Payment gateway is an infrastructure installed by Payment Service Providers (PSPs), in merchant web stores to facilitate e-commerce payment transaction. For secure online payment transaction, PSPs incorporate security seal in merchants payment gateway system in compliance with PCI rules, to ensure data security.
The system gather essential personal and card data supplied by cardholders, en route them through to the e-commerce payment process, for verification of information supply. Result of the transaction is equally channel back through the payment gateway system, for the merchant to decipher and take final decision.
Google Checkout is one example of an online payment processor, that facilitate acceptance of credit/debit cards in “card not present” transactions.
Cardholders in some countries around the world, enjoy further security service advantage, offer by Visa card and MasterCard, to protect payment cards data from unauthorized person access. Cardholders should visit website of their card brand issuers, to sign-up their cards for activation. Verified by Visa and MasterCard SecureCode, are unique password code, drawn personally by cardholders during their card registration.
This password, apart from the Card Verification Value (CVV2) and Card Validation Code (CVC2), that comes with Visa and MasterCard respectively, narrowed cardholders in online payment authentication, to an affair between cardholders and their card issuers.
Payment Service Providers runs verified by Visa and SecureCode logos on merchants payment gateways system, in countries where these additional account protective service are available. Consumers purchasing at online stores bearing logos of either Verified by Visa or MasterCard SecureCode, may have their transaction stalled, until they get their cards activated. Customers purchasing at any of the participating stores, are prompted to enter their secure code at the check-out stage of payment process.
PayPal is another payment gateway that facilitate PayPal account holders online payment transactions including, other virtual payment options. It also process credit and debit cards in online payments transaction.