A payment gateway is a technology used by merchants to accept debit or credit card purchases from customers. The term includes not only the physical card-reading devices found in brick-and-mortar retail stores but also the payment processing portals found in online stores.
A payment gateway is an online payments' service that, when integrated with the e-commerce platform, is devised as the channel to make and receive payments. ... Post this, the customer proceeds to make a payment, which then, gets transferred from the buyer's account to the seller's (merchant's) account.