Question- Discuss working of E-commerce.

Ans.

Working of E-commerce

In an E-commerce environment, the following process is followed:

(i) Placing on order by the customer :  Customer can place an order through secure connection on website, or merchant manunally keys in transaction.

(ii) Receiving the Transaction and submitting an authorization : Payment Gateway receives the transaction through the secure internet connection, encrypts it, and submits an authorization to the credit card issuing bank.

(iii) Sending Response by the credit card issuing bank : Credit Card issuing bank either approves or declines the request. This bank will send a response back through the payment gateway to the website.

(iv) Order Fulfilled : Once approved the merchant processes the customer's order is shipped.

(v) Sending a Settlement Request : The payment gateway will sends settlement request to the merchant account provider.

(vi) Settlement Deposited by the Merchant Account Provider : The merchant account provider deposits the amount for each settlement into the merchant's bank account.

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