What is Payment Gateway and How it Works

A payment gateway is a type of service which allows merchants to handle both in-store and online transactions safely. It serves as a link between the payment method of the customer as well as the bank that handles transactions for merchants by encrypting the sensitive data in order to protect. Once a user enters data for their payment and the gateway approves the transaction through the bank that issued the card, making sure the transfer of funds to the merchant's bank account and the transaction is completed securely and quickly.