* A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers. It is the equivalent of a physical point of sale terminal (POS) located in most retail outlets. Payment gateway protects credit cards details encrypting sensitive information, such as credit card numbers, to ensure that information passes securely between the customer and the merchant and also between merchant and payment processor.
Advantages of Accepting Payments with a Payment Gateway and Merchant Account
What is a Merchant Account?
A merchant account is a business bank account that allows you to collect payments from credit card or consumer bank accounts. Merchant accounts are provided by acquiring banks – financial institutions that verify the availability of funds, authorize transactions, and obtain and deposit funds from the customer’s bank into your merchant account.
Why do I Need a Payment Gateway?
The vast majority of e-commerce merchants do not have the technical resources, money or expertise to build a direct connection to the payment processing networks. For this reason, payment gateways like Authorize.Net provide merchants with the complex infrastructure and security necessary to connect their Web sites to the payment processing networks. In other words, a payment gateway acts just like a traditional credit card swipe machine you find in the physical retail world.
Register your new payment gateway via this link
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