Online Transaction Process
 The following information describes the
step-by-step process of a credit card transaction taking place on the
Internet:
Step 1
When a consumer decides to buy a
product or service online, using common browsers such as Internet
Explorer or Netscape Navigator, the secure order form of the merchant
prompts the consumer to enter their name, address, ship-to, credit card
information and any other pertinent information required to process the
sale.
Step 2
Upon completion of the order form by the
consumer, the "Submit" or "Pay Now" button is clicked
to begin the payment process.
Step 3
The button is
linked to the LinkPoint Secure Payment
Gateway which routes and obtains the credit card authorization or
declination code. The credit card is checked against the address
verification system (AVS) to authenticate the cardholder.
An
authorization reduces the available credit limit, but does not actually
place a charge on the statement of the cardholder or move money to the
merchant.
In line with bankcard association rules, the merchant is
not allowed to settle transactions until the ordered goods can be
shipped, therefore a time lag may exist between the authorization and the
settlement process.
Transaction Descriptions
| Sale: |
Acceptance of the credit
card for purchase of a product or service. |
| Return (Credit): |
Is issued when the
consumer wishes to return a product or service after the transaction
has been settled. |
| Void: |
Is issued when the
consumer cancels the order the same day, and prior to, the settling
of the transactions. |
| Settlement: |
The final step to
complete the credit card transaction between the consumer and the
merchant. The batch (an accumulation of transactions from the
current day) is settled daily as a group. Settlement means that the
credit card is charged and the money is moved to the merchant
account. |
Funds
are electronically deposited into the checking account of the merchant
within 48 hours of settlement.
Signup now by clicking below or
call toll-free 1.877.826.5448 to speak with an online order specialist.
We are here 24x7 to assist you.
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