This cycle occurs when some client places an order in your store.
- The customer initiates the transaction by pressing the “Buy Now” or a similar button on the website.
- Now the store will redirect the customer to a payment gateway page where the customer has to enter the details of the card for the transaction.
- The payment gateway then redirects the customer to a secure page for the authorization of the transaction.
- Once the payment gateway approves the transaction, the bank makes the checks on the customer’s account to decide whether the transaction is successful or not.
- The payment gateway sends the text message (successful transaction or error in the transaction) to the customer.
- If the transaction is successful then the bank settles the payment with the payment gateway. Then payment gateway settles the payment with the merchant, notifying that the transaction is successful.
