Payment Gateway
Payment Gateway
- A payment gateway is an online payment service that captures and transfers payment data from the customer to the acquirer.
- The procedure to receive payments includes the customer requiring to fill in some details, like credit/debit card number, expiry date, and CVV.
- Post this, the customer proceeds to make a payment, which then, gets transferred from the
Buyer’s account to the seller’s (merchant’s) account.
- The main role of an online payment gateway is to approve the transaction process between merchant and customer.
- Straight away coming to the functioning of an online payment gateway, it follows a procedure for settling the payment every time.
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