Online Transactions, Payment Mechanisms, and Scope of E-Business

Vocabulary flashcards covering the steps involved in online shopping, payment mechanisms, and B2C commerce based on the lecture transcript.

Cash on Delivery

A payment mechanism where the payment for goods ordered online is made in cash at the time of physical delivery of the goods.

Cheque

A payment method where the buyer sends a cheque to the online vendor, and the goods are delivered upon realization of the cheque.

Net-Banking Transfer

A payment mechanism where the buyer instructs their bank to electronically transfer the amount from their account to the account of the online vendor.

Credit Card

The most popular payment method in online shopping, allowing the buyer to make purchases on credit while the issuing bank transfers the amount to the vendor's account and debits the buyer's account later.

Debit Card

A payment card allowing purchases up to a specified amount, where the amount is deducted electronically from the card as and when the purchase is made.

Digital Cash

A form of electronic currency existing in cyberspace issued by a bank, drawn using special software to make purchases over the internet while avoiding credit card security problems.

Shopping Cart

A digital mechanism on a seller's website into which a buyer drops selected items while browsing prior to choosing payment options.

B2C Commerce

A constituent of e-business that includes transactions conducted between a business firm and its ultimate customers, such as online shopping, online advertising, and ATM services.