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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