What is a Payment Gateway?

A real-time transaction processing system that operates as a payment service using a secure transaction server on the Internet. Most of the systems our processor's provide are used to submit, authorize, capture, and settle online credit card transactions without the need for a separate transaction terminal or processing software. However, often times, merchants will already have processing software and/or shopping cart software established for their website. The software is integrated with the processor's International Payment Gateway. Data entered by the customer online is transmitted to the credit card acquirer. The transaction amount is then authorized by the bank in real-time, and the transaction is settled.