What is Payment Gateway?

A payment gateway is a software application that acts as a conduit between an e-commerce merchant’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 consumer’s sensitive credit/debit card and bank account information to the issuing bank and other parties involved in the transaction.

Payment gateways transmit transaction data to acquiring banks and responses from issuing banks about whether a payment is accepted or declined. In short, payment gateways facilitate communication between banks.

Security is a main element of all payment gateways as private data such as credit card numbers need to be protected from fraudulent entities. The card associations have determined security rules that must be adhered to by all entities with access to card details including gateways.

List of Payment Gateway Software Companies

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