Online Transactions

Online Transactions

Many people are now using a debit Visa card to pay for their online purchases. Many of you will agree that shopping on the Internet is really very convenient and easy to do. But after news about credit card scams and identity thefts have come out, many people have started to be more careful in giving out their credit card details online. For one, you do not want to have knee-deep debts for credit card purchases that you did not do.

The number of the virtual stores is increasing day by day. Online shopping is made easy and simple trend is towards online shopping rather than going to the market and wasting hours. Market as far as your computer. You can search desired products and compare them with others via software which is provided on websites. Credit card is the most used payment method for online transaction.

OLTP (online transaction processing) is a class of program that facilitates and manages transaction-oriented applications, typically for data entry and retrieval transactions in a number of industries, including banking, airlines, mailorder, supermarkets, and manufacturers. Probably the most widely installed OLTP product is IBM's CICS (Customer Information Control System).
Today's online transaction processing increasingly requires support for transactions that span a network and may include more than one company. For this reason, new OLTP software uses client/server processing and brokering software that allows transactions to run on different computer platforms in a network.

If you have spent any time at all online, you'll find that shopping is one of the best and most engaging activities that you can find there! More and more people are turning to shopping online whenever they are looking for that special gift, something fun for their home, even for their basic food needs, and if this describes you, there are some things that you should definitely be aware of. Even if you feel that shopping online is common and that everyone does it, it still doesn't mean that you don't need to take some basic precautions.

People shop online for a variety of reasons. Some people like the sheer amount of variety that they get when they can browse through literally thousands of stores with a click of their mouse, while other people find that the ability to shop without leaving their home is quite important

You'll also find that if you are sending a gift to someone and order it online, you can ship directly to their door. You don't have to deal with things like packaging it up yourself or getting through a crowded post office.

With all of these advantages for shopping online, it is easy to see why people do it, but it is also easy to see where such a vast population might start having problems when it comes to the possibility of fraud, or even of being aware of what shopping online entails. If you are interested in shopping online, one of the first things that you need to do is to check out the shipping. Many people are appalled by the amount of shipping costs that they end up paying, so make sure to find out exactly what your end cost is. Similarly, remember that you will want to check out the return and exchange policy. Some places will give you a good refund or replacement if there is a problem, while others will be a great deal more stubborn about it.

When shopping online, be sure that you take a look at the privacy statement. You'll find that many companies will baldly state that they can sell your information and that they can use it without authorization. While there is nothing necessarily sinister about this, you may find yourself added to dozens of email lists or calling lists, so make sure you understand what the company's policy is. You'll find that simply being aware of it is far better than being surprised later on.

Online transaction processing, or OLTP, refers to a class of systems that facilitate and manage transaction-oriented applications, typically for data entry and retrieval transaction processing. The term is somewhat ambiguous; some understand a "transaction" in the context of computer or database transactions, while others (such as the Transaction Processing Performance Council) define it in terms of business or commercial transactions.OLTP has also been used to refer to processing in which the system responds immediately to user requests. An automatic teller machine (ATM) for a bank is an example of a commercial transaction processing application.
Online Transaction Processing has two key benefits: simplicity and efficiency. Reduced paper trails and the faster, more accurate forecasts for revenues and expenses are both examples of how OLTP makes things simpler for businesses.
As with any information processing system, security and reliability are considerations. Online transaction systems are generally more susceptible to direct attack and abuse than their offline counterparts. When organizations choose to rely on OLTP, operations can be severely impacted if the transaction system or database is unavailable due to data corruption, systems failure, or network availability issues. Additionally, like many modern online information technology solutions, some systems require offline maintenance which further affects the cost-benefit analysis.

The bank or the credit card company is doing their best to makes it more authentic. It is quite possible that such information may be used by the retailer. Some steps can make you safer from shopping on internet. They are as follows:

First of all it is advised to you to check the authentication of the shopping site. Use any secure browser. Reliability of vender whom you are concerned is also an important factor. Check the details of the seller before any transactions to avoid any forgery. Shop on those sites that are verified and show security logo. Read all terms and conditions before making any payments and transactions. Make your shopping on that website which are approved by the third-party. A seal of authentication can be found on such websites.
Check Telephone number and email id are shown on the website. Make call to telephone number before revealing your card details. Check their authenticity by calling them. Use only your personal computer for the shopping purpose. Be ensuring it is updated with latest anti-virus software and firewall. Try to avoid cyber cafe computers for shopping.

Always hide your credit card"s account number and password. Genuine vendors never ask you for credit car number and password unless it is essential for transactions. After transaction cross check the actual amount to be paid. You may take a print out of order and transition. If you think that there is any inconsistency choose other way of payment. Credit card is preferred for payment on online shopping rather than other methods.

Change password after any transaction in which you provide credit card number and transaction password. You may ask vendor about your payment security and other conditions. If shipment is not proper, delivered goods is damaged, different type of goods delivered to you what will be the solution asking these questions to ensure your safety.

Keep in mind that the companies are required to ship your order within 30 days or notify you of the delay. While this is a fairly general rule, you'll find that this holds true for most transactions that you could go through online. When you are considering shopping online, be sure to make a paper trail. Take some to print out the company's contact information, the documentation on the item you ordered, your confirmation e-mail and your receipt. This will give you some papers and documentation to work with in case you have problems.

Shopping online is easy and fun, so be sure to take the basic precautions when doing so.The ability to control your spending is also one of the main advantages of a debit Visa card. We all know that credit card issuers are the ones that determine your limit. If you are given a high limit, there is a tendency for you to shop for a lot of things online even if you do not need them. As a result, many credit card holders are facing monstrous amounts of debts that they no longer can repay. With a debit card, however, you can only spend the amount of money that is available on your bank account . So, you have no way of exceeding your balance with a debit card.

Lastly, a debit Visa card can also help you improve your credit score. What you can do, in order to build up your credit history faster, is to use your debit card not only in buying things online, but also for payment of your utility and other bills. There are also options for automatic payments so you do not have to worry about missing your monthly utility payments over the Net. What's more, each online bill payment or transaction you make using your debit card is actually essential in helping you boost your credit rating too.

To minimize online transaction frauds in India, RBI has come out with more safer guidelines for online transactions. As per RBI, both credit and debit card holder have to validate their identity while performing an online transaction.

There can be multiple ways thru which identity validations can be done. One option is to send a transaction code as SMS to user’s mobile on each transaction, using which the transaction can be completed. Another option is to provide users a code generator device.

SBI, ICICI, Kotak Mahindra Bank and Citibank sends one time code as SMS to mobile for authenticating the transaction. HSBC provides a digital code generator which has to be used for any transaction online. HDFC uses a image and text to validate the user which has to be configured at time of net banking registeration.

Its difficult for a hacker to have access of everything including username, password, mobile phone or code generator.
Most of the banks do validation one time only at the time of activating third party beneficiaries. In all future transaction with activated third party accounts are not authenticated.

In case of credit card, Both MasterCard (called MasterCard SecureCode) and Visa (called Verified by Visa) uses password for authenticating online transactions. Some credit card have a feature of limiting the amount maximum of which a transaction can be done online.