Process Virtual Credit Card Payment
With the evolution in technology, virtual credit cards have become increasingly popular and a convenient option for making online payments.
What is a Virtual Credit Card?
A virtual credit card (VCC) or a temporary credit card is a virtual prepaid card that is used to make online transactions. Unlike physical credit cards, virtual credit cards are not issued by a bank or a credit card company.
How to Process Virtual Credit Card Payment
Below, we’ll discuss the steps involved in processing a virtual credit card payment:
- Step 1: Enter Customer Details
The first step is to enter the customer details that includes the credit card number and the expiration date.
- Step 2: Validate Card Details
Once the customer details are entered the card details need to be verified to validate if the card is valid and the details are correct.
- Step 3: Submit Details To Payment Gateway
Once the card details have been verified these details need to be securely transmitted to the payment gateway.
- Step 4: Get Approval from Card Association or Bank
The payment gateway then sends the card details for validation and approval to the card association or the issuing bank.
- Step 5: Send Response Back To Merchant
If the card is approved, the payment gateway sends a successful response back to the merchant. The merchant can then charge the customer for the purchase.
In conclusion, the process of processing a virtual credit card payment is quite straightforward. However, merchants must ensure they take the necessary security precautions to protect customers and their personal data.