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Payment Gateway

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Payment Gateway

The Core

We live in world where technology has pervaded every aspect of our lives. Businesses have moved online and online payments have become one of the most common methods of transacting. Today, we no longer use just debit or credit cards, but other forms of online payments such as net banking and UPIs. This is where a payment gateway (PG) comes into the picture.

A payment gateway is a technology that facilitates and helps a business to collect digital or online payments from their website or app. One can look at the payment gateway as a middleman between the customer and the seller. It thus transfers money from your account to that of the seller in a secure manner. An e-commerce platform can offer this facility of accepting online payments by integrating with a payment gateway.

How does a payment gateway work?

The customers places an order online and clicks submit or checkout.
The e-commerce platform takes the customer to a payment gateway to enter relevant details.
The Payment gateway takes the customer to a secure page of the bank where the transaction is authorised.

The bank may authorize or unauthorize the transaction depending on the balance in the account. The PG delivers the message to the merchant accordingly.

If the transaction is authorised, the bank pays the amount to the PG which in turn pays the merchant.
The customer gets a confirmation message.

Safety and security

In view of the rising use and abuse of digital money, safety and security of data is of ultimate concern and importance. A reputed PG will use several tools and security procedures to ensure the same.

Why use a Payment Gateway?

It facilitates an online transaction, so that the merchant can reach out to customers who wish to pay online.

It takes care of data security and privacy through sophisticated technology so that the data of the parties involved stays safe.

It adds to convenience as well as a better in-store experience.

In all, the payment gateway provides a secure pathway that facilitates online transactions in a safe and efficient manner.