A payment gateway is an e-commerce application service provider service that authorizes credit card payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.
It is the equivalent of a physical point of sale terminal located in most retail outlets.
Payment gateways protect credit card details by encrypting sensitive information, such as credit card numbers, to ensure that information is passed securely between the customer and the merchant and also between merchant and the payment processor.
A payment gateway facilitates the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the Front End Processor or acquiring bank.
By integrating a good payment gateway in online business it will make the sales robust and handling of transactions with a tight security. While integrating a good payment in online business there are important features as follows;
- Multiple payment options to improves the business efficiency.
- Efficient customer support team.
- Fraud screening features to track misuse of credit card or debit card.
- Secured server to handle and record the confidential information of your customers.
- Features of free add-on is provided to make your online business easier in operating and monitoring.
- User-friendly and speedy in processing to save your and customer’s time.
- Saves time and reduces administration.