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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