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What is a payment gateway?

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What is a payment gateway?

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A payment gateway enables the merchant to communicate with financial entities involved with the authorization and settlement of a transaction by acting as a central clearinghouse for transaction data. What are the benefits of having a private gateway? SECURITY: Gateways keep customers credit card data behind firewalls so that the merchant doesn’t have to worry about someone “hacking in” to their system. ENCRYPTION: Gateways use Secure Socket Layer (SSL0 channel encryption to prevent Message tampering while the credit card information is being transmitted over the Internet. BACK UP REDUNDANCY: Gateways have a back up system in place to ensure that merchants can continue processing in the event of an emergency. UP TO DATE TECHNOLOGY: Gateways are services that are constantly upgraded to be up to date with the latest technology. And, because the gateways are not on merchant’s computers, there is not need for the merchants to upgrade their software PRICE: Gateways save the cost of an addit

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