Need of Credit Card Payment Gateway

 


A payment gateway allows merchants to receive payments from customers by connecting payment processors and merchant account providers. It is an e-commerce application service provider that authorizes payments between both parties. This enables merchants to process multiple transactions including electronic checks, ACH, credit, and debit cards in either real-time or digitally. 

A payment gateway protects credit card details by encrypting sensitive information such as card numbers, to ensure the information passed between the merchant and customer is secured. In simple words, payment gateway works as the middlemen between the customer and merchant. An online payment gateway makes it simple to integrate necessary software for merchants.

Need of Payment Gateway

Does every traditional business owner think that what is the need for a payment gateway as a middleman? Then we have the answer - if the customer card cannot be swiped on a POS terminal, as you normally do while processing payment in shops and stores. Then the customer was only left with card information which he is filling on the payment page. But how can you be sure about the card customer is using is their card? In card, not present transactions the risk of fraud is very high, and this is where the payment gateway comes. 

The payment gateway works as the gatekeeper of your customer's payment data. A payment gateway connects with acquiring and issuing banks using data encryption to keep unwanted threats away from the card data. Not only this, but a payment gateway also protects merchants from frauds such as insufficient funds, expired cards, and closed accounts.

How to Find the right Credit Card Payment Gateway?

You have to ensure that you find the right credit card payment gateway. But the question is how you can do that all? Payment gateways are difficult to figure out because most people don’t know well about credit card payment gateways. Lots of people know about PayPal and Checkouts, but when it comes to understanding the technology of these companies then it becomes difficult to understand.

Now that you have learned what you need in a payment gateway for your e-commerce business. A payment gateway must be secure, reliable, and affordable because this is responsible for authenticating and encrypting your customer’s data. Customers want to do and process their transactions smoothly, and they want their information to be secure. 

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