Three Way Payment Licence in India - What is a Payment Gateway

　　Payment gateways: secure and convenient transaction processing hubs

　　I. How payment gateways work

　　The payment gateway acts as the transaction processing technology responsible for capturing, storing and transmitting card information from the customer to the acquirer. It acts as an intermediary between the customer and the merchant, simplifying the way merchants process card payments.

　　1. The customer enters card information on the payment page, which is encrypted and checked for fraud by the payment gateway.

　　2. The acquirer sends the information to the card organisation for fraud checking and transmission to the card issuer.

　　3. The card issuer authorises the transaction and the acquirer sends the message back to the payment gateway, which notifies the merchant.

　　4. The merchant "captures" the purchase amount from the buyer to the merchant's account.

　　5. The acquirer collects the payment amount from the issuer and "holds" the funds in the merchant's account.

　　II. Security features of payment gateways

　　The payment gateway protects customers' sensitive payment data, follows PCI-DSS compliance standards and uses technologies such as tokenisation and 3D secure authentication.

　　1. PCI DSS Compliance: Protecting Credit and Debit Card Transactions and Preventing Misuse of Personal Information.

　　2. Tokenisation: replacing sensitive card information with unique identifiers to prevent data leakage.

　　3. 3D Secure Authentication: two-factor authentication to reduce fraud.

　　III. Types of payment gateways

　　Payment gateways offer a variety of ways to accept online payments, including hosted payment pages, server-to-server integration and platform integration.

　　1. Hosted payment page: high security level and customisable.

　　2. Server-to-server integration: fast checkout, full customisation, client-side encryption support.

　　3. Platform integration: reduce development time and costs and PCI compliance.

　　IV. Role of merchant accounts

　　A merchant account is a bank account required to accept debit/card and e-card payments, simplifying the way merchants get paid.

　　V. Payment gateways supporting different currencies

　　Payment gateways that support multiple currencies are critical for merchants accepting international payments, increasing customer trust and conversion rates and gaining a competitive advantage.

　　VI. How enterprises choose the best payment gateway

　　When selecting a payment gateway, consider the business model, processing requirements, infrastructure, and other factors to ensure that the requirements are met.

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