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The online payment platform is actually a "middleware" or "technical plug-in" in the transaction process between buyers and sellers. It is an independent institution that protects the interests of both parties under the supervision of banks.
In the transaction process of online payment platform, the payment method prevents merchants from seeing the customer's credit card information, and also avoids the theft of credit card information caused by repeated public dissemination of credit card information on the network. Take B2C transaction as an example:
In the first step, customers choose goods on the e-commerce website and finally decide to buy them, and buyers and sellers reach a trading intention online;
Step 2, the customer chooses to use the online payment platform as a transaction intermediary, and the customer transfers the money to a third-party account with a credit card;
Step 3, the online payment platform informs the merchant that the customer has paid and requires the merchant to deliver the goods within the specified time;
Step 4, the merchant delivers the goods according to the order after receiving the notice;
Step 5, the customer notifies the third party after receiving and inspecting the goods;
Step 6, the third party transfers the payment from its account to the merchant account, and the transaction is completed.