Glossary

Online Card Transaction

It is a kind of transaction protected by the PIN which allows a transfer of money via the EFT. If the client wants to pay for some goods/services, commonly he/she has two options to handle a payment among them offline and online transactions. Unlike offline card transactions, OC transaction can be approved only after entering the identification cipher. In the case, if the PIN is entered in the wrong way the transaction will be rejected.

Frequently, the fee for such transaction is not high and reaches 1 % from the whole cost of the purchase that is charged from the trader. The procedure is safe because it is secured with the help of the code. The mechanism includes registration, order, and payment.

The OT requires a Wi-Fi connection in order to conduct a payment. If the Internet signal is weak, there is a high chance that an error will occur at the time of the payment procedure.

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