Payment gateways support online payment transactions by protecting sensitive information such as bank and card details provided by cardholders. Here’s how it works:
- After the cardholder places an order on the merchant’s website, the merchant will forward the transaction details to the Oceanpayment Payment gateway.
- Oceanpayment payment gateway forwards the transaction information to the payment processor used by the merchant’s receiving bank.
- The payment processor forwards the transaction information to the card organization (i.e. Visa/MasterCard/American Express, etc.).
- The credit card issuing bank receives the authorization request, verifies the credit or debit available, and then sends a response back to the processor (via the same process as the request for authorization) with a response code (I.e.:: approved, denied). In addition to communicating the fate of the authorization request, the response code is also used to define the reason why the transaction failed (I.e.: insufficient funds, or bank link not available).
- The processor forwards the authorization response to the Oceanpayment Payment gateway.
- Oceanpayment Payment gateway receives the response and forwards it to the website or any interface used to process the payment, which is then forwarded back to the merchant and cardholder. This is called authorization or “Auth”.
The whole process usually takes 2-3 seconds.
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