CSC1020_Samir Shrestha.pdf - Program Name: BCS(HONS) Course...

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Program Name: BCS(HONS)Course Code: CSC 1020Course Name: Introduction To E-CommerceOpen Book Assessment/Lab Sheet / Project / Case Study NoDate of Submission: 3/10/2021Submitted By:Submitted To:Student Name: Samir ShresthaFaculty Name: Khushal RegmiIUKL ID: 041802900034Department: Computer ScienceSemester: VIntake: September 2018
SECTION AThere are THREE (3) questions in this section. Answer ALL Questions in the ANSWER BOOKLET.1. Earlier almost all the business transactions were done through cash payments but now IT revolutionhas led to the development of new forms of payment as electronic payment system that is necessary forday-to-day operating work. Explain how online credit card transaction works as an electronic payment.
c) Transmitting the data:The data from the card is encrypted and transmitted for approval.d) Authorizing the transaction:After the entire data is transmitted, the credit card issuer validated the transaction based on the validityof the card, amount of the transaction and fund available.e) Responding to processor and merchant:Once the transaction is authorized, processor and merchant receives a confirmation message.f) Completing the transaction:The transaction is now completed with a receipt issued by the merchant. If the purchase includesdelivery, merchant also prepares the item to be delivery as per the information provided.g) Submitting a batch closure:The overall transaction is completed by the merchant at the end of the day with all the transactionsmade in the day. Now, the processor’s acquiring bank collects the fund from the credit card issuer.h) Depositing Fund:Then the processor’s acquiring bank makes the deposit to the merchant’s business account.Hence, this is simple explanation how credit card transaction work as an electronic payment withoutuse of hard cash..
2. We use the term B2B e-commerce to describe specifically that portion of B2B commerce that isenabled by the Internet. “Transactions between businesses conducted electronically over the Internet,extranets, intranets, or private networks”. Explain the Basic Types of B2B Transactions and Activitieswith examples.

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