Attempt the following question:
State the working of payment gateway.

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Solution

A payment gateway is a merchant service that authorizes credit card or direct payment processing for e-businesses, online retailers, etc.
It facilitates a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone) and the front end processor or acquiring a bank.

HOW IT WORKS -
Payment gateways encrypt sensitive information and details of payment such as credit cards number. It is to guarantee that the information is passed securely between the customer and merchant.
Step- The bank settles the money with the payment gateway and then the payment gateways settle the money to the merchant.

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Attempt the following question:State the working of payment gateway.

Attempt the following question:
State the working of payment gateway.