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What Is A Payment Gateway?

A payment gateway is a service that receives sales information (such as your customer's credit card or debit card number), encrypts it, sends it to the bank or credit card company, then returns the correct response.

How Does a Payment Gateway Work?

A customer decides to make a purchase from your website or business.  They enter their credit card number, hit "complete transaction", and wait for their confirmation code.  To them, the process seems cut and dry,quick and painless; that's exactly how we want it to be, right?  However, the transaction is a little more complicated. 

 Through a payment gateway, that credit card number has been encrypted to protect your customer's identity and sent through a secure chanel for approval. 

Am I Protected Against Fraud?

 As a safety precaution to you, the bank or credit card company matches the card number with the customer's physical address ( if they've recently moved, this will generally show up as well). 

 Last but not least, the credit card company verifies that the dollar amount specified in the sales transaction is available.  Once this processs is completed (which only takes a few seconds), you will receive a response that tells you if the customer's card has been "approved" or "declined". 

How Soon Will I Receive Payment?

 If the transaction is approved, you will receive payment in your bank account within about three days.

 
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