Online transaction
This document discusses online transactions. It begins by defining online transactions as covering both computer and mobile transactions that allow users to view accounts, transfer funds, and make payments with 24/7 access. The main features highlighted are users having control, the ability to access accounts from anywhere, making electronic payments, transaction speed, time savings, and flexibility. The participants in online transactions are identified as the cardholder, merchant, issuer, acquirer, and payment gateway. The document then outlines the 10 step process for how an online transaction works, from opening an account to receiving goods or services. It also discusses e-money as an electronic form of money used for online payments, and provides security tips for online transactions. Potential disadvantages discussed include system
Online transaction
- 1. “ONLINE TRANSACTION” Presented By- Gourav Harvande.
- 2. INTRODUCTION Online transaction covers both computer and mobile transaction. Allows to view recent transactions,print out statements,transfer funds between account and to make payments. Provides 24 hours access to bank account. Also known as online banking or internet banking.
- 3. FEATURES OF ONLINE TRANSACTION User in control Can log on from almost anywhere Makes all payment electronically Transaction speed Saves time Convenient Flexible
- 4. PARTICIPANTS Cardholder Merchant Issuer Acquirer Payment gateway Certificate authority(CA)
- 5. STEPS IN ONLINE TRANSACTION How it works?? 1. The customer opens an account. 2. The customer receives an certificate. 3. The merchant receives an certificate. 4. The customer places an order. 5. The merchant is verified. 6. The order and payment detail sent to the merchant along with customer digital certificate. 7. The merchant request payment authorization.
- 6. STEPS IN ONLINE TRANSACTION 8. The payment gateway authorizes the payment. 9. The merchant confirms the order. 10.The merchant provides goods or services as per order. So by using digital certificate payment details are kept secret from merchant..he cant read it!!
- 7. STEPS IN ONLINE TRANSACTION
- 8. E-MONEY E-money is another way of making payments on internet. Its nothing but money represented in computer files(binary form). Also known as electronic cash or digital cash.
- 9. HOW TO OBTAIN E-MONEY Customer opens account . When he need e-money he sends encrypted email to bank. The bank authenticates mail n debits same amount in the form of computer files in customer account which is also encrypted. When customer wants to purchase he sends same encrypted files to merchant. The merchant sends same files to the bank. the bank verifies them and credits merchants account with same amount.
- 10. SECURITY TIPS FOR TRANSACTION 1.Do: Make sure that you are on correct web site. Choose password that will not be easily decoded. Delete browser settings, history and cookies after log out. Be sure of log out. Monthly checking and check credit card statements carefully.
- 11. SECURITY TIPS FOR TRANSACTION 2.Do not: Disclosure of personal information such as credit card no. Having other browser open. Download or open files from strangers. Telling id and password in e-mail.
- 12. DISADVENTAGES Transaction can be impacted if the database is unavailable. System failure or network availability. Also requires offline maintenance. Can be complex for beginners. Online transaction can be complete success or complete failure.
- 13. “THANK YOU…!!!!”