A payment gateway is a software platform that acts as a medium between an e-commerce seller’s website and the bank that processes a customer’s credit card payment. A payment gateway can also process payments using means such as eCheck (ACH) payments and debit cards. The main function of the payment gateway is to safely transmit the consumer’s sensitive credit/debit card and bank account data to the issuing bank and other entities involved in the payment.
Payment gateways dispatch transaction data to acquiring banks and answers from issuing banks about whether a payment is accepted or declined. In short, payment gateways aid communication between banks.
Security is a main element of all payment gateways as confidential information such as credit card details need to be safeguarded from fraudulent entities. The card associations have stipulated security standards that must be adhered to by all entities with access to card details including gateways.
Infrastructure plays a big role in a SaaS software. If there is an outage, you would not be able to access the service. So, you should pay good attention to the software’s infrastructure when considering SaaS vendors.
Many enterprises fail to ask their shortlisted SaaS providers questions about disaster recovery, service level agreements (SLAs), and security. These are crucial 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 purchase a suitable plan for the required number of users. For this reason, many organizations pay attention only to the rate of the software 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 equipped for situations as such as the SaaS provider 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 It is simple to subscribe to a SaaS product, but think about the effect on your company if the solution is withdrawn by the provider.