What is a gateway for online payment?
As online shopping grows, secure and efficient payment gateways have become more necessary. A payment gateway authorizes and processes online transactions between buyers and sellers. The payment gateway bridges the buyer's bank and the seller's payment processor. It also ensures that the transaction is secure and the payment gets processed quickly and accurately. In this blog post, we will explore what payment gateways are and how they work. Consumers and businesses can make payments online using this service. According to Statista, the Covid-19 pandemic has taken the world of eCommerce by storm, with online sales expected to reach $5.7 billion by 2022. At the same time, payment-related fraud has increased, accounting for $41 billion in losses by 2022. These figures demonstrate the importance of a payment gateway in addressing the complexities of online payment processing. It is also necessary to ensure a seamless and secure checkout experience. You don't need to be...