Glossary
Payment Gateway Provider
A Payment Gateway Provider is a company that offers the technology and services necessary for e-commerce sites to facilitate the transfer of information from their shopping cart to the acquiring bank and through the various stages of the credit card transaction process. This includes handling the authorization, settlement, and management of transactions securely.
Key functions of a payment gateway provider include:
The role of a payment gateway provider is critical in the e-commerce ecosystem, as they bridge the gap between the merchant and the banking networks, ensuring that transactions are executed swiftly and securely. This support not only enhances the operational capabilities of e-commerce sites but also boosts consumer confidence in the security and reliability of online shopping. See also “payment gateway.”