Payment gateway

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A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit thẻ or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.^[1] The payment gateway may be provided by a ngân hàng lớn its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.

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A payment gateway facilitates a payment transaction by the transfer of information between a payment portal (such as a trang web, mobile phone or interactive voice response service) and the front over processor or acquiring ngân hàng.

Payment gateways are a service that helps merchants initiate ecommerce, in-app, and point of sale payments for a broad variety of payment methods. The gateway is not directly involved in the money flow; typically it is a trang web server lớn which a merchant's trang web or POS system is connected. A payment gateway often connects several acquiring banks and payment methods under one system.

Typical transaction processes[edit]

When a customer orders a product from a payment gateway-enabled merchant, the payment gateway performs a variety of tasks lớn process the transaction.^[2]

A customer places an order on trang web by pressing the 'Submit Order' or equivalent button, or perhaps enters their thẻ details using an automatic phone answering service.
If the order is via a trang web, the customer's trang web browser encrypts the information lớn be sent between the browser and the merchant's webserver. In between other methods, this may be done via SSL (Secure Socket Layer) encryption. The payment gateway may allow transaction data lớn be sent directly from the customer's browser lớn the gateway, bypassing the merchant's systems. This reduces the merchant's Payment Card Industry Data Security Standard (PCI DSS) compliance obligations without redirecting the customer away from the trang web.
The merchant then forwards the transaction details lớn their payment gateway. This is another (SSL) encrypted connection lớn the payment server hosted by the payment gateway.
The payment gateway converts the message from XML lớn ISO 8583 or a variant message format (format understood by EFT Switches) and then forwards the transaction information lớn the payment processor used by the merchant's acquiring ngân hàng.
The payment processor forwards the transaction information lớn the thẻ association (I.e.: Visa/MasterCard/American Express). If an American Express or Discover Card was used, then the thẻ association also acts as the issuing ngân hàng and directly provides a response of approved or declined lớn the payment gateway. Otherwise [e.g.: MasterCard or Visa thẻ was used], the thẻ association routes the transaction lớn the correct thẻ issuing ngân hàng.
The credit thẻ issuing ngân hàng receives the authorization request, verifies the credit or debit available and then sends a response back lớn the processor (via the same process as the request for authorization) with a response code (I.e.:: approved, denied). In addition lớn communicating the fate of the authorization request, the response code is also used lớn define the reason why the transaction failed (I.e.: insufficient funds, or ngân hàng liên kết not available). Meanwhile, the credit thẻ issuer holds an authorization associated with that merchant and consumer for the approved amount. This can impact the consumer's ability lớn spend further (because it reduces the line of credit available or it puts a hold on a portion of the funds in a debit account).
The processor forwards the authorization response lớn the payment gateway.
The payment gateway receives the response, and forwards it onto the trang web, or whatever interface was used lớn process the payment, where it is interpreted as a relevant response, then relayed back lớn the merchant and cardholder. This is known as the Authorization or "Auth."
The entire process typically takes 2–3 seconds.^[3]
The merchant then fulfills the order and the above process can be repeated but this time lớn "Clear" the authorization by consummating the transaction. Typically, the "Clear" is initiated only after the merchant has fulfilled the transaction (I.e. shipped the order). This results in the issuing ngân hàng 'clearing' the 'auth' (I.e. moves auth-hold lớn a debit) and prepares them lớn settle with the merchant acquiring ngân hàng.
The merchant submits all their approved authorizations, in a "batch" (end of the day), lớn their acquiring ngân hàng for settlement via its processor. This typically reduces or "Clears" the corresponding "Auth" if it has not been explicitly "Cleared."
The acquiring ngân hàng makes the batch settlement request of the credit thẻ issuer.
The credit thẻ issuer makes a settlement payment lớn the acquiring ngân hàng (the next day in most cases).
The acquiring ngân hàng subsequently deposits the total of the approved funds into the merchant's nominated trương mục (the same day or next day). This could be an trương mục with the acquiring ngân hàng if the merchant does their banking with the same ngân hàng, or an trương mục with another ngân hàng.
The entire process from authorization lớn settlement lớn funding typically takes 3 days.

Many payment gateways also provide tools lớn automatically screen orders for fraud and calculate tax in real time prior lớn the authorization request being sent lớn the processor. Tools lớn detect fraud include geolocation, velocity pattern analysis, OFAC list lookups, 'deny-list' lookups, delivery address verification, computer finger printing technology, identity morphing detection, and basic AVS checks.

^[4] In easy words, a transaction processes with the following steps;

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1: When the customer enters their thẻ detail in the payment gateway, the payment gateway transfers it securely lớn the Merchant’s trương mục.

2: Then a request is sent through your merchant trương mục lớn the payment processor.

3: The payment processor then sends the request lớn the issuing(customer’s) ngân hàng.

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4: If the transaction is approved the customer’s trương mục is debited and the funds are transferred lớn Merchant’s(Acquiring) ngân hàng.

This is how a transaction works in simple words.

White label payment gateway[edit]

Some payment gateways offer white label services, which allow payment service providers, e-commerce platforms, ISOs, resellers, or acquiring banks lớn fully brand the payment gateway’s technology as their own.^[5] This means PSPs or other third parties can own the end-to-end user experience without bringing payments operations—and additional risk management and compliance responsibility—in house, although the buổi tiệc ngọt offering the white labelled solution lớn its customers might still be responsible for some regulatory requirements such as Know your customer.^[6]