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Credit card payment processing is the phenomenon,Guest Posting which tells us about the working of credit card online.
In this, some steps are given regarding the online payment through credit card. The card payment processing online payment through credit card constitutes two processes authorization and settlement. Authorization means, getting an approval and settlement i.e. getting the money by the merchant from the sponsored bank and carrying away the sales.
The card payment processing states that when a buyer tends to buy something from a merchant’s site he places the order by clicking on send order button while he was checking out for good stuff. The stuff is being looked out by clicking on the checkout option given at that site. Then the request is accepted by yahoo and further it sends the authorization request to the FDMS (first data merchant services) and the payment processor commission. Now further the role of FDMS is to send the authorization request to the issued bank of which the credit card belongs to.
Points of an authorized card are:
Before card payment processing following points regarding credit card must be known:
The credit card number of the card holder which will signify his identity.
The expiration date of the credit card which signifies the time period or availability of the card.
The billing address where the bill is sent regarding the amount which has been spent using the credit card.
The next point to be noted is CVV number. It is written on the card only.
Now the turn comes the amount of which the order has been placed.
Checking of the credit card
Check the card number and expiry date so as to assure the proceedings. By this the validity of card will be assured. The next thing to note the amount of money spent is as per the available credit amount on the card. As such if the amount exceeds then the process cannot be successfully done.
The issued bank service man now cross check the address written on it with the one written in the given file such as if the address doesn’t match with the file address then it proves the card holder to be fake or remarks it as the fake identity. Now check the validity of CVV number only if it is given in the issued credit card.
If all of the above points are valid and are approved by the issued bank then only the amount will be deducted from the issued amount. Further the issued bank will pass the response of the authorization letter to the FDMS. Thus the response of the authorization letter consists of an approval of the address information which is verified by the issued bank along with the CVV (card verification value) number verification. This will be tested by the experts. The response of authorization that has been passed to FDMS will be again passed by it to the yahoo. The first steps get reversed and ends up the positive response of authorization of the credit money.
