maksujenkäsittelyssä

Maksujenkäsittely, or payment processing, refers to the entire system involved in authorizing and facilitating financial transactions between parties. This includes the steps from a customer initiating a payment to the funds being transferred and settled into the merchant's account. In essence, it is the backbone of electronic commerce and point-of-sale transactions.

The process typically begins when a customer presents payment information, often via a credit card, debit card, or other digital payment method. This information is then securely transmitted to a payment gateway, which acts as an intermediary between the merchant and the financial institutions involved. The gateway encrypts the data and sends it to the acquiring bank, the merchant's bank. The acquiring bank then routes the transaction details to the card network (e.g., Visa, Mastercard) and subsequently to the issuing bank, the customer's bank.

The issuing bank verifies the customer's account details, checks for sufficient funds or credit, and approves or declines the transaction. This authorization response travels back through the same channels to the payment gateway and then to the merchant. If approved, the transaction is completed, and the funds are eventually settled into the merchant's account. This entire cycle, often referred to as the payment authorization process, aims to be as rapid as possible, typically taking only a few seconds. Beyond authorization, maksujenkäsittely also encompasses the settlement and clearing phases, where the actual movement of funds occurs between banks.