How's an Account Work?
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Merchant Account
The following
information describes the step-by-step process of
how a credit card transaction takes 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, a 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 on the order
confirmation checkout page is clicked to begin the payment
process.
Step 3.
The button is linked to the AuthorizeNet Secure 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.
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