A Payment Gateway is also explained in Digital Marketing Course that is a merchant source provided by an e-commerce application source provider that gives credibility to all sorts of credit card or direct payments processed for businesses that are controlled digitally.
. The payment gateway can be provided by various organisations, for instance the banks or a specialised financial service.
A payment gateway helps in the transaction of payments by the transfer of information between a payment portal (such as a website, mobile phone etc) and the front end workstation or acquiring bank.
A payment gateway runs only on SSL websites, SSL certificates create a foundation of trust by establishing a secure connection. It is made to ensure visitors that their connection is safe and sound, browsers provide optical cues, for instance lock icon or green bar.
Once a customer places an order on a site, various actions take place before the actual order is placed,
Encryption: The data is encrypted by the web browser so that it is sent to the vendor's web server.
Authorization Request: The payment processor sends the transaction data to a card association, so that the authorised bank accepts the request of the transaction to be taken place.
Filling the Order: The processor then forwards the pertaining authorization to the merchant and consumer to the payment gateway, that is when the work of the payment gateway is fulfilled.
Also, this process might look extremely complicated but in action it is a matter of seconds.