An online APP payment gateway is a financial transaction between a buyer and a seller based on the Internet and using a digital financial instrument supported by a bank.

The process of online monetary payment, cash flow, fund clearing and inquiry statistics between buyers and financial institutions and merchants provides financial support for e-commerce services.

Payments made through third-party online payment platforms are non-banking institutions providing small amount electronic fund transfer services on the Internet, payment platforms providing interfaces to bank payment settlement systems

and channel services or virtual accounts that meet customers' payment needs. The online payment services provided by various payment platforms are generally divided into payment channel service mode and payment platform account service mode.

Payment channel service mode

The payment gateway is a secure interface between the Internet public network platform and the bank's internal financial assets dedicated network media platform users.

Under this social service working model, the payment gateway only serves as a payment channel to pass payment instructions from customers to banks.

The bank transmits such information to the payment platform after completing the transfer, and the payment platform notifies the merchant of this information and settles the merchant's personal account in a timely manner.

• by Heidi
• Mar 03,2022
• Topics
• 225

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