How is the payment platform account model of the third-party payment platform？

Payment system platform enterprise account management service development mode, financial management software the user must open a virtual account in the paymen...

Apr 25,2022 | Lydia

Payment system platform enterprise account management service development mode, financial management software the user must open a virtual account in the payment technology platform with the name of the e-mail, and can top up the account data, use the account funds to make payments.

This is very similar to the function of a demand deposit account.

Users we can choose to complete the payment through the network payment gateway in the bank financial account transfer settlement method, but also only in the payment platform between the virtual account transfer settlement work to complete the payment.

The payment platform may payment platforms for websites also involve students in the transaction to facilitate the transaction by continuously improving the security of the market transaction payment.

Whether it is a transfer settlement or social participation in international transactions, the payment platform uses the user's virtual account as the middle point, and the process of payment activity must pass through the virtual account.

If the third-party payment platform also acts as a credit intermediary for transactions, its payment process will be closely integrated with online transactions, and payments from buyers such as Alipay will be transferred to sellers based on the performance of sellers.

In this process, both the customer and the merchant open accounts on the third-party payment platform. After a customer purchases a merchant, the merchant transfers the customer's account and payment information on the third-party payment platform to the third-party payment platform to request payment.

The third party payment platform sends the payment request to the customer, and the customer connects to the opening bank through the third party payment platform to make the payment.

When the payment confirmation is returned to the third party payment platform, the third party payment platform notifies the merchant that the customer has made the payment.

The merchant delivers the goods to the customer, the customer receives the goods and verifies the third-party payment platform, which transfers the payment to the merchant's account opened on the payment platform.

payment gateway