Paypal

PayPal is a global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders.

PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type.

Bank Transfer

Wire Transfer is one of the easiest offline modes of sending money globally.ICICI Bank has a vast network of correspondent banks through which money can be credited to any bank account in India.No matter where you are in the world, just issue Wire Transfer instructions to your local bank any money can be credited to any ICICI in India within 1-2 days.

Benefits:

• Super convenient offline mode – all you need to do is issue International Wire Transfer instructions to your local bank.
• Quick – Amount transferred to beneficiary account within 24 hours of ICICI receiving funds in its account held with the correspondent bank.

Visa

Visa’s system includes technology, products, services and marketing programs that facilitate the electronic exchange of information and funds among financial institutions, merchants, consumers, businesses, non-profits and governments. Visa defines the rules that enable financial transactions to be completed safely and reliably, including functional and technical specifications.

Visa Payment Transaction Flow:

• The cardholder presents the merchant with a card for payment. The card data are read directly from the card by a point-of-sale (POS) device, key-entered into it by the merchant or provided by the cardholder on the merchant’s website or over the phone.
• The merchant transmits the transaction information to the acquirer.
• The acquirer sends a transaction authorization request to Visa.
• Visa sends the authorization request on to the issuer or, in certain circumstances, it may perform “stand-in processing” on behalf of the issuer and approve or decline the transaction.
• The issuer sends back to Visa an authorization response, either approving or rejecting the transaction.
• Visa sends the authorization response on to the acquirer.
• The acquirer routes the authorization response to the merchant.

Mastercard

Mastercard is more than the brand you see on your card. We’re the technology making payments happen around the clock. In fact, we operate the world’s fastest payments network, processing transactions in more than 150 currencies.

Mastercard network is behind every transaction ensuring that payments are completed quickly, securely and reliably. The Mastercard network features an intelligent architecture that adapts to the needs of each transaction by blending two distinct processing structures — distributed (peer-to-peer) and centralized (hub-and-spoke).

For example, for transactions that require:

• Fast Processing: think contact-less card or a device at a toll booth — we can use the distributed structure, ensuring these transactions are processed close to where the payment occurred.
• Value-Added Processing: such as real-time access to transaction data for fraud scoring — we can use the centralized processing structure, which ensures advanced processing services are applied to the transaction.