Payment gateways

Payment gateways are services or tools that facilitate online transactions by securely authorizing and processing payments between customers and merchants. They encrypt sensitive payment information (such as credit card details) during online transactions to ensure security. Payment gateways serve as intermediaries between merchants’ websites or applications and financial institutions, handling the transfer of funds from customers’ accounts to merchants’ accounts. They support various payment methods, including credit/debit cards, digital wallets, bank transfers, and more. Popular examples of payment gateways include PayPal, Stripe, Square, and Authorize.Net. These gateways often offer features like fraud detection, recurring billing, and integration with e-commerce platforms to streamline online payment processes for businesses.