ECommerce Transaction Processing Basics

Image : http://www.flickr.com
Ecommerce transaction processing stages.
Authorization. Authorization is the process by which the card issuer approves or rejects a payment by credit card.
Authentication. Authentication is the process of establishing the validity of the credit or debit card account information from the customer available. Authentication is through the use of various tools to combat fraud, including Address Verification Service (AVS) and Card Security Verification Codes fact.
Transaction. If the service were made available, or the goods were delivered to the Merchant Bank deposit operation with its acuiring and the amount will be transferred to your merchant account.
Ecommerce transaction participants. Every transaction processing and e-commerce is the result of interactions between multiple participants.
Card issuer. Card issuers, banks are part of the Visa and MasterCard card issuing cards on behalf ofThe two credit card companies and cardholders agreement with repayment terms of the transaction.
Acquiring Bank. Acquiring banks (also called the acquirer or merchant banks) are financial institutions, Visa and Mastercard, the contract with merchants for members so that they accept and debit card payment services credit for their products. They can also, and that's the case, the contract most of the time, with third parties that provide credit and ATMThe payment processing services.
Merchant Processor. Merchant Processor is an organization, the Bank has commissioned the acquisition of a buyer to provide traders with services of processing payment card in the name of the file. traders and processors must be registered with Visa and MasterCard.
Credit card Networks. Networks of Visa and Mastercard are owned by member banks, associations and regulates the issuance of Visa and MasterCard, and the acquisition of visasMaster Card transaction.
Cardholders. Owners an authorized user of a credit or debit card.
Merchant ecommerce. Merchant Ecommerce is a trader, the merchant processor with an acquiring bank or a web site to accept a contract on the show.
ECommerce Payment Gateway. Ecommerce payment gateway (also known as payment gateway or gateway) is a web-based service that allows e-commerce merchantsSend card information of cardholders at the time of the intended transaction to acquire its banks.
Services Provider. Service provider can organize the third: electronic commerce, offering a basic service used in the transaction process web-hosting, SSL certificates, shopping cart, payment gateway etc. are also part provided by a third party.

