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• Authorization
• The cardholder requests a purchase from the merchant.
• The merchant submits the request to the acquirer.
• The acquirer sends a request to the issuer to authorize the transaction.
• An authorization code is sent to the acquirer if there is valid credit available.
• The acquirer authorizes the transaction.
• The cardholder receives the product.

• Batching
• The merchant stores all the day’s authorized sales in a batch
• The merchant sends the batch to the acquirer at the end of the day to receive payment.

• Clearing
• The batch is sent through the card network to request payment from the issuer.
• The card network distributes each transaction to the appropriate issuer.
• The issuer subtracts its interchange fees, which are shared with the card     network, and transfers the amount.
• The card network routes the amount to the acquirer.

• Funding
• The acquirer subtracts its discount rate and pays the merchant the remainder
• The cardholder is billed

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1. consumer make purchase
2. SSL/TLS provides secure connection through internet to merchant server
3. Merchant software contacts clearinghouse
4. Clearinghouse verifies account and balance with issuing bank
5. Issuing bank credit merchant account
6. Monthly statement issued with debit for purchase

# data[].attributes.body
1.Consumer makes purchase.
2. SSL/TLS provides secure connection through internet to merchant server.
3. Merchant software connects the clearinghouse.
4. Clearinghouse verifies account and balance with issuing bank.
5. Issuing bank credits merchant account.
6. Monthly statement issued with debt for purchase.

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Sale transaction narrative
Each of the steps below corresponds to one of the numbered boxes in the workflow diagram:

1. All transactions start with a customer. In this case, box 1, the customer is online, typically looking at an HTML form. This form collects the customer's credit card information and sends it to the server for processing. The user fills out the form and then clicks Submit.

2. The server receives the information Posted in the form the user submitted. The server then sends the information to code that resides on the server for processing.

3. ·The processing code receives the information from the Web server and validates the data entered by the user. If the data is valid, the code formats the data into a format that the gateway can understand. The code then sends the formatted data to the gateway. In effect, the code is asking the gateway whether the credit card is a good card and whether it can do the transaction.

4. The gateway receives the formatted data from the HostRAD code, validates the card, and checks to see whether the amount for the transaction is available in the user's account. If the card is good and the funds are available, the gateway sends an approved message back to the code (box 3); if the card is bad or the funds are not available, the gateway sends a declined message back to the code. For providing this service, the gateway charges the merchant money. Sometimes this is a per-transaction charge, and other times it is absorbed in the monthly cost. (The amount charged depends on a number of variables as determined by the gateway when the merchant sets up an account with the gateway.)

5. As transactions arrive at the gateway, they're batched through to the appropriate clearinghouse. Box 5 shows some of the bigger clearinghouses. The clearinghouse that is used is determined by the credit card type and the bank that issued the card. As the clearinghouses receive transactions from all the gateways, the clearinghouses batch the transactions for all the banks involved, transferring monies from bank to bank. For providing this service, the clearinghouse takes between two percent and five percent of the total sale.

6. As the clearinghouses batch the transactions they receive, they transfer money from the customer's bank (6.1) to the merchant's bank (6.2).

7. The merchant's bank receives the transactions from a clearinghouse and then transfers the appropriate amount of money for the customer transaction (started in box 1) into the Merchant's Card Not Present merchant account (7). For providing the Merchant account, the bank will charge various fees. Different banks have very different fee structures; contact your bank for details on Card Not Present merchant account costs.