It takes place when you buy at the grocery stores, at the boutique, hotels, and so on. There are also transactions that take place between companies or agencies. This type of transaction might take a longer period unlike transaction with individuals. This is because signatories must sign before a transaction is commenced.
There are genuine transactions as well as fraudulent transactions. Unfortunately, a lot of individuals and companies have fallen victim of fraudulent transactions. Some victims have lost all they have while some lost nearly everything.
For this reason, it is advised that individuals or companies should conduct verification of companies they wish to have transactions with before the transaction starts. This is necessary in order to avoid being a victim of fraudsters.
Kelly Smith
