The term "on-line payment
processing" refers to the steps that occur when a customer buys a product over the
internet with their credit card.
- The customer places an order through your on-line store by entering their name,
credit card number and expiration date.
- Your on-line store receives the order, then instantly sends an authorization
request to the customer's bank to ensure the card is valid and can cover the cost. Your
merchant account identification is also included in this request so that the bank will
know where to send the funds if approved.
- If the bank approves the request, they will send back an authorization number.
This number is captured by your on-line store and saved with the original order. If the
card is declined, a message to that effect is sent instead.
- Finally, knowing the transaction has been approved, you can honor the customers
order and fill it. The bank deposits the funds into your merchant account (minus any bank
processing fees) and the customer's account is debited for the amount of the purchase.
Our featured shopping-cart (AbleCommerce) fully
supports several on-line payment processing applications, including CyberCash, ICVerify
Web Panache is also a CyberCash Merchant Development Partner able to
assist you with your set-up and/or storefront conversion.