The so-called third-party payment, and products are some of the country as well as foreign banks signed a contract and have a certain strength and credibility of security provided by an independent third party transaction support platform. In the transaction through a third party payment platform, the buyer to buy goods, use the account provided by a third-party payment platform payments, notify the seller by a third party payment arrives, make delivery; after the buyer's inspection items, you can notify the payment to the seller , a third-party seller account and then transfer the funds. Third-party payment using payment settlement. Classified according to the payment procedure, the settlement can be divided into step by step method of payment and payment methods, the former including cash settlement, bills settlement (such as checks, promissory notes, bank drafts, acceptances), the Department of turn settlement (such as wire transfers, online payment) , the latter including letter of credit, guarantees the settlement, third-party payment and settlement.
In order to meet the market demand handshake, third-party payment emerged. Third-party buyers and sellers in the absence of credit protection or legal support funds to pay the "middle platform", the buyer will pay the purchase price buyers and sellers outside third party, the third party to provide security transaction services, and its essence is to receive payment operations among those who set up the transition between accounts, make payments realization sinks turn controllable pause, only the views of the two sides agreed to decide where the money goes. Act as an intermediary third party custody and supervision functions, does not bear any risk, so exact, this is a paid hosting behavior to achieve payment guarantee by paying hosting. You can see that the third-party payment has remarkable features: first, third-party payment platform offers a range of application interface program that will integrate a variety of bank card payment on an interface, responsible for docking with the bank transaction settlement, so online shopping faster and more convenient. Consumers and businesses do not need to open different accounts at different banks, shopping online can help consumers reduce costs and help businesses reduce operating costs; Meanwhile, the gateway can also help banks to save development costs, and the potential for banks to bring some profits.
Second, compared to SSL, SET and other payment agreement, the use of third-party payment platform to pay the operation more simple and easy to accept. SSL is a security protocol used widely in SSL only need to verify the identity of the merchant. SET protocol is based on the credit card payment system is relatively mature technology development. But in the SET, the identity of the parties need to be authenticated by the CA, complicated procedures, procedures range, slow and high cost. With third-party payment platform to negotiate, merchants and customers by a third party to complete, make online transactions easier.
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