What is the payment gateway in Estonia?

06 Jun 2023 By PAYCEC

Payment gateways in Estonia are critical to ensuring the safety and efficiency of online transactions for e-commerce firms. Consider a payment gateway a technological link between a merchant's website or app and a bank or financial institution. It guarantees that payment information flows smoothly between the two, resulting in a frictionless process.

One of the prominent payment gateways in Estonia is the national payment system called "Estonian Payment Gateway" (EPG). EPG provides a robust and reliable platform that enables merchants to accept various payment methods securely, including credit and debit cards, bank transfers, and alternative payment options. EPG ensures the encryption and secure transmission of sensitive payment data, protecting merchants and customers from potential fraud and unauthorized access.

Additionally, Estonia has seen the emergence of international payment gateway providers that cater to the local market. These companies provide many features and services, including multi-currency support, recurring payments, and fraud prevention technologies. They integrate with familiar e-commerce systems, allowing retailers to process payments and manage transactions more efficiently.

Furthermore, mobile payments have gained traction in Estonia, with mobile wallet solutions and contactless payment methods becoming increasingly popular. Mobile payment apps like Mobile-ID and Smart-ID enable users to make payments using their smartphones, offering convenience and enhanced security through biometric authentication or PIN codes.

The Estonia payment landscape is characterized by innovation, with continuous efforts to introduce new payment solutions and improve the overall payment experience. This commitment to technological advancement has fostered a favorable environment for electronic payments, attracting businesses and individuals seeking efficient and secure payment methods.