Online transactions seem so simple and quick on the surface, but there are a number of processes working together behind the scenes to move funds from buyer to seller.
The payment process on lootie.com does not work differently than on any other platform or ordinary ecommerce webshop. Maybe with the small advantage that we are offering more payment methods than most other online shops, simply because we are operating worldwide.
In this article we want to shed some light on how the payment process works in the background and why your top up doesn’t appear instantly on your lootie.com wallet, or even why your payment gets rejected – and to say it in advance: it’s most probably on lootie.com (I mean…why should we not want your payment?)
So how does the payment process work?
There is a little more happening in the background and several players are involved in processing your payment.
The authorization process goes roughly like this:
1. You are deciding to top up your wallet on lootie.com with a certain amount, which is technically the same like buying an item in an ordinary online shop.
2. In the payment gateway, this is a piece of software that sits behind the lootie.com online shop, you select your preferred payment method out of many available options. The gateway then encrypts the data to keep it private, and sends it to the payment processor.
3. When using a credit card for instance, the payment processor sends a request to your bank (Issuer) to check to see that there is enough credit to pay for your stuff. If you are using any digital wallet like for example PayPal, this step is most likely happening internally – meaning in some cases payment processor and bank are actually the same vendor.
4. The bank (issuer) responds with a yes (an approval) or a no (a denial).
5. The payment processor sends the answer back to lootie.com that the sale was approved and our system credits your account.
But relax, most of the time all these steps are happening within seconds – and almost instantly your funds are appearing on your wallet.
And if the unexpected happens, read here: What to do if your payment is pending or was rejected?
LOOTIE 