The eCommerce industry is growing at a high pace. According to the report prepared by Insider Intelligence, eCommerce sales are about to hit the $1 trillion milestone in 2022.
These days, a lot of websites and apps offer the opportunity to purchase products and make payments online. Amazon, eBay, and BestBuy are the most popular eCommerce sites. The integration of a payment gateway is a crucial part of the online marketplace development process. It helps website owners receive payments online.
A payment gateway is a part of a system that drafts money from customers\' accounts and sends them to merchants in the form of payments for products or services.
A payment made on a website has the following flow:
- An order is submitted on a website, and information is sent to a payment gateway
- Data about an order is transmitted to a payment processor
- A payment request is sent to an issuing bank
- An issuing bank sends a payment to a merchant\'s account and provides a transaction receipt to a user
Want to integrate a payment gateway to accept payments online? Follow the expert-grade guide on the integration of a payment gateway in a website and mobile app.
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