Description
What Is a Payment Gateway?
A payment gateway is a technology used by merchants to accept debit or credit card purchases from customers. The term includes not only the physical card-reading devices found in brick-and-mortar retail stores but also the payment processing portals found in online stores.
KEY TAKEAWAYS
- Payment gateways are interfaces used to collect consumer payment information.
- In physical stores, payment gateways consist of the point-of-sale (POS) terminals used to accept credit card information by card or by smartphone.
- In online stores, payment gateways are the “checkout” portals used to enter credit card information or credentials for services.
- Payment gateways are distinct from payment processors, which use customer information to collect payments on behalf of the merchant.
