Payment gateways automate the payment transaction process between shoppers and merchants, securely transmitting transaction information to banks. E-commerce businesses depend on payment gateways to ensure that payment information is passed securely from the customer to the merchant and payment processor. This type of software is used by e-commerce managers to accept payments on multiple channels and by finance professionals to track payment performance.
This type of software should not be confused with payment processing software, which focuses on business to business (B2B) payments. Payment gateways integrate with e-commerce platforms, shopping cart software, and subscription management software to process payments for the goods and services sold using these solutions.
To qualify for inclusion in the Payment Gateways category, a product must:
Accept online payments from credit and debit cards, mobile wallets, or BNPL services
Connect the e-commerce website to a payment processor for online transactions
Transmit payment information securely from buyers to payment processors
Support business to consumer (B2C) and B2B payments
Integrate with financial systems and retail point of sale (POS) solutions
Support multiple use cases such as e-commerce, POS, or cross-border transactions
