Answer:
Online transactions occur when a process of buying and selling takes place through the internet. Transactions between the buyer and seller that are carried out and completed with the help of internet are called online business transactions.
The steps involved in online transaction are as follows:
i. Registration:
The consumer has to register online on the particular website to buy a particular good or service.
ii. Placing an Order
When a customer likes a product or a service, he/she puts the product in the ‘shopping cart’.
The buyer then proceeds to the payment option after selecting all the products.
iii. Payment
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.
Step-by-step explanation:
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