Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is payment gateway and merchant account?

April 26, 2017Gateway merchant account payment

0

Posted

What is payment gateway and merchant account?

1 Answer

0

Posted

Payment gateway is like an encrypted channel that passes the transaction securely from your customer’s computer to the financial institutions to capture the authorization and approval. When the transaction is done, information is sent back through the payment gateway to complete the order and provide you with verification. It is also a key for the secure transfer of funds from your customer’s credit card to your merchant account. Merchant account is an account obtained from financial institution for processing the credit card transactions.