Online Transactions

Online transaction is transaction through the Internet. Examples include buying an airline ticket, paying your monthly household bills, buying and selling online, etc.

For buying and selling (goods and services) online, there are two types of transactions –
(1) buying/selling through a service provider (e.g. eBay, Yahoo, etc) and (2) buying/selling through the Internet, with the seller (a Company) having its own dedicated web site.

In buying or selling, it can be through a fixed price or through an auction bidding (with a closing date). If you are the seller, you need to provide details of your offer. This may includes starting price (if by auction) or fixed price and state all other fees applicable (e.g. posting and packing fees, etc). As a buyer, you need to satisfy yourself all costs applicable and to ensure that you will get your good/service after the money is handed over to the seller.

If you are new to this way of online buying or selling, I would suggest you start with the simplest way (sell/buy locally) – and that is for the buyer to meet up with the seller. The buyer examine the goods and if satisfied, pay directly cash to the seller. This we termed it “Cash on Delivery” (C.O.D.). 

If you are doing some other forms of online transactions which requires you to enter sensitive information (like your visa card details) – please consider the following:

a) The computer you are using to perform the transactions – is it free of viruses and spywares, phishing, etc.?
b) Are you sure you are transacting with the genuine or right Company – have you typed the correct URL (web address) of the Company.
c) Have you accidentally gone to an imitation or fake site? (a web site that pretend to be the real one and with the aim of “stealing” your sensitive information – we called this phishing).
d) In Internet transactions, be careful also of fake emails that pretends to be from someone you know or someone you can trust and asking for your confidential information. Never trust any email that give you or inform you something that is too good to be true. Are you that lucky to have won something and have to be told just by an email?
e) Are you transacting on a secured web site provided by the Company? All reputable Company will provide a secured web site for you to transact with.