As an electric entrepreneur, in addition to the operation process of entering and leaving the shipment, will you pay for online payment?

In a traditional retail store, the paying gateway is a cash register; in a smart store, the paying gateway is an automatic payer that passes before you leave the store. In an e-commerce store, the payout gateway is an entity that allows you to charge your credit card, debit card, or bank account when the customer pays online. Paying the gateway is an intermediary between the sale and purchase of the website and the processor. For security reasons, sellers cannot send payment information directly to the pay processor from the e-commerce seller's website.

The payment processor is a financial institution that provides processing services along with the payment gateway and seller account (ie, the service provider). You don't know the names of many service providers because they are associated with paying gateways and sometimes operate in the background. The pay processor connects to the seller account and pays for the gateway, and uses encryption to quickly pass information between the two.

The seller account is a bank account that has been specifically authorized to withstand credit card and debit card payments from e-commerce seller customers. These accounts are generally referred to as MID (Merchant Identification Number), and most of them are paid for by the processing and payment of the gateway company. Large banks can also supply such accounts to sellers. Independent sales arrangements (ISO) and member service providers (MSP) can also supply MIDs to sellers.

The three components of the payment each perform their duties, providing customers and sellers with a perfect experience. First, the customer sees the product on the seller's website and enters the payment information; then, his information is sent to the processor via the payment gateway via a secure skill; finally, the processor sends the details to the seller using the additional seller ID number. account.

After these three parts work together, the customer's purchase and sale will be agreed or rejected. The pay processor sends the results back to the paying gateway, which stores the data so that the seller's website can successfully complete the sale.

Many e-commerce platforms provide new e-commerce sellers with low-cost, high-efficiency services. But if there is a problem with the payment, you will know that it is advantageous to know more about the internal workings of online electronic payments.