A payment gateway is an e-commerce service that processes payments for stores. A payment gateway is a secure way of accepting payment online. Payment gateways facilitate these transactions by transferring key information between payment portals such as web-enabled mobile devices/websites and the front end processor/bank.
Payment gateways fulfil a vital role in the e-commerce transaction process, authorizing the payment between merchant and customer. In order to accept payment on Woocommerce, the merchant will have to have a payment gateway installed and activated. There are various payment gateways available but one of the best in South Africa is Payfast, which we will discuss more in-depth later in the article.
Read all about how Online Payment Gateways work here.