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WHAT IS PAYMENT GATEWAY?


Provided by an e-commerce app service provider, a payment gateway is a service that authorises payments processing for e-businesses or online retailers. The authorisation process can be provided by a bank to its customers, and can also be provided by a specialised financial service provider as a separate service.
 
The system facilitates a payment transaction by transferring information between a payment portal, such as a retail website, mobile phone, etc) and the acquiring bank.
 
In simpler terms, it is a technology used by a trader to accept debit or credit card purchases from their customers.
 
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