Payment Gateway:-
- A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets. Payment gateway protects credit cards details encrypting sensitive information, such as credit card numbers, to ensure that information pass securely between the customer and the merchant and also between merchant and payment processor
Features of Paypal Payment Gateway:-
- Credit Cards Accepted : Visa, Mastercard, American Express and Discover
- Other payment methods accepted : Payments and Checks
- Account Fees : No set up fees, Monthly fees and Gateway fees. Transaction Discount Rate % of the transaction amount.
- Payment Withdraw Methods : Manually Cheque Request or Direct Deposit in Bank Accounts. Transfer facility available for the following Banks : State Bank of India, Bank of India, Canara Bank, Union Bank of India, HDFC Bank, ICICI Bank, ING Vysya Bank, Axis Bank, Standard Chartered Bank, HSBC and Citibank.
Need Of Payment Gateway:-
- When selling online, it is important that you provide a safe and reliable area for your customers to make transactions. Using a payment gateway is a tremendous asset to your business since it facilitates the payment from the customer to the merchant’s account.