What is a payment gateway?

A payment gateway is a service used by e-businesses and online retailers to accept online payments from their customers. The online payment modes accepted by payment gateways include credit cards, debit cards and e-wallets. A payment gateways acts as the middleman between the customer’s bank and the merchant’s bank. It accepts the payment from the customer and makes sure that it reaches the merchant’s bank account. 

Some commonly used payment gateways are PayPal, Stripe, and Razorpay.