BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Access to e-banking
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Feature of M-connect
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Payment & settlement system for online transactions (e-Commerce)
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All of the above
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Detailed explanation-1: -In simple terms, a payment gateway is a network through which your customers transfer funds to you. Payment gateways are very similar to the point-of-sale terminals used at most brick and mortar stores. When using a payment gateway, customers and businesses need to work together to make a transaction.
Detailed explanation-2: -A payment gateway is an online payments service that, when integrated with the e-commerce platform, is devised as the channel to make and receive payments. The procedure to receive payments includes the customer requiring to fill in some details, like credit/debit card number, expiry date, and CVV.
Detailed explanation-3: -A payment gateway is the virtual terminal, or point of sale (POS), for online payments. Similar to how brick-and-mortar stores have a physical credit card terminal for accepting card payments, online stores need a payment gateway to securely collect their customers’ payment information.