Transaction process

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Showing the Transaction process in image

Search:

  • The prospective customer has to find an appropriate vender by using various web sites, either directly or through a search engine.

Order:

  • The vender has been found and goods are identified, the customer makes contact and negotiates the terms

  • Registration form to have an account with a password

  • He can place the order for the items

  • Put by him in his virtual shopping cart

Payment:

  • The normal way for paying on-line purchases is by the credit card.

  • The customer enters the credit card numbers, expiry date and billing address on the order form, and the vendor can verify the details

  • Debit cards, or store’s value cards can also be used for the purpose.

Delivery:

  • The payment is made or is assured, the vendor arranges for delivery of goods as per instructions of the buyer.

After Sales Service:

  • In any transaction, there can be problems like damaged or faulty goods.

  • For items such as machinery or consumer durables, there can be a provision of warranty or maintenance.

  • The e-Vendors have to make the necessary arrangements for attending to such complaints and services.

Precautions for Security

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Showing the Precautions for Security in image

Passwords:

  • In on-line shopping, one has to register with the on-line vendor to have an account with him.

  • This provides for a password to avoid login by an unauthorized person.

Authentication:

  • Sender of the message must be identified precisely using the off-line validation, if necessary.

  • This avoids any possibility of fraud or misuse of the password.

Encryption:

  • It refers to the conversion of data into a code so that it cannot be read by other users.

  • The data is converted into the code by the sender and then decoded by the receiver

  • The other alternative is the private (secret) key system.

Digital Signatures:

  • A digital signature may be used to authenticate.

  • The digital signature is considered very secure provided

Trusted Third Parties:

  • Another way to ensure security is to transmit a copy of the transaction to a third party trusted by both sides

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