Question

Select all the correct answers.
Hans is works for a software company that is developing a banking service that employs online transaction processing. What are two advantages
of using this technology?
•It is simple to implement due to redundancy.
•It allows customers to access the service from any location.
•It experiences minimal losses during downtime.
•It provides a secure environment for transactions.
•It processes a transaction even if part of the transaction fails.

Answer 1

Banking services are monetary transaction that includes the deposit and withdrawal of money. The online transaction process allows one to access services in any place and secure transaction environment.

What is an online transaction?

Online transactions are the transfer of money on the cloud platform using internet services. The financial transactions are done on the web banking platform that includes money transfers, bill payments, shopping, etc.

Online transactions do not require physical presence and can be done at any place irrespective of the location the money gets transferred to the person. Also, it provides a secure environment to transact any amount.

Therefore, a secure environment and access to services at any place are the two advantages of online transactions.

Learn more about online transactions here:

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