Payment Gateway is a server-based transaction processing system, which enables businesses to authorize, process and manage credit card transactions securely in a real-time online environment from any computer with an Internet connection and a Web browser.
The "Payment Gateway" is specifically designed to accommodate the increasing demand of e-commerce companies for sophisticated multi-currency payment solutions to tap the enormous opportunities for global Internet transactions. Payment Gateway also includes several exciting new technologies that enable e-commerce businesses to display pricing in customer's local currency, while providing back-end settlement and reporting to the merchant in the currency of its own choice.
Payment Gateway services are offered by Banks like CitiBank, HDFC, ICICI etc., and the companies like WorldPay, PlanetPayment etc., are authorized to accept the Credit Cards online. Payment Gateway services are the heart of E-commerce that enable online transaction . They would provide you a Merchant ID No, which helps you to manage and maintain the accounts. |