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Payment Gateway (PG) is an electronic payment service
Based on contracts for payment processing, PG company settles with bank, Credit Card Company or mobile carrier which at customer’s choice customer pays his/her bill to. PG Company settles with online merchants after transaction fee deduction.
PG performs payment process and settles transaction so online merchants do not have to contact directly with bank, credit Card Company or mobile carrier and do not need organization, staff or system maintenance. Therefore online merchants can provide service and sell goods in convenient and secure payment environment.
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