{"id":11750,"date":"2022-01-11T07:45:07","date_gmt":"2022-01-11T07:45:07","guid":{"rendered":"https:\/\/www.appstudio.ca\/blog\/?p=11750"},"modified":"2023-04-13T09:01:13","modified_gmt":"2023-04-13T09:01:13","slug":"difference-between-payment-gateway-and-payment-processor","status":"publish","type":"post","link":"https:\/\/www.appstudio.ca\/blog\/difference-between-payment-gateway-and-payment-processor\/","title":{"rendered":"Difference Between Payment Gateway and Payment Processor \u2013 Know it All"},"content":{"rendered":"\n

The after-effects of the unprecedented pandemic have affected the economy in several ways but have also paved the way for a plethora of budding opportunities for businesses. According to the Salesforce Shopping Index, the E-commerce industry has significantly boomed while contributing a 71% increase in global digital revenue. While there are several aspects involved in a successful transaction in the ecommerce and other industries, payment gateways and payment processors are the linchpins facilitating smooth transactions.<\/p>\n\n\n\n

The demand for an integrated and multichannel payment source increases rapidly because of the spectacular convenience rendered. Online payment gateways and payment processors are setting a new baseline for growth by enabling organizations to render robust payment platforms to their highly functional, scalable, faster, and reliable customers.<\/p>\n\n\n\n

According to Statista<\/a><\/strong>, the payment gateway market is anticipated to contribute 22.6 million terminals by the fiscal year 2025. A massive upsurge was witnessed as it was 3.6 million terminals in 2015. Around 7 quadrillion rupees are projected to generate the entire digital payments industry by 2025.<\/p>\n\n\n\n

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What is a Payment Gateway?<\/strong><\/h2>\n\n\n\n

A payment gateway is a secure software that aids the ecommerce businesses process transactions on the respective websites and apps via credit cards, debit cards, PayPal, net banking and e-wallets. Different payment gateways ensure smooth and secure transactions made by consumers. Simply stating, the payment gateway authenticates the cardholders\/buyers to make payment securely from their account to the seller\u2019s\/merchant\u2019s account. This is a highly secure protocol, as the data is always encrypted safely. Hiring a proper ecommerce web development agency<\/strong><\/a> <\/strong>is the best way to integrate ecommerce payment gateway protocol in businesses.
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The payment gateway has aided the entire ecommerce industry tremendously; here are some of the benefits of a payment gateway, have a look:<\/h4>\n\n\n\n