There are a number of reasons why businesses should consider using an online payment gateway. First and foremost, it can save businesses time and money. By using an online payment gateway, businesses can automate their payments process, which can reduce the amount of time they spend processing payments. Additionally, many payment gateways offer a variety of features that can benefit businesses, such as fraud prevention and customer tracking. In order to choose the right online payment gateway for your business, it is important to understand what each option offers and how it can benefit your business.
Types of Payment Gateways
When choosing an online payment gatewayfor your business, there are a few things to consider. The type of gateway you choose will depend on your business’s needs and the types of payments you accept.
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There are three main types of payment gateways: PCI-compliant, third-party processors, and external processors.
PCI-compliant payment gateways are designed to meet the requirements of the Payment Card Industry Data Security Standard (PCI DSS). This means that they are compliant with the latest security standards and are therefore more secure than other types of gateways.
Third-party processors are payment platforms that work with other third-party businesses to process payments. They offer a wider range of services than external processors, and some also offer their own payment processing infrastructure.
External processors are payment platforms that allow businesses to process payments themselves. They offer a greater degree of control and flexibility over how payments are processed, but they can be more expensive than other types of gateways.