If you’re selling online, your interest in top payment gateways is a given, as this partner takes on multiple vital tasks during online transactions.
Most online payment gateways handle:
Payment methods processing. The payment details input by the user, the details on a credit card, for example, are processed and passed on by the gateway, much like a cash register would in a brick-and-mortar store setting.
Sensitive data encryption. A payment gateway encrypts or encodes the identifying data submitted by the user, so they can be safely transmitted in the online space.
Authorization request. In order to verify the validity of data, the payment gateway initiates a request to authorize the transaction. For example, if the shopper is using a card, the gateway takes them to the issuing bank’s 3D secure page.
Capture or Fulfillment. If the gateway receives a positive response on authorization, it gets back to the eCommerce store with a positive response and allows the purchase to proceed to the next step.
Sale. The sale combines authorization and capture into one single process. This is usually used when a transaction is fulfilled instantaneously, very similar to in-store POS payments.
