What is a payment gateway?
A real-time transaction processing system that operates as a payment service using a secure transaction server on the Internet. Most of the systems our processor’s provide are used to submit, authorize, capture, and settle credit card transactions without the need for a separate transaction terminal or processing software. However, often times, merchants will already have processing software and/or shopping cart software established for their website. The software is integrated with the processor’s Payment Gateway. Data entered by the customer online is transmitted to the credit card acquirer. The transaction amount is then authorized by the bank in real-time, and the transaction is settled.
A payment gateway links your web site to the credit card processing companies and your merchant account. When your customer enters his or her credit card number on your web site, the payment gateway obtains authorization for the charge and later handles the transfer of funds into your merchant account. E|CONOMY works with the industry’s most widely used and reliable gateways including Authorize.Net, Plug N Pay, and and CyberSource.
A Payment Gateway is a secure “bridge” between the internet and the credit card processing network. The credit card processing network is (obviously) not directly accessible from the internet. A few companies have taken the time to create a secure connection between the internet and the credit card network. One of the largest is a company called Authorize.Net. Authorize.Net is the preferred Payment Gateway for Invoices Made Easy.
A payment gateway links your web site to the credit card processing companies and your merchant account. When your customer enters his or her credit card number on your web site, the payment gateway obtains authorization for the charge and later handles the transfer of funds into your merchant account.
