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What Does a Payment Gateway Do?

What Does a Payment Gateway Do?
Anything sold online will require the use of a payment gateway. After a product has been selected and the customer decides they want to buy it, somehow, their financial information needs to be exchanged so they can be billed and the seller can get paid. That’s exactly what a secure payment gateway is meant to accomplish. These processors use advanced cryptography methods to ensure that customer information remains confidential, but the seller can still receive their funds. Without a payment gateway, there are no payments, plain and simple. How exactly does a payment gateway work, you ask? Authorization This portion doesn’t involve any actual transfer of funds whatsoever, but instead concerns itself with ensuring that the funds are actually present. Capture Once payment is authorized, the funds will then be “captured.” Sale A combination of the two above transactions, a sale is an immediate authorization and capture of funds from the customer. Refund Void Conclusion

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