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What does 'Payment Gateway' mean?

A payment gateway is a technology used in e-commerce websites and applications that enables secure online transactions, allowing customers to pay for goods and services electronically. It acts as a bridge between the merchant's website or application and the bank, facilitating the transfer of funds from the customer's bank account to the merchant's account. One of the key features of a payment gateway is its ability to encrypt sensitive data, such as credit card information, to ensure the security of the transaction. This is done using advanced encryption

Software with Payment Gateway functionality