A payment gateway is a software application that acts as a channel between an e-commerce seller’s website and the bank that processes a customer’s credit card transaction. A payment gateway can also process transactions using methods such as eCheck (ACH) payments and debit cards. The main function of the payment gateway is to securely transmit the buyer’s sensitive credit/debit card and bank account data to the issuing bank and other entities involved in the transaction.
Payment gateways transmit transaction data to acquiring banks and responses from issuing banks about whether a transaction is accepted or declined. In short, payment gateways aid communication between banks.
Security is a main element of all payment gateways as confidential data such as credit card numbers need to be sheltered from fraudulent parties. The card associations have stipulated security rules that must be adhered to by all parties with access to card data including gateways.
Infrastructure plays an important role in a SaaS solution. If there is downtime, you would not be able to access the platform. So, you should pay good attention to the program’s infrastructure when analyzing SaaS providers.
Many firms fail to ask their shortlisted SaaS vendors questions about disaster recovery, service level agreements (SLAs), and security. These are key infrastructure features that need careful consideration when analyzing a vendor.
SaaS is easy to subscribe to. All you need to do is go the website and buy a suitable package for the required number of users. For this reason, many firms pay attention only to the rate of the system and not to infrastructure considerations. They may also think that careful evaluation is not needed since it is so simple to get started quickly.
But you need to be prepared for situations as such as the SaaS vendor going out of business or their website going down. You need to have contingency measures in place to tackle these situations to ensure they do not have a deleterious impact on your firm. It is easy to subscribe to a SaaS solution, but think about the impact on your company if the platform is withdrawn by the vendor.