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Online payment usually is the transaction that results in transfer of monetary funds from the customer bank or credit card account to your bank account. The online payment can be done from a credit card, checking account or other clearing house like PayPal for example.
An online payment system is an Internet-based method of processing economic transactions. It allows a vendor to accept payments over the web or over other Internet connections, such as direct database connections between retail stores and their suppliers--a common method of maintaining just-in-time inventories.
Online transaction is a payment method in which the transfer of fund or money happens online over electronic fund transfer. Online transaction process (OLTP) is secure and password protected. Three steps involved in the online transaction are Registration, Placing an order, and, Payment.
If you're not an expert, get one. ... Set up a hosting platform. ... Register your site. ... Build the payment form. ... Find a processing solution with an applicable API. ... Integrate the processing platform with your payment form. ... Test and Launch. ... Make support easy to find.
Accept Credit Cards and Debit Cards Online. ... Accept checks through ACH Processing. ... Mobile Payments Continue to Grow. ... Provide an Online Payment Gateway. ... Click-to-Pay Email Invoicing. ... Schedule Recurring Billing. ... MV/Chip Card Solutions. ... What works best for you?
Merchants send batches of authorized transactions to their payment processor. The payment processor passes transaction details to the card associations that communicate the appropriate debits with the issuing banks in their network. The issuing bank charges the cardholder's account for the amount of the transactions.
A cardholder begins a credit card transaction by presenting his or her card to a merchant as payment for goods or services. The merchant uses their credit card machine, software or gateway to transmit the cardholder's information and the details of the transaction to their acquiring bank, or the bank's processor.
Payment processing is a general term that refers to how transactions are automated between the customer and the merchant.
Visa Payment Transaction Flow The cardholder presents the merchant with a card for payment. ... The issuer sends back to Visa an authorization response, either approving or rejecting the transaction. Visa sends the authorization response on to the acquirer. The acquirer routes the authorization response to the merchant.
How long does it take for a credit card transaction to process if I pay online? Credit card transactions typically take 48 hours to settle. An authorization is issued immediately; however, it takes 48 hours for the money to be moved.
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