A payment gateway is the mechanism that reads and transfers payment information from a customer to a merchant’s bank account. Its job is to capture the data, ensure funds are available and get a merchant paid.
Online, a payment gateway is cloud-based software that connects a customer to the merchant. In person, it’s the software built into a point-of-sale system or card reader that processes a transaction when the cardholder uses their card to make a payment.The business or any person making the sale.The financial institution that holds the customer’s account, either a credit card account or a checking account connected to a debit card.
Payment service providers like Square, PayPal or Shopify handle the process end-to-end and act as your merchant account, so you don’t have to deal with as many moving parts. You simply sign up for an account with the payment service provider, add the necessary buttons or code to your website and you can start receiving payments.
If your business has more complex needs, you can choose a payment gateway provider or build a custom solution. You’ll need to open a merchant account with a bank and set up the necessary hardware and software to accept credit card payments.
Advisor Ngô Khả Hân :) :D