What Is Payment Gateway?

Let’s say you have a website. What if you want to sell some products or services on your website? You can do so, but you cannot collect money from everyone in person. You need an online money sending and receiving system for your website. Let me tell you about such a system today.

How Payment Gateways Work?

A payment gateway is as gateway for money transaction. It is like a tunnel starting on your website and ending in a bank. Payment gateway is essential for sending and receiving payments online. For example, all stores and malls have a cash counter where you pay your bills. Likewise, payment gateway is the cash counter for your customers to check out their cart.

All activities and information in online payment transactions are heavily secured and encrypted. Almost all gateway data contain sensitive information. Hence very secure layers are used for transmitting such data. These payment gateways verify the card entered and validate the transaction. The process of verifying and accepting or declining a card usually takes up to 3 days.

The payment gateways are becoming a widely used electronic payment method now. The payment gateway is always guaranteed high performance and their data are guarded very securely. Very popularly used payment gateways include Paypal, Payza, EBS, Billdesk, CCAvenue, etc. You can get the help of your service provider for opening a payment gateway in your site. Each and every country has different requirements for setting up a successful payment gateway. The requirements for the Indian users usually includes a bank card or a credit card and a PAN card, all containing the same person’s name. Setting up a payment gateway will automatically transfer cash to your bank account from your website.

The process of paying cash through payment gateway is very easy and takes just 3 steps to complete. This advent has made money transfer easier throughout the globe. You could always mail your account information to your customers. But for paying that way, the customers would have to visit their banks. This payment gateway eliminates the need for all these works.

There are dongles available for smart phones and iPhones today. They are called ‘square’ and can be plugged into your phone. This device is used as an electronic card reader for your smart phone. The invention of many such devices will make payment gateway even more easily in the near future.

Our company @ ZolaHost can open up websites of all kinds for you. You can choose any domain for you and we can register it for you as a part of our service. You can choose from various templates pre created by our professionals and build your site on it.

For more information on setting up a payment gateway, contact our support team.