Payments

Understanding the payment process is an important step toward getting paid by your customers. When a customer checks out, they can choose to pay for their order using any of the methods that you've enabled in the Payment providers area of your B3 admin. All online payments are proccessed by stripe.

B3 Payments is the simplest way to accept payments online. It eliminates the hassle of setting up a third-party payment provider or merchant account and having to enter the credentials into B3. With B3 Payments you are automatically set up to accept all major payment methods as soon as you create your B3 Website store.

How a credit card payment gets processed

Authorization

The customer uses their credit card to pay for the order on your store. The payment provider you've set up checks with the issuer to make sure the credit card is valid. If the card is valid and has enough funds, then the issuer authorizes the payment. No funds are transferred at this stage.

Capture

After the payment is authorized, the payment has to be captured. When a payment is captured, details about the payment are sent to the acquirer.

Clearing

The acquirer reviews the payment details, and then requests the necessary funds from the company that processes the customer's credit card.

The credit card company sends the transaction information to the issuer. The issuer subtracts a small fee from the total transaction amount, and then sends the remaining amount back to the credit card company. The card company subtracts their fee, and then sends the remaining amount to the acquirer.

Funding

The acquirer subtracts a small fee from the amount, and then transfers the final amount to your merchant account.

What is a credit card authorization period?

All credit card payment providers have an authorization period to allow a charge to be made to a customer's credit card. The authorization process first checks that the credit card is valid, and then that the card has enough funds on it for the transaction.

The authorization period will end after a certain amount of time. The length of the authorization period depends on your credit card payment provider. You need to capture a payment within the authorization period to collect money for your order.

B3 Payments provides an authorization period of 7 days.