What Are the Payment Gateways and How Many Types of Payment Gateways Are Available?

A payment gateway basically is a credit card terminal for your website. It serves the same purpose but is not tangible like a credit card terminal. It’s job is to take the transactions from your website and send it to the processing bank to seek an approval, or decline, and return it to your website so you can complete the transaction (or ask for another form of payment). But, instead of having a human being entering the transaction into a credit card terminal and then reacting to the response (approved or declined), your website is sending over the information on your behalf and reacting to the results based on your website’s programming.