eCommerce FAQ: How does Real-time Credit Card Processing work?
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Step 1:
The customer submits an order through YOURSTORE.com and the transaction is sent to the Payment Gateway Provider.
Step 2:
The Payment Gateway Provider receives the transaction information and passes it via a secure connection to the Store Owner Bank’s Processor.
Step 3:
The Store Owner Bank’s Processor submits the transaction to the Credit Card Interchange (a network of financial entities that communicate to manage the processing, clearing, and settlement of credit card transactions).
Step 4:
The Credit Card Interchange routes the transaction to the customer’s Credit Card Issuer.
Step 5:
The Credit Card Issuer approves or declines the transaction based on the customer’s available funds and passes the transaction results, and if approved, the appropriate funds, back through the Credit Card Interchange.
Step 6:
The Credit Card Interchange relays the transaction results to the Store Owner Bank’s Processor.
Step 7:
The Store Owner Bank’s Processor relays the transaction results to the Payment Gateway Provider.
Step 8:
The Payment Gateway Provider stores the transaction results and sends them to the customer and/or the Store Owner. This communication process may vary per Payment Gateway Provider.
Step 9:
The Credit Card Interchange passes the appropriate funds for the transaction to the Store Owner's Bank, which then deposits funds into the Store Owner's bank account.
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