Credit cards are mostly used for online payment.

Ans. This statement is true,


(1) In e-business payments have to be made online. There is no physical exchange of cash across a counter. In credit card we can purchase the goods first and then we can pay the due to bank in a future time.

2. Because of many EMI [Equated monthly installments] facilities available from the most of the credit card issuing banks. Most of the Payments are made through credit cards. The person who places an order for the goods to be bought and clicks on a button called 'SUBMIT' once the merchandise is chosen.

4. The site then asks for the customer's credit card details. Once the details are entered, the browser codes the information.

5. The card issuing bank authorizes the payment. Then it sends its request back through the same process to the merchant website. Once the authorization is received, the sale is approved. The entire process does not take more than 2-3 minutes depending on the speed of the internet connection.