The document outlines the steps for processing a payment through Authorize.net. Authorize.net manages the routing of transaction data between the customer, merchant bank, payment processor, credit card network, and issuing bank. It passes secure transaction information to the processor, who submits it to the credit card network and issuing bank. The issuing bank then sends funds to the credit card network and merchant bank, who deposits the funds in the merchant's account within 2-4 business days, completing the settlement.

1. Payment Process
Manager
The Next Generation Payment process handler
By Rezaul Karim Majumder

2. Product
Breakdown
Structure

4. Steps for Payment process by Authorize.net

5. Contributor
Eqosoft
Eqoria
Orgmatics
Payment Process Manager
The customer submits his
credit card for payment.
Issuing bank
Service Acknowledgement
Acquiring Bank
Processing Carrier
Authorize.Net manages the
complex routing of the data on
behalf of the merchant through
the following steps/entities.
Authorize.Net passes the secure
transaction information via a secure
connection to the Processor.
The Merchant Bank's Processor
submits the transaction to the credit
card network (like Visa or
MasterCard). The credit card
network routes the transaction to the
bank that issued the credit card to
the customer.
Aithorize.net
The Processor
Authorize.Net stores the
transaction results and
sends them to the website
for the customer and
merchant to see.
Interchange
Settlement
The issuing bank sends the appropriate funds for the transaction to the credit card network, which passes the
Funds to the merchant's bank.
The bank then deposits the funds into the merchant's bank account. This is called 'Settlement', and
typically the transaction funds are deposited into the merchant's primary bank account within two to four
business days.

7. The Business Requirements
 Preparation
 Capture Payment Request
 Manage Payment process
 Manage Authorization
 Manage capture
 Manage settlement
 Manage Accounting