What is a payment gateway
A payment gateway is a type of software enabling a direct connection between your website and a bank, thus allowing for the bank to both process and collect transactions. Some definitions of a payment gateway center on an “e-commerce application service provider” which in essence permits and authorizes online payments for businesses and retailers online. Offline payment gateways are used but these are referred to as POS or point of sale terminals.
For more information on payment gateways, Contact DeltaQuest for assistance.
Features of a payment gateway
A payment gateway facilitates the transactions between a bank and a website, while also offering a high level of protection and security against fraud. This is achieved by encrypting sensitive information including the identity and numbers on credit cards, making a payment gateway a highly sought after and readily used service provider to perform transactions.
Some online merchants may require custom made software for their payment gateway to enable the customization of certain data. A payment gateway system typically process, verify and either accept or decline a monetary transaction made by a credit or debit card online. Without a payment gateway, online merchants would not be able to accept credit or debit cards and would therefore alienate a large proportion of their target market as online card payments have become increasingly popular over recent years.
Some of the main features of a payment gateway include; authorization of payments, software for the purpose of ecommerce payment transactions and encryption of sensitive and personal data, to name only a few.
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