The Payment Gateway technology has become hugely popular over the past few years and many people have started using it. But there are still some people who do not have much knowledge about this technology. Therefore before knowing the way it works and other things it is extremely essential to know what it actually is. This technology is basically used to authenticate and also assists in making automatic electronic payments from the shoppers to the merchants or sellers. Gateway technology is what helps the merchants to accept credit cards on their websites. It is therefore an interface which acts between the banks or financial institutions of the person who is a shopper and the merchant. Therefore it is a software application which helps in the transfer of money from the shoppers to the other side of the merchants. It is basically a software application and is perfect for you if you are a frequent virtual shopper. Virtual or Internet shopping has become very common among people all over the world and it is also a more convenient way of shopping. There are various advantages of using a gateway company for various payment transactions. Some of these are mentioned below. The payment transfer method is safe and authenticated which is probably the most important feature and advantage of this payment method. The second advantage of using the payment gateway is that the verification of various details such as identification and limits are done easily and are absolutely accurate. The third major advantage is that it can also totally accept or reject the transactions that are made. There are various gateway companies which can also work on the taxes and can also compute the various shipping costs. Another reason why this method is considered to be safe is that it can easily detect fraud or any mishappenings. Therefore you do not have to worry about the transactions not happening on time because everything will be systemised. Although this system was primarily set up initially for carrying out transactions for virtual shopping but since this method id more convenient and authentic many merchants have started using this method because they feel that it is better than using a swipe machine for the same. For people who need to know about payment gateway, there is one essential thing that they need to aware of which is the type of payment gateways. Basically they are of two types and are explained below. The first one is the Merchant side API where the code which is used for the processing of the transaction is on the merchant’s side and the payment gateway is accessed by using an API which is an application programming interface. The second one is a more common one which is a secure order form. Here the customer is redirected to the payment processing page. This is a more convenient, method for the customers. There are many payment gateway companies which provide this facility today. If you are looking for more information on payment gateway technology please check out the details on payment gateway company here.
Related Articles -
payment gateway company, payment gateway,
|