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What is a Payment Gateway?

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With the rise of digital entrepreneurs and online businesses, the need of a payment gateway has also increased as they are an important factor that make payments possible.

Digital entrepreneurs might think that opening an online business can be done just by buying a domain and hosting, but there are also more things to be covered.

In this article we will talk about what is a payment gateway, which are some payment gateways examples and how to choose the right one for you.

what is a payment gateway
Table of Contents

What is a payment gateway

A payment gateway is the online mechanism that exchanges the monetary operation between a merchant and a buyer.

A payment gateway makes possible for online businesses to accept online payments.

Without a payment gateway, it will be impossible for online business owners to finish the operation, of course if the operation is not paid offline.

Payment gateways brings up this possibility for digital entrepreneurs to have their online business operating normally as they will do in a physical store.

The advantage that payment gateways has brought to online businesses and users are plenty.

Advantages of payment gateways for online business owners

Advantages of payment gateways for users

Young businesswoman doing online payment with her credit card

Which are some Payment Gateways examples?

The increase of digital entreprenurs also has brought an increase of payment gateways services that are offering this solutions.

Some popular payment gateways are Stripe, Paypal, 2Checkout, MercadoPago and Foxpay.

These payment gateways have already some time in the market and have gained popularity among digital entrepreneurs.

MercadoPago and Foxpay are payment gateways that are mainly used in Latin America, while Stripe Paypal and 2Checkout are worldwide used.

How to choose a Payment Gateway?

This can be one of the biggest question among digital entrepreneurs, how to choose a payment gateway.

As there is no right or wrong answer for this, there are some aspects to be considered while choosing the best fits your business.

Following up, we share keyp aspects to consider while choosing a payment gateway.

Analyzing these aspects is an important step to start your online business and keep it growing and secure over time.

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