Payment gateway is an e-commerce application service that authorizes payments for e-businesses and online retailers. It provides the necessary infrastructure that enables merchants to accept credit card and electronic check payments from Web sites.
Payment gateway captures your customers’ payment data and securely communicates with the appropriate financial institution to process and deposit proceeds into your merchant account.
Payment Gateway captures and validates the information required to process the transaction whenever a customer pays through credit card. Payment gateways encrypt sensitive information, such as credit card numbers to ensure that information passes securely between the customer and the merchant.
Billing & CRM solution can be integrated with any Payment Gateway to receive payment from the customer online through credit card. To accept the payment in online mode payment requests are generated and the request is passed to the gateway to process the transaction. The payment is made for the customer only if success response is received from the gateway. If the request fails, then the failure is recorded.
For Example: PayPal, K-Payment Gateway (Kasikorn Bank), Bibit, Authorize.Net, THAIEPAY etc.