Customers select the service or product they wish to purchase and go to the checkout page. Various payment methods can be offered here. Some of the main solutions available for payment issues include.
best payment gateway for small business Hosted payment page: When customers are ready to enter their transaction data, they will be directed to another page.
Server-to-Server Integration: You can request payment information on the same page using the correct payment system.
Client-side encryption: Use encryption on the client side to send to the UK merchant fleet to simplify pci policies.
The client then enters his credit card information on the service provider's payment page. The transaction data can include the card expiration date, customer name, CVV number and credit card number.
The information is sent to the payment gateway, which encrypts the card details and uses cyber fraud detection and analysis techniques. This makes the user interaction more secure.
The acquiring bank sends the information to a credit card program such as MasterCard or Visa.
Before sending the payment data to the issuer, the card scheme again checks for threats and fraud in the payment card industry.
The issuing bank screens the payments and authorizes or denies the transaction, sending an approval or denial message to the customer.
The acquiring bank then sends the denial or approval message to the payment gateway, which informs the merchant whether the payment service has been approved.
If no payment method solution can be approved by the government, the acquirer can collect the required amount from the issuing bank.
In a process known as "clearing", funds are deposited into the merchant's account and the merchant can display a confirmation of payment message.
- Jul 31,2020
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