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A paymentgateway is a must-have for online stores. In fact, research from 2023 shows that 69% of Americans said they’ve used a digital payment method in the past 3 months when making a purchase. And the best way for online businesses to start accepting payments is with a paymentgateway.
Any modern paymentgateway has a robust set of APIs (Application Programming Interfaces), along with clear documentation. These APIs allow mobile apps, websites, software platforms, and other devices to seamlessly call the paymentgateway to conduct transactions and retrieve or send data.
Because the transaction takes place through a paymentgateway that utilizes dataencryption or tokenization to secure sensitive information during transmission, accepting payments using a virtual terminal from Stax (which is PCI compliant) is secure. How Does a Contactless Virtual Terminal Work?
Online paymentgateways: Online paymentgateways act as intermediaries between merchants and financial institutions. When a customer purchases on a merchant’s website, the paymentgateway securely collects and transmits the payment information to the payment processor or acquiring bank for authorization.
It captures transactional data, which, combined with other customer interactions tracked by Salesforce, can be analyzed to uncover purchasing patterns and preferences. From credit cards to alternative payment methods like mobile wallets, companies can cater to a global customer base with diverse payment preferences.
Whether that is collecting credit card numbers to transmit with a paymentgateway, placing details into a shared customer relationship management system, or storing card numbers in an encrypted database—all of this sensitive information must be protected according to the specifics of the PCI-DSS standard.
In response to the demand for sophisticated payment software and advanced technologies, payment facilitators have evolved, expanding their range of services. Currently, payment facilitators offer an array of services that differ among providers.
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