Online transaction

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Online transaction

  1. 1. “ONLINE TRANSACTION” Presented By- Gourav Harvande.
  2. 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. 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. 4. PARTICIPANTS  Cardholder  Merchant  Issuer  Acquirer  Payment gateway  Certificate authority(CA)
  5. 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. 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. 7. STEPS IN ONLINE TRANSACTION
  8. 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. 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. 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. 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. 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. 13. “THANK YOU…!!!!”

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