EC201 2021 – Payment Gateway & E-Wallet


What is a Payment Gateway?

A payment gateway is the online equivalent of PoS machines. That means, essentially, that a gateway works as a bridge between the website and the card acquirers or banks, providing the technical solution that authorizes card payments. When using a payment gateway, merchants are required to establish a contractual relationship with banks and card acquirers, as well as with the gateway provider.

What is a E-Wallet?

E-Wallet is the online equivalent of a physical wallet. It refers to an electronic device or online service consumers can use to make electronic transactions. Users can securely store their bank information and card details in the e-wallet system. Additionally, they can also fund their wallet account and use that money for payment transactions. Regardless of its type, an e-wallet is a payment method. A payment gateway on the other hand, works as a channel for the payment transaction between the buyer and the seller.

Therefore, consumers can choose to pay via digital wallet, but the website will still need the gateway to complete the transaction. We bring you experts from the world of e-commerce to share with you helpful tips and knowledge that you can apply for your e-commerce business.

Key takeaways
– Advantages and disadvantages of e-wallets and payment gateway.
– Recommended payment gateway and e-wallets you should focus on.
– How to get started with setting up your own payment gateway?

Introduction to Sidec
Speaker 1 – Heliziana Madzin from PayNet
Speaker 2 – Gimmy Ong from ipay88
Speaker 3 – Kenneth Kuan from KiplePay

The post EC201 2021 – Payment Gateway & E-Wallet first appeared on SIDEC.
Source: Sitec News

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