E-Commerce · Unit 6
Electronic Payment Systems
Exam-focused notes for Electronic Payment Systems (E-Commerce, BIT403): what the TU syllabus asks and how it has actually been tested, with 4 solved past questions from this unit.
What this unit covers
- Types of electronic payment systems
- Online credit card transaction process
- E-payment system status in Nepal
- Cryptocurrency and blockchain technology
- Digital certificate provisions in Nepal
Types of electronic payment systems
Explain the different types of electronic payment system. [5]
Electronic payment systems are digital methods of transferring money between parties. The main types are: - Customer uses a credit card (issued by a bank) to make purchases - Payment is processed through card networks (Visa, Mastercard, etc.) - Customer rec...
Full solved answer →Online credit card transaction process
Explain how online credit card transaction system works. [5]
An online credit card transaction system is a secure process that enables customers to make purchases over the internet using their credit card details. The system involves multiple parties working together to authorize, process, and settle the transaction....
Full solved answer →Explain the process of E-payment using online credit card transactions. [5]
E-payment via online credit card transactions involves the following steps: - Customer selects items/services and proceeds to checkout on the merchant's website - Customer enters payment details: credit card number, expiry date, CVV, and billing address - T...
Full solved answer →Cryptocurrency and blockchain technology
What is cryptocurrency? How blockchain is used in cryptocurrency? [5]
Cryptocurrency is a digital or virtual form of currency that uses cryptographic techniques to: - Secure financial transactions - Control the creation of new units - Verify the transfer of assets Key characteristics: - Decentralized: Operates without central...
Full solved answer →Make Unit 6 stick
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