A payment gate is the service that processes credit card payments for online and brick-and-mortar stores. Payment gateways facilitate the transactions by transferring key information between platform portals (websites and web-enabled mobile devices) and the processor/bank. Payment gateways are vital in the ecommerce transaction process, as they authorize the payment between the retailer and customer
Convenience, control, security, and personalization are key factors for digital buyers when it comes to payments. In order to address this demand, there is increased focus on optimizing the checkout process, both in apps, on mobile sites and in stores. Strategies include fast and seamless payment and the addition of mobile wallets to their payment options.
Loyalty and Marketing
Retailers are increasingly turning to payment companies to integrate loyalty features with payment services, either as supplements to their existing loyalty program or as a standalone option.