Well for a short explanation what Payment Gateway is, it is something which ensures retailers payments from the customers in any business category. All the sensitive information like credit card numbers, ATM Pin are made safe while a purchase is being made through payment gateway.
However there have always been a different payment processors and Payment gateways but now these two operate with each other. So benefits of Payment gateway are as below :
- Transactions Are Safe : Encrypted Payments secure the sensitive data from the both sides merchant’s and consumer’s
- Universality to the Business : If you got payment gateway on your website then any customer from the world can purchase from your website through that payment gateway.
- Easy And Quick Purchasing For Customers : If one has got debit card or credit card then it is just three steps to purchase something and it will take five minutes for the purchase.
- 24/7 Business : Your business can remain online 24/7 and any one can purchase from your business anytime.