What is Mobile Payment Gateway?
A mobile payment gateway is a front-end technology that authorizes a transfer of funds between a user’s payment portal (mobile phone) and the merchant acquiring bank. One can think of it in the same way as of a traditional Point of Sale (POS) terminal. At checkout, the gateway transfers the cardholder information to the issuing bank to verify the request. The data is further handled by a payment processor at which one has a merchant account, although some processors have their own gateways. At this stage, the bank will either approve or reject the payment with the corresponding message appearing on the end user’s mobile screen.
