Payment gateway

What exactly is a payment gateway?

A payment gateway is a service provider that enables payments to online retailers. It’s analogous to the POS terminals in physical stores everywhere.
The payment gateway thus forms the interface between the transactions taking place on the website and the payment processor.

Stay on the safe side with the payment gateway process

Let us show you why, as an online retailer, you should rely on a payment gateway:

• A customer selects product in your online shop and pays for it by credit card.
• The customer’s details and credit card information are securely sent to the payment gateway. This serves as a guardian between the customer and the bank.
• The customer’s bank checks whether the customer has enough credit and communicates this to the credit card network.
• The credit card network passes this information to the payment processor, which is a special financial institution.
• If the transaction is approved, the payment processor forwards this information to the payment gateway so the transaction can be completed.
• Now the retailer can ship the goods, and the money is transferred to their account.

The entire process takes only two to three seconds. As an online retailer, you are always on the safe side thanks to the in-depth check of your customer’s liquidity.