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Payment Gateway FAQ |
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Payment Gateway Billing System.
Below is a Step wise procedure of how the Billing System at Transecute
works.
Step wise:- (It includes a fictious example of a customer buying an
item worth $100 from the merchant's site ....)
1) A customer visits the merchants site and does some shopping
2) The customer makes a payment of $100.
Note: Today's current rate $1 = Rs. 48
3) After calculations by the merchant Rs 4800 are aadded to the
Transecute's interface in Indian Rupees only.
4) Once the customer makes the transaction , he gets a transaction
succesful page.
5)Now when this Rs. 4800 is inputted in the Merchant's account the
Merchant has to within 8 days "CAPTURE" this transaction from the
interface in order to input this amount in his transecute account,
else the transaction is void.
6) On the day of capture, the transaction amount will at Midnight,
through Transecute go to ICICI interface and ICICI will in turn pass
that amount as well as Credit Card details to Visa/Master Card.
7) Visa/Master Card company will then debit the client's card with $100
+ 2% which is their conversion charges or service charges or tax , what
ever you call it.
8) The successful transaction after approval will then again return back
to ICICI and then inturn to Transecute where Merchants account will be
credited by Rs. 4800 minus the 5% charges of Transecute.
9) The amount credited to merchant will remain in his transecute account
till he withdraw it.
10)On withdrawal request by merchant (obviously from merchant interface) ,
Transecute sends cheque of that much amount in favor of that company and
also charges the merchant a Rs. 10/- charge for courier.
Issuing Bank of Credit Card Company
1) If Indian Bank -- issues International Credit Card and
a) If client makes payment to a company that uses any of Indian Payment
gateway systems in Rs. > then the same amount will be debited on the
client's Credit Card statement > as no conversion is to be made.
b) If client makes payment to other payment gateway that uses $ as
currency system or any other currency except INR in them then > 2% charges
of VISA/Master card are applicable. |
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