Payment Gateway

A Payment Gateway is a merchant service that authorizes and processes direct payments or credit card payments for e-businesses, online retailers, and traditional brick-and-mortar stores, acting as a secure intermediary between the merchant and the acquiring bank to ensure the safe transmission of sensitive financial data. This critical component of the e-commerce transaction flow encrypts payment details and facilitates the communication required for transaction approval or denial in real-time, typically within 2-3 seconds.