What happens at the bank in terms of support processes for online payment?
After selecting ‘card’ as the method of payment on the merchant’s/service provider’s website, the person making the purchase initiates the payment, as a result of which he or she is redirected to the bank’s payment page equipped with a secure communication channel. In order to make the payment, you will need to enter the card number, the expiry date of the card, and the 3-digit validation code that is on the signature strip on the reverse side of the card. It is you who starts the transaction; after that, the card undergoes a real-time authorisation process in which the genuineness of the card data, the funds coverage and the purchase limit are checked. If all the data is satisfactory, the transaction can be continued and your account-keeping (card-issuing) bank blocks the payable amount on your card. The amount will be charged to (debited from) your account within a few days, depending on the account-keeping bank.
