What is a payment gateway www.deekpay.com

What is a payment channel

payment channel, also known as the payment path or payment network, refers to the set of links and participants involved in completing the electronic payment process. These links include, but are not limited to: consumers, merchants, payment institutions, banks, clearing agencies and so on. The payment channel organically connects these links together to provide consumers and merchants with safe, convenient and efficient payment services.

The role of payment gateways

Convenience: The payment channel provides consumers with diverse payment methods, such as bank cards,Third party payments, mobile payments, etc., making the payment process more convenient. At the same time, the payment channel also provides merchants with a wider customer base and richer sales channels. Safe and Reliable: Payment channels ensure the confidentiality and integrity of transaction information through the use of advanced encryption technology and security measures. In addition, payment institutions also conduct risk assessment and monitoring of transactions to effectively prevent fraudulent behaviour and risks. Promote economic development: Payment channel reduces transaction costs and improves transaction efficiency, which helps promote the development of e-commerce and the real economy. At the same time, payment channels also provide opportunities for financial institutions and payment institutions to innovate their business and promote the progress of financial technology.

Importance of payment gateways

Payment channels have a pivotal position in the modern economy. Firstly, with the popularisation of the Internet and the rapid development of e-commerce, online transactions have become an important part of people's daily lives. As the infrastructure of online transactions, payment channels are of great significance in guaranteeing smooth transactions and promoting economic development. Secondly, payment channels also provide consumers and merchants with a convenient and secure payment experience, effectively enhancing consumer satisfaction and merchant competitiveness. Finally, payment channels promote the progress and innovation of financial technology and bring new development opportunities for the financial industry.

Types of payment channels

The specific provider of payment acceptance capabilities or the channel party for three-way hopping is also the acquirer, the clearing party.

The process or company through which the payment is realised. The usual methods of payment are: cash, bank transfer, remittance, cheque, cashier's cheque, cash on delivery and so on.

There is an aggregated payment system, there is a payment channel, and there is a transaction volume before there is a rate expenditure problem. Payment channel is the provider of payment acceptance ability or three-way jump channel party, is also the acquirer.

Payment channels are the channels on the platform that support user payments, and these payment channels help platform users to complete the payment of the transaction amount, and support the flow of funds between the platform and the bank, reconciliation and clearing. General trading platforms are docked to multiple payment channel companies.

Third-party payment, for the current market situation, the third-party payment channel is more, but can be roughly divided into three types, namely, POS channel, Internet banking channel, no cartoon channel. This POS channel, is required with the help of a specific POS terminal, which means that if you use this channel to pay, you need to carry a POS terminal can be paid, such as everyone is familiar with the Lakala is this type. Internet banking channel is through the Internet banking to achieve payment. No cartoon channel set in the payment does not need to use the physical type of bank card, you can complete the payment. At present, the common use of third-party payment basically belongs to the cardless payment channel, only need to personal bank card in advance with the third-party payment platform binding, will be able to complete the payment.

fourth party paymentFourth party payment is relative to the third party, as an expansion of the services of the third party payment platform. Third-party payments are between banks and merchants, while fourth-party payments are between third-party payments and merchants, without the restriction of a payment permit licence.

Fourth-party payment integrates various third-party payment platforms/cooperative banks/cooperative telecommunication operators/other service provider interfaces, that is to say, it collects the advantages of each third-party payment and multiple payment channels, and is able to personalise according to the needs of merchants, form the complementary advantages of the resources of the payment channel, meet the needs of merchants, and provide payment solutions suitable for merchants.

Generally speaking, the fourth party payment belongs to the payment service integrator, which has unparalleled flexibility, convenience and complementary payment services. Moreover, fourth-party payment has the advantage of neutrality, which can to a certain extent reconcile the situation of malicious competition among payment institutions and ensure the healthy development of the payment industry.

How the payment channel is applied

Payment channel is mainly used in APP payment, H5 payment, code payment and so on, as well as the derivation of the billing system, payment and so on. Different application scenarios, different system applications, docking payment channel when the choice of payment methods are somewhat different, for example, H5 mall can not use APP payment.

Atpay - we are a professional provider of payment solutions and have been deeply involved for many years inIndia PaymentsWe have successfully provided payment functions for countless customers at home and abroad. We are fully confident in payment integration and high-risk payment processing, and welcome inquiries and exchanges.