In today's economy, millions of financial transactions are processed electronically. There are transactions all over the world that are initiated through computer websites. This action is possible through a payment gateway.
In this way, millions of dollars are transferred from buyers to sellers and from bank accounts to bank accounts. You can now also try cbd credit card processing via http://axiompayments.net/cbd-credit-card-processing.
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By using a gateway, transactions can achieve a number of purposes required for modern monetary transactions. With the advent of online sales and other transactions, the need for efficient and secure transfers of funds and information has reached a higher level. The gateway effectively facilitates this transfer.
Its main purpose is to convey information. These transfers begin with the customer placing an order on the website or by phone. The information entered on the website is encrypted to be protected during transmission to the dealer's web server.
The data is sent by the merchant to its gate, where second encryption is carried out. The gateway sends this information to the bank processor where the merchant has the account.
The processor sends the information to the card association. The card association transfers transaction requests to which the bank issues the card. At this point, it will be accepted or rejected. This response is sent back to the processor. The process is reversed from the CPU through the gateway back to the website.