Core Concepts

Purpose

This section is to help you better understand the core concepts of the API. We will dive into topics such as url parameters for API requests, payment flows, orders, transactions, tokens and more.

Concepts Overview

Payment Flow

Master the complete lifecycle of a payment, from initiation to completion. Learn how to create, process, and finalize orders seamlessly, ensuring a smooth customer experience.

Order

Dive deep into the order object, the cornerstone of your payment system. Explore its structure, properties, and how to leverage it effectively in your application for creating and managing customer purchases.

Transaction

Uncover the dynamic actions that drive your payment process. From payer authentication to fund reservation and transfer, learn how transactions shape the journey of money between customers and your business.

Tokens

Enhance security and streamline repeat purchases with payment tokenization. Discover how to safely store and reuse customer payment information, balancing convenience with robust data protection.

Name
User or Customer
Description
The Customer or User is the individual who intends to make a payment in exchange for a product or service.
Name
Merchant
Description
The Merchant is the business or individual that sells products or services and accepts payments from Customers.
Name
Order
Description
The order is a collection of related transactions that together represent a single purchase event. An order typically goes through multiple states, such as authorization, capture, and refund. The final state of an order is determined by the outcomes of its constituent transactions.
Name
Transaction
Description
A transaction represents a specific action or state within the broader context of an order. Each transaction can correspond to different actions such as authorization, capture, or refund. It is essentially a single step in the process of handling an order.

Name
Token
Description
A token is a unique identifier that represents a customer's payment information. Tokens are used to securely store and reuse payment details for future transactions.
Name
Payment Gateway
Description
The Payment Gateway securely captures and transmits payment information from the customer to the payment processor.
Name
Payment Processor
Description
The Payment Processor communicates with the financial institutions involved to authorize and complete the transaction. It manages the transaction and transfers the funds between the customer and the merchant.
Name
Prahsys
Description
Prahsys (pronounced process) is a payment processing company that offers a suite of services to help Merchants accept payments from Customers.