A payment gateway is a must for any ecommerce website as it provides a platform to the user to pay through credit card, debit card or net banking. One can even go for an advanced version where one can get payment accepted through mobile also. We can call a payment gateway as a backbone of any e-commerce platform.
To put in simple words one can say that payment gateway is an e-commerce application service provider that can authorize payments for all e-Businesses. Payment gateways protect credit card or debit cards details by encrypting the sensitive information so that the information cannot be intercepted and obtained by anyone.
Why Payment Gateway is a Mandatory Requirement in Business?
Online payment gateway are gaining popularity in India as new e-commerce companies are starting and even the old brick and mortar establishments are opening up online stores. Online payments are becoming important for all the businesses.