I’m new to eCommerce and trying to understand the basics. What’s the fundamental concept behind how payment gateways work, and why are they necessary for processing online transactions securely?
Answer by: abdullah-al-naim
3 weeks ago
A payment gateway is an interface that allows the buyer to do the payment and seller to accept the online payment. A payment gateway comes with multiple payment modes such as net banking, Credit/Debit Card, UPI, and Mobile Wallet. It is a mediator which conducts a secure transaction of funds from the bank account of the buyer to the seller’s payment portal.
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