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What is the process of online transactions?

Online transaction refers to the process of buying, selling, and verifying that takes place through these following steps:

  • Step 1: A customer presses a “Purchase” button or relevant button, and fills in the necessary fields to pass the transaction data.
  • Step 2: The data is encrypted and sent to the PayCEC global payment gateway, then passed securely to a global payment processor, which is connected both with a merchant account and a global payment gateway, transferring data back and forth.
  • Step 3: The global payment processor passes the transaction to a card network, such as Visa, Mastercard, or American Express.
  • Step 4: The role of a card network is to verify the transaction data, and pass it to the issuer bank, which is the bank that produced the cardholder’s credit or debit card.
  • Step 5: The issuer bank accepts or denies the authorization request. In response, a bank sends a message back to the global payment processor, which contains the transaction status or error details.
  • Step 6: Transaction status is returned to the global payment gateway, then passed to the website.
  • Step 7: A customer receives a message with the transaction status (accepted or denied) via a global online payment platform.
  • Step 8: The funds are transferred to the merchant account. The transaction is performed by the issuing bank to the acquiring bank.

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about us

We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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