Payment Gateway
Online service that authorizes and processes digital transactions.
Detailed Description
Payment Gateway
What role does a payment gateway play in online transactions?
A payment gateway acts as an intermediary that securely authorizes and processes payment information between customers and merchants.
What are the main types of payment gateways?
The main types include hosted, integrated, API, and mobile payment gateways, each catering to different business needs.
What security measures do payment gateways employ?
Payment gateways use encryption, tokenization, and PCI DSS compliance to protect sensitive transaction data.
How do payment gateways benefit businesses?
They enhance customer convenience, improve cash flow, and reduce fraud risk through advanced security measures.
What costs are associated with using a payment gateway?
Common costs include transaction fees, monthly fees, setup fees, and chargeback fees.