What is a Payment Gateway? How does it work? Top 10 Payment Gateways

What is Payment Gateway?
What is Payment Gateway? How it works?

Online transaction is a speedy and comfortable approach for users to transfer the payment. Because of the internet, it can be reached globally, and everyone can quickly sell or buy all around the world through the online payment transaction.

A payment gateway is an e-commerce software that authorizes payments for online traders, e-businesses or electronic business, bricks, clicks, or traditional brick and mortar businesses.
It plays an essential role in processing and authorizing the payment or transactions between customers and traders.

It encrypts sensitive information and payment details, such as credit card number and Card Verification Value (CVV). It happens to guarantee that the data is passed securely between customers and merchants.

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World’s First Payment Gateways Company – First Data Corporation

It is one of the oldest payment gateways company and has at least 30 years of payment sector expertise worldwide. It initially originated in 1969, but started providing its transaction processing services in 1998 in the US and globally. The company offered credit cards, debit cards, gift cards, and many other prepaid card services. First Data Corporation has around 6 million merchant positions worldwide. However, the payment gateway service has a pretty transition fee. If you’re ready to bear the cost, then First Data Corporation is worth a try – acknowledging the high-quality services it provides.

Here You can read about the Company.

Read Between – Top 10 payment gateways you should choose for your E-Commerce store for US

If you want to understand how a payment gateway works or the working of its API’s then you may read here.

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