Payment gateway
A payment gateway is a service that helps businesses accept payments from customers. It securely authorizes and routes debit and credit card payments, as well as transactions made via digital wallets, bank transfers and other payment methods.
Frequently Asked Questions
In the case of a card payment, it encrypts a customer’s card information and sends it to the appropriate card network for authorization. The network verifies this information and sends the authorization request to the customer’s issuing bank, which approves or declines the transaction.
It enables businesses to accept payments securely. Payment gateways are commonly used for point-of-sale transactions, e-commerce, subscription billing and recurring payments.
Hosted payment gateways, self-hosted payment gateways, API-hosted payment gateways and local bank integration payment gateways are four types of payment gateway that serve different business needs. Each has its own advantages. Learn more about the four types here.
