Business Studies

Attempt the following question:
State the working of payment gateway.


SOLUTION
payment gateway is a merchant service that authorizes credit card or direct payment processing for e-businesses, online retailers, etc.  
It facilitates a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone) and the front end processor or acquiring a bank.

HOW IT WORKS - 
Payment gateways encrypt sensitive information and details of payment such as credit cards number. It is to guarantee that the information is passed securely between the customer and merchant. 
Step- The bank settles the money with the payment gateway and then the payment gateways settle the money to the merchant.
View Answers

You're just one step away


Subjective Medium Published on 18th 08, 2020
Next Question
Questions 244558
Subjects 8
Chapters 125
Enrolled Students 381
Enroll Now For FREE

Realted Questions

Q1 Subjective Medium
Briefly explain any four advantages of the following:
Telefax

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
While writing an official email _________ should be avoided.
  • A. email address
  • B. abbreviation like "U" for 'you'
  • C. both a & b
  • D. none of the above

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 TRUE/FALSE Medium
State the following statement is True or False:
A policy taken for goods lying at different places is called floating policy.
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 Subjective Medium
Essay Type Questions:
Explain the principles of business correspondence.

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Subjective Medium
What do you mean by Business Correspondence?

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer