What is Payment Gateway?

[stuartspindlow]

Hello Friends,

Please tell me what is payment gateway.

[RH-Calvin]

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.

[liyans]

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.

[pablohunt2812]

How Does a Payment Gateway Work?
Payment Gateways are software and servers that transmit Transaction information to Acquiring Banks and responses from Issuing Banks (such as whether a transaction is approved or declined). Essentially, Payment Gateways facilitate communication within banks.

Security is an integral component of all payment gateways, as sensitive data such as Credit Card Numbers need to be protected from any fraudulent parties. The card associations have created a set of rules and security standards which must be followed by anyone with access to card information including gateways. This set of rules and security standards is called the Payment Card Industry Data Security Standard (PCI-DSS or PCI).

Submitting an order is usually completed using HTTPS protocol, which securely communicates personal information through the parties involved in the Transaction. Many Payment Providers, such as 2Checkout, enable Merchants with added options when a cardholder purchases a service or product. Aside from providing the ability for real-time transactions, these providers can help to translate currencies between two parties in different countries, as well as bridge language and payment methods. Payment gateways usually charge those who use them a per transaction fee.

[stuartspindlow0]

A payment gateway is an ecommerce service that processes credit card payments for online and traditional brick and mortar stores.

[sinelogixtech]

its an e-commerce application service provider. Service that authorize credit card payment for e-businesses.

[Dam Ponting]

The default payment gateway you choose will be used to process payments for your customer accounts unless the customer account is set up to use a specific payment gateway (under the customer account > billing and payment Info > payment gateway field).
in simple word The Top Payment Gateway. Accept Payments As Easy As Your Customers Send Them.

[techsophia]

Hello

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes direct payment processing for credit card or e-business, online retailers, bricks and clicks or traditional brick and mortar. Payment Gateway can be provided by a special financial service provider as a bank to its customers, but as a special service.

Provides payment transactions through a payment gateway payment portal (such as a website, mobile phone or interactive voice response service) and transfer

Hope it helps you

[praveenitech1]

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers etc..

[Lewis-H]

Payment gateway is a third-party between merchants and customers that securely take the money from customers and send it to merchant's' bank account. Payment gateway is a virtual equivalent of a physical point-of-sale terminal that located in most of retail outlets.