Payment process Manager

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This module is a loosely coupled system which has the o the systemcapability to manage gateways and defined system and also play the part in respect to the responses from the processor and make necessary update to the database

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Payment process Manager

  1. 1. Payment Process Manager The Next Generation Payment process handler By Rezaul Karim Majumder
  2. 2. Product Breakdown Structure
  3. 3. Steps for Payment process by Authorize.net
  4. 4. Contributor Eqosoft Eqoria Orgmatics Payment Process Manager The customer submits his credit card for payment. Issuing bank Service Acknowledgement Acquiring Bank Processing Carrier Authorize.Net manages the complex routing of the data on behalf of the merchant through the following steps/entities. Authorize.Net passes the secure transaction information via a secure connection to the Processor. The Merchant Bank's Processor submits the transaction to the credit card network (like Visa or MasterCard). The credit card network routes the transaction to the bank that issued the credit card to the customer. Aithorize.net The Processor Authorize.Net stores the transaction results and sends them to the website for the customer and merchant to see. Interchange Settlement The issuing bank sends the appropriate funds for the transaction to the credit card network, which passes the Funds to the merchant's bank. The bank then deposits the funds into the merchant's bank account. This is called 'Settlement', and typically the transaction funds are deposited into the merchant's primary bank account within two to four business days.
  5. 5. The Business Requirements  Preparation  Capture Payment Request  Manage Payment process  Manage Authorization  Manage capture  Manage settlement  Manage Accounting

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