A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.
A payment gateway facilitates a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the front end processor or acquiring bank.
This article is immensely helpful in trying to understand the subject of online payment gateway. This sector offers tremendous growth prospects for businesses that merit attention of the aspiring entrepreneurs. So those looking to tap into this lucrative business must check out https://script.biz/product/paypal-clone . You can join us anytime on Skype, telephone, email or live chat and gain access to an expert team of developers, designers and marketing strategists.