Payment gateway is a system that can be integrated into a site so that the customer can tranferred the funds to the site’s merchant bank account, instead of to a PayPal account. Payment gateway is service that authorize payment for e-business, online retailers.it is similar to terminal located in most retail outlet.
Payment gateways protect credit/debit card details by encrypting sensitive information, such as credit/debit card numbers, to ensure that information is passed securely between the customer and the merchant and also between merchant and the payment processor.
In simple term we can say that By Payment Gateway system you can manage or receive your clients payments via online payment syatem Via Credit Card, Debit Card (Master, Visa) etc.
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