It functions as a go-between to make sure safe and secure customer information. It reduces credit/debit card fraud incidence and magnitude. Most online shoppers know the services quite well

Generally, payment gateway services accept all VISA and MasterCard, but if the business involves international transactions, then users need to check if the gateway supports local cards or not. Nowadays, payment gateways also support UPI payments which can be done with just one universal ID.

For a number of factors those that handle huge amounts digitally tend to have many payment gateways. While this is preferred by several leaders, people don't need more than one, particularly if they get started.

A Merchant Account is a program that an acquiring bank offers to enable the company to accept card payments. Transactions are made using a merchant ID for approval but no money is kept in a merchant account, rather the money is deposited into the merchant's chosen bank account by the purchasing bank.

A Third Party Payment Processor is a vendor who charges credit cards on your behalf, and then transfers the funds to you through a variety of electronic payment methods. The two most familiar Third Party Payment Processors are PayPal and Google Checkout. Some other third party payment processors include WorldPay and 2checkout.com.