Payment gateways act as the key intermediary between merchants and customers

best payment gateway for small business are technologies that enable an ecosystem of transaction processing to continue to operate in your organization.

It provides payment and checkout support for consumers. If you are an online business, you need to include a payment gateway as part of your payment processing.

To help you follow this definition, here are some terms you need to understand when processing payments.

Merchants: Merchants are online businesses that operate in the digital world (you). They provide services or products to customers from all over the world.

Customer: A customer or cardholder is someone who wants to access your products and services to support a transaction.

Issuer: This is the customer's bank that is responsible for issuing the cardholder's debit or credit card on behalf of the card program.

Acquirer: Also known as the acquirer, this is the financial institution responsible for maintaining the merchant bank account (merchant account). The bank transmits the transaction to the bank that issued the information.

The role of the payment services gateway is to obtain and transmit data from the customer (cardholder) for network payments and migrate it to the acquirer.

The result is that you can accept payments from corporate customers. The gateway system uses tools such as Visa and Mastercard processing to (securely) verify and analyze the detailed design information of the customer's card.

The technology can also utilize encrypted card details, so information management remains a security concern.

The payment gateway acts as a key intermediary between the merchant and the customer, ensuring the timely and secure delivery of transactions.

Online payment gateways simplify the way merchants integrate their software. As the "middleman" in payment processing, the gateway manages customer information between the merchant and the acquirer.