How Important is an eCommerce Payment Gateway?
What is a Payment Gateway? As more and more people shift to online shopping, eCommerce platforms have started incorporating user-friendly tools like a payment gateway for online stores for customers. Running an eCommerce platform without this option can be inconvenient for the buyer and the seller. Digital payment has increased significantly amid the pandemic, as per a survey by India Transact Services. The gateway mediator between your eCommerce site and the payment processor. When you use it for your platform, you ensure secure payment authorization for your site. It is like a tunnel responsible for connecting your bank account to the platform where the customer will transfer the money. Payment gateways allow the customers to carry out an online transaction via various payment modes, including debit card, credit card, net banking, UPI, online wallets, etc. Thus, they act as a third party to securely transfer one's money from the bank account to the payment portal of the ...