IRCTC

Payment Gateway

online payment

Card Tokenisation

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	Provided by an e-commerce app service provider, a payment gateway is a service that authorises payments processing for e-businesses or online retailers. The authorisation process can be provided by a bank to its customers, and can also be provided by a specialised financial service provider as a separate service.</div>
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	The system facilitates a payment transaction by transferring information between a payment portal, such as a retail website, mobile phone, etc) and the acquiring bank.</div>
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	In simpler terms, it is a technology used by a trader to accept debit or credit card purchases from their customers.<br />
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	<strong>How does a payment gateway work?</strong></h4>
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	An important feature of the digital economy, a payment gateway works when a customer orders a product from a merchant who has enabled the system, following which it performs a variety of tasks to process the transaction.</div>
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	The system has always been evolving to reflect consumers&#39; technical capacities. Earlier, terminals would accept credit cards using magnetic strips and required paper signatures from the customer, but after chip technologies, the signature was removed in favour of a personal identification number entered directly into the payment gateway hardware. Nowadays, contactless purchases are available, with many opting for phones as a payment device instead of a plastic card.</div>
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	These online payment gateways require application programming interfaces that allow the retailer to communicate with the underlying payment processing network. A payment processor uses that information to charge the customers&#39; bank or credit card provider. The brick-and-mortar store payment gateways utilise a POS terminal that connects to the payment processing network electronically using either a phone line or an internet connection.</div>
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	<strong>Online Payment Gateways in India</strong></h4>
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	There are various payment gateways in India that allow customers to make payments online, such as:</div>
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	1: Citrus Pay Payment Gateway: It supports most credit cards and the payment process is quick and secure as Citrus Pay has high levels of security in place.</div>
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	2: CCAvenue Payment Gateway: It offers multiple payment options and is available in 18 different languages.</div>
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	3: PayUBiz India Payment Gateway: It is a well-known payment gateway that supports cards, net banking, wallets, international cards, EMI, IVR payments, etc</div>
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	4: Bill Desk: A lot of Indian banks are connected with Bill Desk to make the payment process simple, quick and safe.</div>
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	5: UPI: Unified Payments Interface and this is an instant payment system, which has been developed by the National Payments Corporation of India and the interface has been regulated by the Reserve Bank of India.</div>

Payment Gateway - It is a service that allows online processing of bank transfers or payments for ecommerce or online business. Know more about payment gateways with business-standard.com

Payment Gateway

What is payment gateway?

How does a payment gateway work?

Latest Updates on Payment Gateway

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