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An e-commerce platform's payment gateway is an online payments service that acts as a channel for sending and receiving payments. To receive payments, the customer must enter their credit/debit card number, expiration date, and CVV code, among other information. Afterward, the customer makes a payment, which is then transferred from the buyer's account to the seller's account (of the merchant). What are a Payment Gateway's Duties? Customers and merchants are the main beneficiaries of an online payment gateway . It's a critical part of the online transaction process, allowing for the exchange of money between customers and businesses. It aids the e-commerce platform in enhancing its existence by providing its customers with the convenience of making payments. As a side benefit, the e-commerce platform gains a reputation for facilitating swift, safe, convenient, and profitable payments. Banks or a third-party payment service provider authorized by a bank can offer a p

Our lives have transformed very much in the past few years, specifically with the upgradation of Mobile phones. People have slowly shifted away from carrying cash in their wallets to credit or debit cards and now are going towards payment solutions on their smartphones, for example, UPI and wallets. This can be accounted for the various advantages these digital payment alternatives offer. UPI for businesses and individuals has grown faster in the sense of user enactment, volumes and frequency of transaction.     While many things have been stated regarding wallets & different digital payment modes, we would like to discuss what UPI is. Unified Payments Interface, or UPI, is a real-time payment method to resolve inter-bank payments. With the RBI or Reserve Bank of India administering the service, UPI is on path to turn into the most generally employed Digital Payment method for businesses and individuals, specifically in the tough times of Covid-19.    Advantages that UPI offers fo