Accounting terms

Dictionary of all accounting terms

What is Payment Gateway?

Payment gateway is an online middleman that processes and authorizes financial transactions between a customer and the merchant.

'Payment gateway' should not be confused with 'payment processing'. Payment processing only analyzes and transmits payment transaction information between parties; payment gateway authorizes the transfer of funds from one entity to another.

Popular Payment Gateways

There are a variety of payment gateways that are utilized by online merchants as well as brick-and-mortar shops. Some of them are:

  • PayPal;
  • ApplePay;
  • Square;
  • Stripe;

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