How does a payment gateway work?

Here’s a quick rundown on how the payment gateway process works: Step 1: Once a customer hits the Buy Now button on your website, your payment gateway jumps into action. Step 2: It securely sends your customer's credit card information from your website to the credit card payment network for processing.

What is a cryptocurrency payment gateway?

Cryptocurrency gateways enable you to accept digital payments and receive fiat currency immediately in exchange. These companies remove any uncertainties or reservations you might have about cryptocurrency and allow you to offer more payment options. It's important to note that digital currency payment gateways are not required.

How does a Fiat payment gateway work?

Fiat payment gateways approve or reject bank card and electronic wallet payments based on customers’ bank card details. How does a crypto payment gateway work? Businesses can use the crypto payment gateway if they want to offer a demanding form of payment method but aren’t yet ready to enter the cryptocurrency market completely.

What are altcoins & payment tokens?

It is possible for an altcoin to fall into more than one category, such as TerraUSD, which is a stablecoin and utility token. As the name implies, payment tokens are designed to be used as currency—to exchange value between parties. Bitcoin is the prime example of a payment token.