What is online transaction processing?

12 Apr 2022 By PAYCEC

Online transaction processing is a processing organization or a financial institution that manages transactions between the customer's bank (issuing bank) and the merchant's bank (acquiring bank). The responsibility of the processor is to verify and authorize payments that are received from payment gateways. It can be completed in seconds if the processor finds the card is valid and the account in checkout has sufficient funds to complete the transaction.

Payment processor facilitates electronic communications between acquiring banks, card associations, issuing banks to verify the validation of online card payments. The processors have to meet the transmission security standard and strong transaction-processing capabilities.

Have other questions?

If you need further assistance or answer, please don't hesitate to contact us.

Have other questions?

The Media

Finextra One IBC Yahoo Finance
About us

who we are

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.

We will contact you shortly.

Email Phone
Scroll top