Payment gateway

What is a global Payment gateway service

For most of us, when we hear the terms global payment gateway service , it’s confusing to say the least, but in all reality is not that mind blowing, is just a matter of knowing what it is and what it does.

To put in the simplest of terms, a global payment gateway service is a system that will process financial transactions for online retailers, but they are also used by other industries that use e-commerce platforms. For example, there are some providers that cater exclusively to companies offering software or digital product solutions (click to find out more). These platforms are designed keeping the unique requirements of such companies in mind, and also in a way that allows safe transactions and flexible payment options.

The idea behind these advanced solutions that tend to be provided by companies like TokenEx is to protect the financial and credit card information of a customer when they make a purchase by using really sophisticated encryption methods. This is done to ensure that a transaction can take place safely between the customer and the store or restaurant.

In other words, global payment gateway services, like the ones offered by Rango Alto are the equivalent to what we know as a physical point of sale that is used by brick and mortar business all over the world.

And for the online world, a global payment gateway service does a similar job, it basically facilitates the transfer of information between the website (online store, retailer, and so on), and the bank that will actually execute the financial transaction.

Now, that’s the simplified version of what happens, in all reality, there are a lot of things that take place behind every online transaction that we don’t see and can´t even notice because it goes on so fast because companies involved in this area, like Rango Alto, spend a lot of resources to make sure that this is transparent for users.

To give you an idea, before the transaction is actually done, there are quite a few things that happen almost at an instant when you click the “submit” or “purchase” button. Right after you put your payment information on the website, all of it is encrypted by the web browser so it can be transferred from your computer to the server of the store.

Immediately after, the merchant will encrypt the information again and re send it to the global payment gateway service so that it can be transferred from there to the bank that also has to validate it with the credit card company and the bank that issued the card to approve the purchase, all of it in just seconds.

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