Nature of payment gateway
Payment gateway vs payment processor vs merchant account
Difference between payment gateway and payment processor
"Payment processors provide direct connections for merchants to card networks like Visa or Mastercard; payment gateways connect merchants with processors that then, in turn, connect you to the card networks. Large payment processors don’t work directly with most businesses; instead, they have reseller agreements with payment gateways to provide their services to merchants. (Some payment processors will work with online businesses directly if they are large enough.)"
"A payment gateway and payment processor are two key players in processing online payments.
The main difference is that a payment gateway captures and sends the cardholder's payment information to the payment processor. It also communicates approved or declined transactions to you and your customers.
Payment processors securely route data between the customer, the issuing bank, the acquiring bank, and the merchant. This happens behind the scenes in a few seconds and finishes with the settlement of funds into your bank account (as long as the payment has been approved)."
Source: Monei, last revised on 24 September 2020
Difference between payment gateway and merchant account
"A merchant account is a type of bank account that lets your business accept multiple forms of payment, including credit cards, debit cards, and ACH payments. Although you can’t actually access this account, it acts as a liaison between your business and the individual card-issuing banks to acquire the funds and settle them in your business bank account. Merchant accounts are provided by a merchant acquirer or acquiring bank, which may also be a credit card processor."
"A payment gateway is a crucial component to eCommerce. An online payment gateway works like a credit card machine in a sense: It allows your customers to submit payment information via the web."