Know about payment gateways
Payment Gateways: Meaning, Types, and How They Work Payment Gateways: Meaning, Types, and How They Work Payment gateways are the backbone of online transactions. Whether you run an ecommerce website, mobile app, or service-based business, a secure and reliable payment gateway allows customers to pay digitally with ease. What Is a Payment Gateway? A payment gateway is a technology that securely transfers payment information from customers to banks and payment processors. It acts as a bridge between your website or app and the financial institutions involved in the transaction. How Does a Payment Gateway Work? Customer enters payment details on the checkout page Payment gateway encrypts the data Information is sent to the acquiring bank Bank verifies the transaction Payment is approved or declined Merchant receives confirmation Note: Secure payment gateways use SSL encryption and PCI-DSS compliance to protect user data. Types of Payment ...