Payment Gateways: Everything You Need to Know [Guide]
A payment gateway transfers a customer’s payment information to a seller’s bank account, ensuring the customer has enough funds to make a payment.
HubSpot contributor Olivia Deng has published a new guide ‘‘ to help you understand and utilize the payment gateways efficiently.
She says, “Imagine you run a brick-and-mortar store and a customer comes into the shop and wants to pay for a product. But, they don’t have any cash and would like to pay with a credit card. To accept the customer’s payment, you’ll need a payment gateway, or point of sale (POS) terminal to obtain payment information by card or mobile device.
If you can’t accept their card, you might lose them as a customer to the competing store next door.
Want to launch an e-commerce store as well? You’ll also need a payment gateway to accept customers’ payments.
An online payment gateway takes the form of a checkout portal like HubSpot’s One Page Pay where customers can enter credit card or payment gateway service provider information. Popular payment gateway service providers include PayPal and Apple Pay.
Ultimately, any business that wants to accept credit cards and online payments needs a payment gateway.”
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