A payment gateway is a front-end technology of an e-commerce service to validate the customer's banking card that reads and sends customer information to the merchant bank for processing. It is an important key aspect of all e-payment processing such as e-businesses, bricks, and clicks, online retailers and it ensures that the information passed between the merchant and the customer is safe and secure.
When the customer performances an online transaction, the payment gateway performs several tasks to finalize the transaction.
1. Data Collation
The customer places an order by choosing the product or service they want to purchase on the e-commerce website. Then they enter their card details and information onto your payment page, the submitted information directs the customers to your payment gateway.
After the data collection, the payment gateway sends the data to the merchant's processor using the vendor's procuring bank
The payment processor sends the data to the card association, where the card issuing bank views the request, authorize it and approves or denies the payment.
4. Filling the order
The processor then forwards the concerning information of the merchant and customer to the payment gateway and money from the merchant account is settled into your account within 24 - 48hours of a time period.
Payment gateway services serve as a better alternative mode of payment from any device whether it may be mobile, tablet or laptop in a secure, fast and consistent manner. The skilled, talented professionals at NKBB technologies craft your business payment gateway services to provide high availability even in peak transaction time, and render highly reliable services.
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