Payment Gateway

A payment gateway is an application service provider that authorizes credit card, debit card and electronic check payments for businesses. A payment gateway facilitates the transfer of information between a payment portal (such as a website, mobile phone, or interactive voice response service) and the front-end processor or acquiring bank. When a customer orders a product from a payment gateway-enabled merchant, the payment gateway performs a variety of tasks to process the transaction.

Related Terms

  • ACH Operator

    ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the...

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  • CIE (Customer Initiated Entry)

    A standard entry class code that enables a consumer to initiate an ACH credit into the ACH network whereby funds will be transferred to a company for...

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