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Advantages and disadvantages of payment gateway

Gateway is a kind of networking device that interconnects two devices in different networks so that they can communicate with each other. It acts as a gate for another network. So here this article gives the Advantages and disadvantages of payment gateway to better understand this topic.

Pros or Advantages of payment gateway:

  • Credit card validation and processing in real-time.
  • Money is normally deposited into a bank account automatically.
  • Reports are auto-generated for users.
  • Doesn’t need special user deployment.

Cons or Disadvantages of payment gateway:

  • Fixed fee per month.
  • Percentage fee per amount spent.
  • Fixed fee per transaction.
  • The user bank or the gateway bank will charge a merchant fee for allowing credit purchases. This ranges from 1-5% or more.

Thank you for reading this article. If you have any queries regarding our article on the advantages and disadvantages of payment gateway then do comment in the comment section below.

 

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Author Profile

Divya Chauhan
Divya Chauhan is an expert writer with 10+ years of experience as a content writer. They specialize in making complex topics like IT, Health, and general topic easy to understand. Divya has written over thousands of articles to help people with their content. Prior to joining Way2benefits’s editorial team in 2020, Divya worked as a Professor of BCA college and freelancer blogger.

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