Since the online payment process based on the Internet platform is similar to the traditional payment process, many application mechanisms and processes of traditional payment methods are borrowed when processing online payments. If you are familiar with the payment process of traditional payment methods, such as paper cash, paper checks, POS machines, credit cards, etc., it will help you understand the online payment process.
The basic application process can be described as the following steps.
(1) The customer connects to the Internet, browses, selects and orders goods through the browser, fills in the online order, and then selects the online payment tool to be used, and obtains authorization from the bank to use it, such as credit card, electronic check, electronic wallet, electronic cash or online bank account.
(2) The customer encrypts the relevant order information, such as payment information, and submits the order online.
(3) The merchant server checks and confirms the customer’s order information, and forwards the relevant, encrypted customer payment information to the payment gateway until it is confirmed by the bank’s back-end business server on the bank’s dedicated network, in order to verify the authorization of payment funds from the bank and other electronic currency issuers.
(4) After the bank verifies and confirms, it sends confirmation and payment information back to the merchant server through the encrypted communication channel established via the payment gateway. To ensure further transaction security, it will send a payment authorization request to the customer (optional).
(5) After the bank receives further authorization payment information from the customer, it transfers the funds from the customer’s account to the bank account of the merchant engaged in e-commerce, settles the funds through the bank’s dedicated network, and sends payment success information to the merchant and customer respectively.
(6) After the merchant server receives the payment success information sent by the bank, it sends the customer an online payment success information and a shipping notice. At this point, a typical online payment process ends. Merchants and customers can use the Internet to query their own fund balance information for further verification.