#27unit 2e commerce payment system
Online credit card transaction
Card-based payment processing over networks.
A typical online card purchase
A shopper adds a book to a cart, checks out, and the merchant uses SSL/TLS to secure the card details, then contacts a clearinghouse (via a payment gateway like Authorize.net) which verifies with the issuing bank. The merchant is credited and the shopper is billed monthly.
Payment gateways like Authorize.net and CyberSource provide both the merchant account and processing software.