G2 Crowd User

Payment Gateway

almost 2 years ago

What is a payment gateway?

Vendor Responses

Response by Chargebee

over 1 year ago

A payment gateway is a software service that authorizes payments for eCommerce transactions.

Imagine this to be the pipe that connects the end user credit cards that are issued by thousands of banks across the world (WellsFargo, Bank of America etc.,) with the card networks (Visa, Master, Amex, Discover etc.,) and eventually your bank account. Of course, there is lot that goes into what a payment gateway does including verifications, authorizations, fraud detection, currency exchange, settlements etc., but essentially it is a software component on the internet to help route money.