What is a payment gateway?

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05/18/2022 | Chili Cup, Payment gateway

Having a business is complex, especially if it’s time to digitize it and expand! When you’re creating an e-commerce, you will need to integrate payment methods so that your customers can buy your products or services.

In order to have several payment methods, you’ll have to sign contracts with different companies, which is a cumbersome procedure and sometimes inconvenient in terms of expenses (since they charge fees and commissions for each purchase, in addition to manteinance costs).

A simple, safe and more convenient solution is to hire a payment gateway. They are easy to implement, guarantee payment safety and protect your customer’s sensitive information.

But, what is a payment gateway? It’s a portal that connects a bank account with the payment processor, and that authorizes different modes of online transactions (that is to say, it’s the one in charge of sending the information of the transaction through APIs and web payment services).

Some even have international payment methods, which helps the company to expand globally.

Besides, in order to reduce the risk of loss and theft of information, most payment gateway add tools that detect frau, such as:

  • CVV (Card Verification Value)
  • AVS (address verification service)
  • Strong authentication

The idea is that the owner of the company hires a gateway that has multiple payment methods (so that the client can choose their favorite), that is easy to implement and that guarantees information security.

Do you want a payment gateway for your business, but aren’t sure how it will help?
¡We will help you!