payment-gateway

A Payment Gateway is an online system for real time authentication and settlement of credit cards and debit cards. This system helps the customers to pay online and purchase their preferred products online instantly. It provides secure & safe credit card processing, Pre-paid cash card processing, Mobile payments transfer and online bank transfer facility. It also offers administration panel for reviewing the transactions for various purpose i.e. billing, reporting, settlement and accounting.

Payment gateway service is usually provided by banks and third party service providers known as aggregators that manage the process of transferring authorized and captured credit card funds between various financial accounts.

Banks and Companies typically charge merchants an initial set-up charge and a transaction fee on the processed amount.