Elaborate the steps involved in on-line trading.

Steps involved in online trading are: 1. Registration: Before online shopping, one has to register with the online vendor by filling up a registration form. Registration means that you have an 'account with the online vendor. Among various details that need to be filled in is a "password" as the sections relating to your 'account7' and 'shopping cart' are password protected otherwise, anyone can, log in using your name and shop in your name. This can put you in trouble. 2. Placing an order: You can pick and drop the items in the shopping cart. The shopping cart is an online record of what you have picked up while browsing the online store. Just as in a physical store you can put in and take items out of your cart, likewise, you can do so even while shopping online. After being sure of what you want to buy, you can 'checkout' and choose your payment options. 3. Payment Mechanism: Payment for the purchases through online shopping may be done in a number of ways: (i) Cash on delivery (COD), (ii) Cheque. (iii) Net banking transfer. (iv) Credit cards. (v) Debit cards. 4. Digital cash: Digital cash is a type of electronic currency which is found only in cyberspace. It has no physical real properties but still can be used as a real currency in an electronic format. The amount equal to the digital cash which the buyer wants to get issued in his favor is deposited by him in the bank dealing with digital cash through cheque, drafts, etc. The bank sends a special software to the buyer. Hence, while making online purchases, the buyer can make the payment by drawing digital cash from his account with the bank. read less

The following steps are involved in online trading: 1. Registration: For doing online trading one has to create account with one of the trading service provider. For this user has to register with the provider. This process includes providing personal information, address details. User has to create his credentials (user name and password) to login into account for doing online trading. Credentials secure the account from unauthorized access and transactions from user's account. 2. Placing an Order: Once logged in user can select the desired items and add them into shopping card. Shopping cart maintains records of all items which user wich to purchase. Shopping cart shows following information: a. Product description (make, model, brand, quantity) b. Price per item c. Applicable taxes d. Any available discount e. Final cart value It also provide option to remove any item or increase the quantity. When user to checkout i.e. final payment for the selected items, user can make the payment using one of the option: a. Cash on Delivery. b. Cheque. c. Net-banking Transfer. d. Credit or debit card. e. Digital cash. f. Digital Wallet. read less