A payment gateway, or e-commerce service provider, authorizes payments for online businesses, retailers, and tradition stores/shops. It serves as a point of sale, like the ones located in retail outlets. It protects sensitive credit card information and ensures that information moves securely between a merchant and customer and between a processing company/payment processor and a merchant.
Reasons to have a payment gateway
A payment gateway helps with the transfer of sensitive information from a phone, website, or other online merchant to the processing company or bank.
It is important to note that a payment gateway is a necessary part of selling online and as such, great care should be taken when choosing a payment gateway.
