The parties involved.
WHAT HAPPENS WHEN A CUSTOMER PAYS
Your site sends the customer to the gateway, or collects details securely through it The gateway contacts the customer's bank The bank approves or declines The gateway tells your site the result Funds settle to your account later
WHO IS INVOLVED
You The payment gateway The customer's bank Your settlement bank
WHAT THE GATEWAY DOES
Handles the card details, so you never hold them Talks to the banks Reports the result Settles funds to you
WHY YOU SHOULD NEVER HOLD CARD DETAILS
Storing card numbers carries serious obligations and serious risk.
Your site should never see them. That is the gateway's job.
WHAT SETTLEMENT MEANS
Funds reaching your bank account, which is not instant.
Understand the timing before you plan cash flow.
WHAT THIS MEANS PRACTICALLY
Your job is configuration, testing and reconciliation.
