No doubt, you have come across the term “payment gateway” on the internet and information related to online shopping. Whether you are on your own or not, with your ecommerce or other online payment-related business, you must have tried your way out to understand what this term means in the exact sense. But there are challenges and opportunities for payment gateway integrations.
In technical terms, a payment gateway is a technology that effortlessly connects the merchant as well as customers with the payment networks.
The use of payment gateway is to collect the information of the client and to provide approval on purchases by sending the payment through the bank. Once the bank sends the response back, the payment is sent to the website. You can have local bank integration with your payment gateway for increased business sales.
The sensitive information like the merchant & customer’s credit card data gets encrypted. It moves through a secure environment through one payment portal to the related bank with guaranteed security.
Challenges faced with payment gateway integration happen, but you can find ways to overcome it.
Like any other technology, payment gateways face challenges too.
Card data security. » Read More