Advantages and disadvantages of payment gateway - Way2Benefits

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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 range from 1-5% or more

Explore more information:

  1. Advantages and Disadvantages of Debit card
  2. Advantages and Disadvantages of Credit card
  3. Advantages and disadvantages of Google pay
  4. Advantages and disadvantages of ATM
  5. Advantages and disadvantages of E-banking
  6. Advantages and disadvantages of E-commerce
  7. Advantages and disadvantages of M-Commerce