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Payment System
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1994-11-19
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PAYMENT PROCESSING
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Once a user is authenticated, the payment can be processed. Open
Market's payment system implements a modular payment architecture
where accounts can be backed by different types of financial
instruments. The system currently supports credit card accounts, and
can be expanded to support pre-paid accounts, billed (or credit)
accounts, debit cards, and other payment mechanisms.
More information is available in the user account payment information.
Authorization and settlement
For credit card accounts, the payment system has a real-time
connection to the credit card clearing network. The system can
authorize payment in real time based on the profile of the transaction
and the user. The system supports small transactions by accumulating
them and settling them in aggregate.
On-line statements
All transactions are recorded in a user's on-line Smart Statement. The
statement is a summary of recent purchases, and each summary line is a
hypertext link. For information goods, this is a link back to the
purchased item. If access has expired, the merchant's server will give
the user the opportunity to repurchase the item. For hard goods, the
link may point to an order status or summary page.
Do you have any suggestions, comments, or questions? Please send us
your feedback.
_________________________________________________________________
OMI Home Copyright © 1994 Open Market, Inc. All Rights Reserved.