How does the payment gateway work? Read the article to find out how the money flows

How does the payment gateway work? Read the article to find out how the money flows

The payment gateway is an exchange point for information between a payment gateway, such as a website or cell phone, and the payment processor used by the bank to provide the guarantee.

The customer makes an on-site request, payment gateway for ecommerce such as "Submit Order" or "Buy Now".

The client's web application scrambles the data that must be sent to the processor, and the web server encrypts it via SSL (Secure Sockets Layer).

The exchange data is then sent to the payment gateway leasing portal by the Internet commerce trader. The association is also ssl encrypted.

The payment gateway pushes interested exchange points to a payment processor used by the collection management bank of the business owner conducting business online.

Exchange data is currently sent from the payment processor to a card subsidiary

The entire process takes about 2-3 seconds and is divided into three parts.

The bank issuing the account card gets an approval request and sends a response code back to the processor. The response code not only determines the fate of the payment (i.e., confirmation or rejection), but also identifies the reason for the transaction disappointment (e.g., insufficient assets).

The processor gets the response code and pushes it through to the payment gate.

The payer then sends the resulting response code to a web-based commerce site, where it is decrypted into a critical response and sent back to the cardholder and the online business owner.

At this point, the online business owner submits all confirmed approvals in a "cluster" to the receiving bank for settlement through its processor.

The majority of the endorsed reserves are kept by the purchasing bank in the Internet business owner's selected records.

The process from approval to settlement to funding typically takes two days.

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