What is Payment Gateway?
A real-time transaction processing system that operates as a payment service using a secure transaction server on the Internet. The system provides features to submit, authorize, capture and settle credit card transactions without the need for a separate transaction terminal or processing software.

There are 2 main methods of processing transactions online for you to use through your payment gateway:

1. Virtual Terminals

2. Shopping Carts

What is Virtual Terminal?
An online transaction terminal hosted on the payment gateway's transaction server. Merchants simply gain access to their terminal by logging in using their preferred web browser. They can then perform live online transactions using their merchant account. You, the merchant, enter a transaction manually and the virtual terminal will process the transaction in real-time just like a physical card terminal would. Data entered into the terminal is transmitted to the credit card acquirer (the bank holding the merchant account). The transaction amount is then authorized by the bank and the transaction is settled.


What is Shopping Cart?
A software program that is integrated with the payment gateway of a merchant's website for the purpose of transmitting data from online credit card transactions to the credit card acquirer (the bank holding the merchant account). The transaction amount is then authorized by the bank and the transaction is settled just as when transaction data is entered into a virtual terminal.