01 Dec 2023 By PAYCEC
Payment gateway system architecture includes the Customer, the Merchant, the Issuing Bank, and the Acquiring Bank—each playing a crucial role in the intricate ballet of digital transactions.
Critical Stakeholders for Online Payments:
A Common Payment Sequence:
While this process seems straightforward, the intricacies come to light when considering the role of the payment gateway and payment processor. These elements are the unsung heroes working behind the scenes, ensuring the reliability and security of every online payment transaction.
Akin to a credit card terminal for point-of-sale transactions, a payment gateway is tailored specifically for online transactions, commonly known as a Card Not Present (CNP). Acting as the final checkpoint, it is where a customer inputs payment details for their purchase.
When a customer finalizes a purchase and proceeds to payment, they input their payment details. The payment gateway encrypts this information and transmits it to the issuing bank.
The data is decrypted in a usable format and authenticated by the issuing bank. Once verified, the payment processor securely delivers the information, commonly using Secure Socket Layer (SSL) encryption.
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