or the payee swipes the card in its swiping machine of
the seller and the card holder enters the IN after confirmation of amount to be paid.
370 Touchpad Information Technology-X

