Payment Gateway - A Convenience For Business And The Customer

By Author: Vijay K Shetty
Total Articles: 2542
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Online shopping has caught the fervor of the Indian population. Thanks to a bounty of deals, offers, savings and sales, online shopping has caught the fancy of one and all. The luxury of sitting at home and ordering clothes, accessories, gadgets, equipments, sports accessories etc, from a different city, location or country has some unique advantages.

However, the reason that online shopping has caught on is the increasing awareness of how safe such online transactions can really be. Most e-commerce websites, e-businesses and online retailers use the secure payment gateway application to ensure safe and secure transaction between the customer, merchant and the payment processor.

A payment gateway facilitates the transfer of information such as credit card information, between a payment portal (such as a website, mobile phone or an automated voice response service) and the acquiring bank.

Most of the established banks have a payment gateway service in online shopping websites thus enabling their customers to shop in peace without the fear of phishing, credit card frauds or any other security concerns. One ...
... can utilize the payment gateway application for:
· Online shopping
· Payment of utility bills
· Making donations
· Transferring money for online trading – this service enables you to transfer your money faster for funding your margin money or funding your IPO account.
· Buying movie tickets

So how does the payment gateway application work?
§ As the transaction requires personal details, the whole process is carried through HTTPS protocol.
§ The request is validated with the use of a secret word in between hash (#) marks.
§ At times, to validate the transaction, the IP address of the user is generally verified.
§ More recently, a SecureCode option is enabled that provides an additional level of security to the transaction.

Thanks to a complex string of algorithms and processes, a secure transaction is possible through a payment gateway. Most established banks provide this facility on most online shopping portals. So start shopping without having to step out of your home or office?

Vijay K Shetty,
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