Payment Gateway

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

What is Payment Gateway?

A Payment Gateway is a technology that enables online businesses to accept payment transactions securely over the internet. By encrypting sensitive information, such as credit card details, a payment gateway facilitates the transfer of funds between the customer's bank and the merchant's bank. It acts as a bridge between the customer, the merchant, and the financial institutions involved, ensuring that the payment process is smooth and efficient. Payment gateways play a crucial role in e-commerce by providing a secure payment environment that safeguards sensitive data from potential fraud or theft. Additionally, they help in streamlining the checkout process, improving user experience, and increasing conversion rates for online businesses. By integrating with various payment methods and currencies, payment gateways offer flexibility and convenience to both customers and merchants, making it easier to conduct transactions across different regions and platforms. Overall, payment gateways are essential tools that help businesses handle online payments securely and efficiently, ultimately contributing to the growth and success of e-commerce operations.