A payment gateway facilitates a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the front end processor or an acquiring bank.
Captures the credit card transaction.
Encrypts the transaction information.
What is payment gateway and how it works?
The Payment Gateway
It seamlessly connects to e-commerce or in-house payment processor for examples, credit cards processing networks or online banking. 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.
What is the process of transaction in payment gateway?
When a customer orders a product from a payment gateway-enabled merchant, the payment gateway performs a variety of tasks to process the transaction. The payment gateway may allow transaction data to be sent directly from the customer’s browser to the gateway, bypassing the merchant’s systems.
What is the role of a payment gateway?
What is the Role of a Payment Gateway? Payment gateway services are required for all online credit card processing. The Payment gateways works with your purchase items from a brick and mortar retailer. So, the main role of a payment gateway is to authorize transactions between you and your customers.
How do I setup a payment gateway?
Perform the following steps to configure your payment gateway:
- Click your username at the top right and navigate to Settings > Payments > Setup Payment Gateway.
- Select the payment gateway from the Gateway Type drop-down.
- Click create gateway.
- Enter the required information for the selected gateway: