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Encryption and transfer of payment information The payment gateway that underpins your checkout page will now encrypt the customers payment details as stipulated by industry data security regulations like PCIDSS (Payment Card Industry Data Security Standard) before transferring the data to your payment processor.
By providing a seamless and secure bridge, it simplifies the integration of payment processing across diverse platforms, reducing complexity and costs for businesses. It not only democratises access to payment card data but also levels the playing field for businesses of all sizes.
Additionally, providers are seeking easier and quicker ways to stay on top of the compliance demands of regulations and standards such as PCIDSS, 3DS, and the forthcoming PSD3 amongst others. However, more services mean more integrations to manage, adding to payment providers’ operational burdens.
Analogy: Imagine it as the secure tunnel connecting your store’s checkout page to the payment processor. Key Functions of a Payment Gateway: Encrypts and securely transmits paymentdata. Communicates with the issuing bank and payment processor. May include fraud detection and tokenization services.
SaaS billing solutions are usually talked about within the context of B2C payment processing. But this isn’t sufficient for enterprise-level SaaS companies that want to offer payment processing to their own customers as a value-addedservice. This is where an advanced B2B subscription management platform comes in.
As a payment business dealing with card transactions processing, you’re subject to PCIDSS certification. Partner and integrate with banks, payment providers, gateways, systems, processors, and other solutions to make your offering competitive. Payment processors generate profits by charging merchants transaction fees.
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