PG plays the role of a third party that securely transfers your money from your bank account to the merchant's payment portal.
To explain it more simply, at the time of buying a book from a popular digital platform like Flipkart, when you make a online payment gateways for businessfor the book, the payment gateway helps you in the process by transferring your money to Flipkart.
Let's see how the payment gateway works:
The payment gateway focuses on the security of sensitive information provided by the user during the payment process. Encrypts data such as card information and bank account details to ensure user safety.
Below are the basic steps to show how a typical payment gateway works:
- The customer places their order and then presses the Submit or Checkout button or its equivalent button on the website
How the payment gateway keeps information safe
The payment gateway ensures the security of the information you enter. Here is a list of things PG does to keep your data safe:
First, the entire transaction is done through an HTTPS web address. This differs from HTTP because the S in HTTPS stands for Secure. The transaction takes place through the same tunnel
As a result of the hash function, the system often uses the merchant's signed request to verify the transaction request. This signed request is a secret word known only to the merchant and the payment gateway
To ensure the outcome of the payment page process, the IP of the requesting server is verified to detect any malicious activity
