Ultimately, the payment gateway facilitates communication between your website or brick-and-mortar store, the payment processor and the bank-issued credit card is used to complete the purchase (in case or paypal uses paypal as a payment method). Security is an integral part of all payment gateways,subscription payment gateway, so merchants and card-issuing banks can encrypt data to protect every transaction that doesn't take place between sensitive financial management information systems.

Although the transaction process takes only a few seconds, several steps are completed in a short time window. Once the customer is prompted to the secure payment page and places an order, the transaction data (credit card number, CCV2 information, etc.) will be deleted. ) is encrypted and sent through the gateway to your payment processor. The issuing bank of the credit card communicates with the retrieval feedback payment processor in the form of an approval or rejection message. The response is then sent to the payment gateway, which links to your website. Finally, information technology will be explained and an appropriate response can be generated. If the transaction goes through, the merchant fills the order.

Most popular payment Gateways

Being able to accept online payments is the only way to grow an e-commerce business and expand its profit potential. At the same time, it is important to understand that the right combination of payment gateways can also play an important role in generating revenue. Shopping cart abandonment and lost sales are most likely due to not having the right payment gateway.

There are signs that customers are recognizing and trusting several popular payment gateways, but you should also consider adding other gateways that are less well known internationally but specific to your target market and country. Different payment gateways are supported in different countries.

What is a payment gateway?

payment gateway is a service, authorization and process for debit card, u002Fcredit card or paypal payment for online merchants and traditional brick and mortar enterprises. payment gateways feed these transactions by encrypting sensitive data and transmitting it between the payment portal (website or mobile) and the storage/front-end processor.