What is a Payment Gateway??

A Payment Gateway authenticates and routes payment details in an extremely secure environment between various parties and related banks. The Payment Gateway functions in essence as an “encrypted” channel, which securely passes transaction details from the buyer’s Personal Computer (PC) to banks for authorization and approval. On gaining the approval, the Payment Gateway sends back the information to the merchant thereby completing the “order”, and providing verification. A Payment Gateway is immensely justifiable on account of the multiple benefits it offers including:

  • The obvious 24x7x365 convenience.
  • Real time authorization of credit/debit cards.
  • Rapid, efficient transaction processing.
  • Multiple payment options.
  • Secure flow of transaction details among buyers, sellers and financial institutions.
  • Flexible, powerful real-time reports generation.
  • Multi-currency settlements, if the need be.
  • Facility for customer refund.
  • Merchants can get rid of large databases, extensive processing and complex software.
  • CA (Certifying Authority) authenticated secure servers.
  • Collection of bulk data in a cost-efficient manner, with the additional benefit of being checked for card validity.
  • Access to card “hot-list” to filter out fraudulent deals.
  • Ability to provide value-added services to merchants, acquiring and issuing banks.
  • Provision for multiple host interfaces
  • Comprehensive, simple administrative control
  • Stringent security measures to gain customer and merchant trust

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