What Is A Payment Gateway And How Does It Work?

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What Is A Payment Gateway And How Does It Work?
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PAY
APP Ask Your Customers to Pay You Anytime and
Anywhere. With Pay App start asking your clients
to pay you in an easy and fast way, via payment
links sent by SMS and WhatsApp.To start, you
only need to download the app and sign up to
enter your business details, and your information
to start receiving your money.
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• A payment gateway is a fairly common term for
  people who own an e-commerce business. But if you
  arent into e-commerce, it is a new term for you,
  and using it may almost feel like uncharted
  territory. In reality, using an online payment
  gateway app isnt as complex as some may think.
  Once you understand what it is and how it works,
  using it is almost like a childs play.
• What is a Payment Gateway?
• In the simplest of terms, a payment gateway is
  used by merchants to accept credit and debit card
  payments from the customers. It is a service that
  authorizes credit card and debit card payments
  for online and offline businesses, without its
  authorizations the payment does not proceed. It
  can be described as an equivalent of a physical
  point of sale terminal in a store.
• How do Payment Gateways work?
• The payment gateway processes payments from a
  customer to the merchant in the following way
• The customer selects a product and proceeds to
  the checkout page. Then selects a payment method.

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• He is then securely redirected to a server by the
  payment gateway for authentication.
• After the authentication is complete, the
  transaction is approved by the customers bank.
• The merchant gets a message for payment received
  and customer for money deducted and payment
  completed.
• The transaction of the bank is settled by the
  payment gateway and the payment gateway further
  settles it with the merchant.
• Using an online payment gateway app reduces the
  chances of credit card fraud. You can rest
  assured that the customer data is encrypted and
  secure since the payment gateways act as the
  go-between to make sure of it. Be certain to
  choose a payment gateway with proper
  certification to avoid security problems.

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