An Online Recharge procedure involves the recharging of prepaid account over the internet by selecting the recharge amount and any one mode of payment from Net banking/Credit Card/Debit Card. This process of online transaction involves the usage of Payment Gateway which assists the information transfer between a payment portal like website and acquiring bank.
Process of Online Recharge
· When a customer recharges his prepaid account via a payment gateway-enabled website, then payment gateway performs a wide range of tasks for processing the transaction.
· Once the customer hits the submit button on the website for making payment via online recharge, web browser encrypts the submitted information and sent it to recharging website web server. This procedure is completed using SSL (Secure Socket Layer) encryption.
· The website server forwards the transaction details to payment gateway. This procedure employs another SSL encrypted connection hosted by the payment gateway.
· The payment gateway forwards the transaction details to the payment processor used by the website’s acquiring bank. The bank receives the authorization request and sends back response to the processor with a response code. The response code was used for defining the fate of payment including approval or decline of payment.
· The processor on receipt of response code forwards the response to the payment gateway. The payment gateway gets the response, and forwards it to the website. This response is then relayed back to the cardholder and the website.
· The entire process gets completed in about 2–3 seconds. The website submits all the approved authorizations in batches for settlement to their acquiring bank. The acquiring bank deposit approved funds into the nominated account of recharging website. It may be same acquiring bank or different bank accounts.
The entire procedure from authorization to settlement takes place in 3 days time. There are numerous payment gateways that offer tools for fraud checking and calculating tax in real time before sending authorization request to the processor.
Some of the popular tools for fraud detection include computer finger printing technology, basic AVS checks, geolocation, identity morphing detection, velocity pattern analysis, and delivery address verification.
Security features of Online Recharge
Online recharge comes packed with efficient security measures for ensuring the maximum safety of customer account and its transactions. It includes encryption codes and firewalls for effective protection against suspicious attacks.
· The entire details of transactions that are communicated via customer – payment gateway is carried out through HTTPS protocol.
· The signed request is often used for validating the request of the payment page result
· The IP of the requesting server is verified for validating the request of the payment page result.
· 3 D secure protocol adds additional layer of security for online payments. It is used for Virtual Payer Authentication (VPA) and branded as MasterCard SecureCode, verified by VISA, and J/Secure by JCB. With 3-D Secure, parties involved in the transactions are able to confirm the identity of each other.