What is a payment gateway also discuss how does it WorksSolu

What is a payment gate-way also discuss how does it Works.

Solution

Payment gateway is agreement of electronic credit card and ACH expenses to provide flawless payment dispensation for business .These gateways encrypt and stock up sensitive in order including praise card figure, AVV2 and CVV figure like that. This ensure that sensitive in order is safe while payment is life form process.

Working:

There are more than a few steps that get during the deal process, which take only a pair of seconds. It starts its operational when a user submit a payment from a commerce website

Let us see these six steps

·         A user process a payment.

·         k-ecommerce firmly passes sensitive in order to the gateway.

·         Gateway tokenizes responsive information and sends it to the merchants acquiring bank.

·         Processor sends an accepted or declined reply back to the expense gateway.

·         Payment gateway followed by push the response and sign back to ecommerce tables.

·         Payment information is acknowledged and useful into ERP.