Page 139 - Viva ICSE Computer Studies 6 : E-book

Step 12

12. Review your order and click on
the Place your order button. Your
order will be successfully placed.

Modes of Online Payment

Online payment is a payment that is made electronically. Online payment is used in activities
like e-shopping, e-banking and e-ticketing. There are multiple modes to do online payment.
Let’s learn about them.
Net Banking

Net banking is also known as online banking. Here the fi nancial
transactions are performed on the bank’s website instead of
physically visiting the bank. The bank provides customer id
and a password. We need to register with the bank’s website
by entering the given details. Once we register we set our
user id, password and transaction password to perform the
transactions.
Debit Card

Debit card can be used in place of cash during purchase. It is
also used to withdraw money from the ATM. Every transaction
made with a debit card will appear on the account holder’s
monthly statement, making it easy to keep track of purchases.
While doing transactions with a debit card, the card holder
needs to provide the personal identifi cation number (PIN) and
the amount to be deducted from the account.
Credit Card

Credit card is a plastic card issued by a fi nancial institution.
It allows the user to borrow money from the bank to make
the purchases. During the payment process, the bank pays
the amount from its behalf and gives a time period of 25–30
days to the users to pay the credit card bill. If the user doesn’t
pay the amount in the specifi ed time period then interest is
added to the bill amount and the user needs to pay both the
bill and the interest amount. The credit limit is predetermined by the card issuer based on the
cardholder’s credit rating and credit history.

127