
Payment Gateway
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.

By pressing the “Order” or equivalent button, the customer places an order on the website or perhaps enters their card details using an automated phone answering service.
If the order is via a website, the customer’s web browser encrypts the information to be sent between the browser and the merchant’s web server. Among other methods, it can be done through SSL (Secure Socket Layer) encryption. The payment service can allow transaction data to be sent directly from the customer’s browser to the gateway, bypassing the vendor’s systems. This reduces the vendor’s Payment Card Industry Data Security Standard (PCI DSS) compliance obligations without redirecting the customer from the website.
The vendor then transmits the transaction details to the payment network. This is another (SSL) encrypted connection to the payment server hosted by the payment service.
The payment service converts the message from XML to ISO 8583 or a variant message format (the format understood by EFT Keys). It transmits the transaction information to the payment processor used by the vendor’s buyer bank.
The payment processor transmits the transaction information to the card issuer (For example Visa / MasterCard / American Express). If a MasterCard is used, the card provider also acts as the issuing bank. After that, it gives a direct approved or denied response to the payment service. Otherwise, the card-issuing directs the transaction to the bank that issued the correct card.
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