What is the difference between a payment processor and a gateway?

[isratjahan]

Intermediaries directly manage the risk and simplify transactions, while gateways require a direct connection with banks and carriers. In addition, purchases with a gateway are completed within the store, while purchases with intermediaries often redirect the customer to another page.

How does a payment gateway work for online payments?
The payment gateway serves as a bridge australia cell phone number list between the online store and financial institutions, whether banks or card operators. This data exchange occurs in a matter of seconds , approving or rejecting the transaction.

Choosing a payment gateway is ideal for those looking for a fast process and lower fees than those of intermediaries.

Advantages and disadvantages of payment gateways
Advantages:

Organization: They facilitate sales management, generating useful reports to analyze customer behavior.
Customer trust: Offering a secure system increases conversions and strengthens your store's reputation.
Disadvantages:

Risk management: You need to hire an additional anti-fraud system to ensure security.
Delayed payments: In many cases, funds are only released after 31 days.