Business in Sanskrit Literature is termed as (वाणिज्यम्) Vanijyam and it can be defined as गृह्णाति प्रतिगृह्णाति which means get and give. This can be of a product or a service. Everything is done for a certain amount which is termed as cost of the product or service. Here nothing is free.
All the dealings in a business is done in terms of a value called money. (In India INR/Rupees). These days business sectors are expanding and moving quickly with the help of e-commerce where in the seller and buyer need not meet in person, bargain and no need to stand in long queues and not to fight over the change/ the balance amount, reminding the words "TENDER EXACT CHANGE" is not at all necessary.
No cheques and demand drafts are needed instead the payments are completed with NEFT, IMPS, UPI, ,Cards and special feature of MSME BANKING runs in almost all banks.
These payments facilities easy buying and selling process. Just choose the product and payment within minutes only exact amount. No extra fee is charged by the Banks or the seller. At times many offers and cash backs are provided for utilising these mode of payments.
In transactions with E-commerce sites the secured feature of the bank accounts really matters a lot in up lifting customers satisfaction there by they feel secured to use the same.
Money matters a lot for the customers and in a way to save his/ her money he/she choses online sites for lesser cost and discount options. There he/she doesn't like to lose money during transactions or involve in risk dominating process. If such things happen and long process is involved in the online payment then, the customer quietly go for physical shopping.
The secured process of payments through OTP to their registered mobiles and a message to check about all the debit transactions assures the customer to be tension free about their payments. The day, one gets the Net banking service from their banks, the hassle free cash dealings enters their life. Carrying high amount of cash and getting lost in the travel are the stories of bygone days.
Every transaction goes digital and is secured which makes the customer reap its benefits and enjoy his/her shopping fully.
With this type of options for payments in the on line shopping makes customer choose the best way of payment and not to worry about the loss of money. This is one of the various reasons of success of on line shopping.
With many easy options of payments that can be done with a click in the mobile phones too have a double check before making payments. All the payment getaways are keen in safe and secured process of handling the customers money.
By these a lot of cash transaction has been minimised and many prefer to go for this cashless transactions. The advancement in technology has brought a profound impact in cash handling. Online businesses flourished with the help of banking sectors co operation and the trust of the customers on their banks.
RBI too revises rules and regulations at timely intervals and cautions the customers to be alert and not to share their OTP and PIN numbers , passwords with others. This brings in an secured environment of more improvised e commerce transactions.
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