Basically it's a medium of facilitating the communication of/about the information of transaction that happens. It facilitates the transaction by transferring the information between payment portals for ex if the transaction has to be done from web enabled handset and a bank which acts as a front end processor.
It plays a crucial role in transaction process that happens between the customer and the merchant.
Using the encrypted technique and keep the details secured it stores all the details of payment so that the user does not have to enter the details again and again.
Nowadays due to subscription based billing process the payment gateway offer a unique recurring billing functionality due to which the process gets automated.
The interface is absolutely easy to use and it can be easily integrated to website.
All the sensitive data and details are encrypted before transmission so you need not worry about anything.
It is a medium to process the online transaction between a customer and a merchant for an online business.
Payment gateways come in different packages some of them are free which are charged only when transactions occur through your website and some are charged on recurring basis. Other than these below mentioned charges may be charged if applicable:
The transactions are completely secured since your details and all the information being transferred are encrypted first before sending them.
This is payment card industry which defines a set of security standards which ensures that all the firms who accept or process online payments work in safe and secured environment.