Payment Gateway Integration

Popular Payment Gateway Providers:

• Stripe: Known for its developer-friendly APIs and robust security features.

• PayPal: Offers a range of payment solutions for businesses of all sizes.

• PayFast: Offers comprehensive payment gateway and point-of-sale solutions for businesses, catering to businesses of all sizes.

• Peach Payments: Is known for providing secure and seamless payment solutions for businesses, including a range of payment options and developer-friendly APIs.

Key Functions of a Payment Gateway:

• Secure Data Transmission: It ensures that sensitive payment information is transmitted securely over the internet.

• Payment Processing: It verifies the payment details and facilitates the transfer of funds.

• Fraud Prevention: Many payment gateways include fraud detection and prevention measures to safeguard against unauthorized transactions.

• Integration: Payment gateways can be integrated with various e-commerce platforms, allowing merchants to accept payments on their websites.

How a Payment Gateway Works:

• Transaction Initiation: When a customer makes a purchase on an e-commerce website, the payment gateway securely collects the payment information, such as credit card details.

• Encryption and Transmission: The payment gateway encrypts the payment data to ensure secure transmission and sends it to the payment processor or acquiring bank.

• Authorization: The payment processor or bank verifies the payment details and approves or declines the transaction based on the availability of funds and other factors.

• Transaction Settlement: If the transaction is approved, the payment gateway facilitates the transfer of funds from the customer's account to the merchant's account.