A Payment Gateway is used to process the transaction when your customer is paying using the LOKE platform. It is an e-commerce application that validates your customer's card details securely and authorises payments from credit cards and directly from banks. Sensitive information such as the card details are encrypted ensuring that information is passed securely from the customer to the acquiring bank via the merchant. It ensures the funds are available and payouts to into your nominated bank account.
This is very similar to the account and gateway that sits behind your Electronic Funds Transfer Point of Sales (EFTPOS) terminal that is responsible for the same thing; processing and deposits.
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