- Customer purchases a good or service online on the Merchant’s Website
- Coded information with details about the transactions is passed onto Vellaris
- Security systems of Vellaris check the information and details to make sure it is not fraudulent
- If the transaction passes all the checks, it is passed onto the Acquiring Bank
- (If the transaction appears fraudulent, the payment does not go through and no harm is done to the merchant)
- The Acquiring Bank receives the information about the transaction and makes the request to the Issuing Bank through the interntional payment system (Visa, MasterCard etc.)
- Issuing Bank checks the balance of the customer and informs the payment system and acquiring bank whether or not the customer has sufficient funds.
- Vellaris instantly receives the response from the Issuing Bank with a unique acceptance/rejection code.
- The Merchant and the buyer receive confirmation about a successful transaction.
All this takes mere seconds with Vellaris!