Online Payment: a transaction of goods and money in any form through the online media.
The Authorize.Net Payment Gateway is a secure Internet bridge between merchant businesses and the credit card and electronic check payment processing networks.
Step 1: The merchant submits a credit card transaction to the Authorize.Net Payment Gateway on behalf of a customer via secure connection from a Web site, at retail, from a MOTO center or a wireless device
Step 2: Authorize.Net receives the secure transaction information and passes it via a secure connection to the Merchant Bank’s Processor.
Step 3: The Merchant Bank’s Processor submits the transaction to the Credit Card Interchange (a network of financial entities that communicate to manage the processing, clearing, and settlement of credit card transactions).
Step 4: The Credit Card Interchange routes the transaction to the customer’s Credit Card Issuer
Step 5: The Credit Card Issuer approves or declines the transaction based on the customer’s available funds and passes the transaction results, and if approved, the appropriate funds, back through the Credit Card Interchange.
Step 6: The Credit Card Interchange relays the transaction results to the Merchant Bank’s Processor.
Step 7: The Merchant Bank’s Processor relays the transaction results to Authorize.Net.
Step 8: Authorize.Net stores the transaction results and sends them to the customer and/or the merchant. This communication process averages three seconds or less!
Step 9: The Credit Card Interchange passes the appropriate funds for the transaction to the Merchant’s Bank, which then deposits funds into the merchant’s bank account. The funds are typically deposited into your primary bank account within two to four business days.
Ways to Accept Payments:
- Web Site
An Authorize.Net Payment Gateway account enables you to accept credit card and electronic check payments from your e-commerce Web site.
- Retail Store
An Authorize.Net Payment Gateway account enables you to authorize, settle, and manage credit card transactions from your retail store (iPod, iPhone) using the speed and security of the Internet.
- Mail Order/Telephone Order
An Authorize.Net Payment Gateway account enables you to accept credit card and electronic check payments from your MOTO center.
- Mobile Device
An Authorize.Net Payment Gateway account enables you to accept credit card payments securely and safely from your mobile device.
3 comments:
Hi apu. i am also from dhaka. can you tell me about paypal & alertpay?
PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet.
B2C E-commerce market in China to grow at a CAGR of 56.4 percent over the period 2011–2015. One of the key factors contributing to this market growth is the growing number of internet users. The B2C E-commerce market in China has also been witnessing the emergence of social media in the market. However, increasing price wars among e-commerce companies could pose a challenge to the growth of this market.
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