How does one start a payment gateway?

Launching a payment processing service isn’t a matter of joke. You need to do a lot of hard work to make sure that the payment data shared by the customers are safe.

You’ll have to decide on the scope of your processing service. You should initially launch your payment gateway as a domestic service provider extending services only to the local merchants. You may also need a licence from the authorities.

You’ll need to keep your software application up to date. Implementing end-to-end encryption (E2EE) is necessary to prevent third-parties from accessing data.

PCI compliance is required by credit card companies to make online transactions secure and protect them against identity theft. Anyone willing to process, store or transmit credit card data is required to be PCI compliant, according to the PCI Compliance Security Standard Council.

It is always a good idea to hire a professional service provider with substantial experience in the processing industry. Some of the leading software companies are providing open source solutions to make the process easier.

admin