Your online shop is up and running and you want to start selling your products and services. This shop incorporates a shopping cart for customers to select the products they wish to buy. Next to each item, there is an "add to cart" button.
This button allows your visitor to select one or more products which are then added to their list of purchases. At this point, he/she just needs to pay.
What are the steps in a transaction?
1- Order confirmation by the purchaser. The order is confirmed twice:
a- The purchaser confirms their purchase on your website shopping cart: all the order information is recorded (product reference, price, quantity, total) as well as your customer’s contact information for delivery of the goods.
b- The customer is then transferred to the secure Cashtronics (https) interface and that same customer inputs his or her bank card information. Cashtronics then receives the order amount and the encrypted credit or debit card details used for payment.
2- Transaction authorization by Cashtronics:
Cashtronics uses a specific parameter list (containing for example, the country where the purchaser connects from, the delivery address and many more proprietary features), to assess the level of fraud risk presented by the transaction. If the transaction is considered as presenting no particular risk (no fraud), it is authorized and a second authorization is requested from the bank that issued your customer’s card.
3- Authorization request to the bank:
If the transaction is authorized by Cashtronics, an authorization request is sent to the cardholder’s bank.
4- Bank card network enquiries
The bank also verifies the card networks (Visa, MasterCard, American Express, JCB, Discovery). They carry out a second series of verifications. If no anomaly is found, the bank receives the authorization back from the bank card network.
5- Cashtronics receives the bank authorization
Cashtronics receives the transaction authorization via a secure protocol.
And of course, your merchant account is credited of the sales amount
My 1st online payment system, how does it work?
