Download - Online Payments 101 for Product Managers
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Online Payments 101 General Terms & Overview
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BIZZABO
Eco-system - client side
✦ Credit Cards ✦ Card Holder - your client
✦ Card Associations - Visa/Mastercard Amex
✦ Issuing Bank - Bank that provide the credit card.
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BIZZABO
Eco-system - business side
✦ Acquiring Bank ✦ Processing credit card for the merchant.
✦ Taking on financial risk in "acquiring" a merchant's
payment card transactions
✦ Payment Processor (PSP) ✦ Provides authorization, data transmission, data
security, settlement, and connectivity to payment
networks as service to the Acquiring Bank
✦ Might be the same entity as the Acquiring Bank.
✦ Merchant Account ✦ Bank account that allow business to accept cc
payments
✦ Agreement between you and acquiring bank
✦ Gateway ✦ End-point service, accept the cc details from the
customer.
✦ Transfer the cc details to the PSP
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BIZZABO
Payment Flow 1 - Send card details to the bank
Your Website
Gateway
Card Association
PSP1 (US)PSP2 (EU) PSP3 (LATAM)
Buyer Seller
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BIZZABO
Payment Flow 2 - Approval
Your Website
Gateway
Card Association
PSP1 (US)PSP2 (EU) PSP3 (LATAM)
Buyer Seller
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BIZZABO
Payment Flow 2 - Provide the service/goods
Your Website
Gateway
Card Association
PSP1 (US)PSP2 (EU) PSP3 (LATAM)
Buyer Seller
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BIZZABO
Payment Flow 2 - Settlement
Your Website
Gateway
Card Association
PSP1 (US)PSP2 (EU) PSP3 (LATAM)
Buyer Seller
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BIZZABO
Much more to learn
✦ Chargeback
✦ Security
✦ Payment aggregator
✦ Market Place VS Saas VS Store
✦ All-in-one payments solutions
✦ Recurring payments
✦ Invoices
✦ Legal
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Thank You! @katzboaz | @bizzabo