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What Are Payment Gateways - Razorpay

Online payments have become a part of our daily lives in no time. Weu2019re transacting online not only through debit or credit cards but through numerous other modes like UPI, net banking and wallets as well.<br>

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What Are Payment Gateways - Razorpay

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  1. What is Payment Gateway and How does It Work? Razorpay Best Payment Gateway

  2. What is a Payment gateway? A Payment gateway is a tunnel that connects your bank account to the platform where you need to transfer your money. It is a software that authorizes you to conduct an online transaction through different payment modes like net banking, credit card, debit card, UPI or the many online wallets that are available these days.

  3. How does a Payment gateway work? Now that you have a basic understanding of what are payment gateways?, let us discuss how it works. A payment gateway focuses on securing the sensitive information given by the user throughout the process. It ensures security by encrypting data like card and bank details that have been provided by the user. Using an online payment gateway, businesses can accept payments through various payment modes. One of these payment modes is through credit and debit cards. Click here to read about the lifecycle of an online card payment.

  4. How does a Payment gateway keep information secure? A payment gateway ensures the security of the information you put in by encrypting the data. Now that you have a pretty good idea of what is payment gateway and how it works, let us look at a list of things that a PG does to keep your data safe: • First things first, the entire payment gateway transaction flow is carried out through an HTTPS web address. This is different from the HTTP as the S in the HTTPS stands for Secure. The transaction takes place through this same tunnel. • As a result of the hash function, the system often uses a signed request from the merchant to validate the request of the transaction. This signed request is a secret word, which only the merchant and the payment gateway know.

  5. Thank You!

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