Here at Keystone Click we love making e-commerce sites because we know we love using e-commerce sites! But how exactly do those online transactions work? Well, we've got answers...in layman's terms (Even our marketing intern can understand them!)
The buyer uses a shopping cart on the merchant's online store and places an order. A shopping cart is just a type of software that allows buyers to choose and purchase products.
The shopping cart takes the order (of totally awesome stuff about to be purchased of course) and puts it through a payment gateway. This is a secure way to transfer encrypted data.
The credit card company approves the card and account and sends the approval back to the payment gateway which informs the shopping cart that the transaction was a success.
The payment gateway initiates the funds transfer from credit card company to the seller's merchant account. A merchant account is simply an account that can accept electronic payments. Another way of accepting payment is using PayPal, for more info on PayPal, see our previous blog post. So, who's ready to sell?
More information on Selling Online