How do online payment gateways work exactly?
What is a Payment Gateway?
A payment gateway is an online application (typically used in e-Commerce) that conducts payment authorizations for merchants, electronically based businesses (e-businesses), merchants with both brick and mortar locations and online locations and merchants with traditional brick and mortar stores. As long as there is an internet connection, a payment gateway securely connects to an e-Commerce application or in-house payment application such as a credit card processing network or an online banking institution.
Payment gateways are the “middle man,” handling business between merchants and customers. Serving in a role that securely withdraws the funds for a transaction from customers and deposits them into merchant's bank account. A payment gateway is a digital version of the physical point of sale (POS) terminals located in almost all of today’s retail outlets.
How Does it Work?
The payment gateway fills the critical role of transaction processing and authorization in e-commerce dealings between consumers and merchants. Once a credit card’s information has been entered into the payment section of an e-Commerce website, the payment gateway encrypts the sensitive details of the card, including the card’s number, expiration date, and security verification code located on the back of the card. Encryption is necessary to protect both the consumer and the merchant from fraudulent activity as the information is passed between the two during their transaction.
At their most rudimentary level, here are the basic steps detailing how a payment gateway works:
1. A customer places an order for a product or service on a website they visited by pressing the “Submit Order” or “Checkout” button.
2. The merchant transfers the consumer’s order information to the payment gateway in a secure manner. The payment gateway routes the transaction information to the merchant’s issuing bank for transaction authentication.
3. Once the authentication process has been completed (the transfer of information related to the transaction), the operation is either authorized or declined by the issuing bank (based on funds available in the consumer’s account, etc.).
4. Following the determination of the transaction as authorized or declined, the payment gateway will return a message to the merchant as to the status of the transaction.
5. The issuing bank settles the funds with the payment gateway, and the payment gateway subsequently settles the funds with the merchant.
Summary:
Payment gateways serve as the “middle man,” handling business between merchants and customers. Serving in a role that securely withdraws the funds for a transaction from customers and deposits them into merchant's bank account. A payment gateway is a digital version of the physical point of sale (POS) terminals located in almost all of today’s retail outlets.
Once a credit card’s information has been entered into the payment section of an e-Commerce website, the payment gateway encrypts the sensitive details of the card to protect both the consumer and the merchant from fraudulent activity as the information is passed between the two during their transaction before. The payment gateway then routes that information to the merchant’s issuing bank for authorization, and then subsequently notifies the merchant of the transaction’s status (authorized or declined). Lastly, the payment gateway settles funds with the merchant after the issuing bank settles the funds with the gateway.
A payment gateway is an online application (typically used in e-Commerce) that conducts payment authorizations for merchants, electronically based businesses (e-businesses), merchants with both brick and mortar locations and online locations and merchants with traditional brick and mortar stores. As long as there is an internet connection, a payment gateway securely connects to an e-Commerce application or in-house payment application such as a credit card processing network or an online banking institution.
Payment gateways are the “middle man,” handling business between merchants and customers. Serving in a role that securely withdraws the funds for a transaction from customers and deposits them into merchant's bank account. A payment gateway is a digital version of the physical point of sale (POS) terminals located in almost all of today’s retail outlets.
How Does it Work?
The payment gateway fills the critical role of transaction processing and authorization in e-commerce dealings between consumers and merchants. Once a credit card’s information has been entered into the payment section of an e-Commerce website, the payment gateway encrypts the sensitive details of the card, including the card’s number, expiration date, and security verification code located on the back of the card. Encryption is necessary to protect both the consumer and the merchant from fraudulent activity as the information is passed between the two during their transaction.
At their most rudimentary level, here are the basic steps detailing how a payment gateway works:
1. A customer places an order for a product or service on a website they visited by pressing the “Submit Order” or “Checkout” button.
2. The merchant transfers the consumer’s order information to the payment gateway in a secure manner. The payment gateway routes the transaction information to the merchant’s issuing bank for transaction authentication.
3. Once the authentication process has been completed (the transfer of information related to the transaction), the operation is either authorized or declined by the issuing bank (based on funds available in the consumer’s account, etc.).
4. Following the determination of the transaction as authorized or declined, the payment gateway will return a message to the merchant as to the status of the transaction.
5. The issuing bank settles the funds with the payment gateway, and the payment gateway subsequently settles the funds with the merchant.
Summary:
Payment gateways serve as the “middle man,” handling business between merchants and customers. Serving in a role that securely withdraws the funds for a transaction from customers and deposits them into merchant's bank account. A payment gateway is a digital version of the physical point of sale (POS) terminals located in almost all of today’s retail outlets.
Once a credit card’s information has been entered into the payment section of an e-Commerce website, the payment gateway encrypts the sensitive details of the card to protect both the consumer and the merchant from fraudulent activity as the information is passed between the two during their transaction before. The payment gateway then routes that information to the merchant’s issuing bank for authorization, and then subsequently notifies the merchant of the transaction’s status (authorized or declined). Lastly, the payment gateway settles funds with the merchant after the issuing bank settles the funds with the gateway.
La cassa in acciaio inossidabile ha un diametro di 42 mm e uno spessore di 15,3 mm. Si indossa sul lato più grande e ha uno stile classico, con una lunghezza di 50 mm da un orecchio all'altro.
Lo spessore dell'Exact Replica Orologi dovrebbe essere un movimento cronografo con un design a cupola rialzata. In altre parole, se le persone non vedono l'ora di avere un design classico, il peso potrebbe richiedere un po' di riscaldamento.
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