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. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.
Purchasing and delivering online products and administrations are faster than before. Merchants can easily accept customer payments via credit cards, debit cards, and bank accounts and also along with an online payment gateway.
Actually, a gateway is completely a secure as well as an automated system which accepts the payment from a customer and renders it to the merchant. The system processes the payment, authorizes it, and then accepts or declines the transaction which is entirely based on the received information.
Merchants with an online payment gateway hold an option of consuming a virtual terminal, smart phone applications and even an online shopping cart so as to accept payments. One of the most noticeable or we should say the major aspects to searching the payment gateway is to source one who has been in the service a good number of years and built a reputation for providing a high level of service for its clients.