iam keen to know..how someone purchases thru a shopping cart..and as a admin of the site..how can i retrieve the money? please provide details
you need to integrate with some online currencies system like paypal etc. paypal homepage has a integration center. Then your money can be withdrawed by paypal to your bank a/c associated with it.
To receive the money you will need a credit card processor and a payment gateway which is integrated into your shopping cart. I would defently go for a credit card solution connected to your website and maybe in a combination with paypal.
Some popular free shopping cart are allready equip with various plug in to be integrated with different credit card processor, and also paypal. OÃ In paypal, you have a virtual account that is link to your real bank account, which you can deposit in it.
I think you should first recognize whether you are a low risk or a high risk merchant, then figure out whether you need a merchant account for your type of business. If you do, most of these low or high risk merchant account providers have built-in shopping carts for you. Otherwise, you make use of free open source script like osCommerce. Once that's built in your site, your customers navigate and buy through your cart, input the details while the credit card processor verifies it with the bank of which the transaction is finally handled by the merchant account provider. The MAP will deposit the money into your bank. This article might also help: http://ebusinessbuzz.blogspot.com/2007/05/streetsmart-tips-in-choosing-your.html
Think of a supermarket. When you shop around the store, you can pick up a basket or a trolley to wheel around and place all you want to buy in it. That is what an ecommerce shopping cart is and that's all it does. As a customer, you need to bring that basket or trolley to the cashier would would determine how much you need to pay and you pay it. This casher is the payment processor. All shopping cart script will have integration to some payment processor. All you need to do is to sign up with one of the support one and link it to the shopping cart. So once someone is ready to checkout, they will be redirected directly or indirectly to that selected payment processor. You get your money from the payment processor which may send you your earnings on demand or on a regular interval.