Answer:
Ans. Operationally, following steps are involved in online trading: (i) Registration: First step in online trading is registration with the online trader by filling up a registration form. With registration buyer has opened an account with online trader. A password is created for the account which protects account and shopping card which can be misused otherwise. (ii) Placing an order: An account holder can drop the items in the shopping card. Shopping cart is an online record of what a person has picked up while browsing the online store. Once being sure of what a person wants to buy, one can check out and choose his payment options. (iii) Payment Mechanism: In online trading payment may be made in any of the following ways: