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A payment gateway is a service that gives merchants
the ability to perform real-time credit card authorizations from
a Web site over the Internet. The convenience to use the payment
option over the click of a mouse has caught the fancy of customers
worldwide as it provides easy access and reliability.
When we talk about some the advantages that payment
gateway offers, the first one is that it reduces the cost of manually
processing credit card orders. Moreover, it increases control over
individual transactions by improving customer service through real
time status of payment authorizations. In case of major business
players, it helps you manage and increase the knowledge of your
business through detailed reporting. Security wise, it provides
a defense against malicious credit cards attacks and frauds. Other
pros include increase payment service availability and cost reduction
through rapid integration with existing applications.
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