The ordering party logs in with the certificate into the payCOMweb application and transmits the locally saved files though the Web browser with SSL encryption. He/she then receives an electronic confirmation of receipt.
payCOMweb offers the option of electronic approval by the ordering party. Alternatively, the approval can also be made by the ordering party’s house bank, if the ordering party has sent the credit or debit order on paper.
The payment approval is made upon verification of the payment data. The ordering party can call up, save and print out the processing confirmation at any time.
The creditor’s financial institution of account, i.e. the ordering party, as well as that of the debtor will be notified about the incoming payment, whereby the debtor banks checks whether the requirements (e.g. authorization, credit-worthiness) are sufficient to execute the payment.
If the payments are approved by the respective financial institution, payCOMweb then processes the order and carries out the corresponding credits and/or debits upon the customers’ accounts through the financial institutions.