A payment gateway is a service that securely processes online transactions between a customer’s digital wallet or payment method and a merchant’s account. It acts as an intermediary, verifying the customer’s payment information.

Core banking refers to the central system that manages a financial institution’s critical operations, such as account management, loan processing, and transaction processing. It is the backbone of a bank’s infrastructure, enabling it to provide seamless and efficient customer services.

Many payment gateways are designed to support various payment methods, such as credit cards, debit cards, digital wallets, and bank transfers. Additionally, payment gateways can often process transactions in multiple currencies, making it easier for businesses to accept international payments and expand their global reach.

To choose the right lending solution, businesses should assess their financial needs, goals, and creditworthiness. Factors to consider include the loan amount, repayment terms, interest rates, and collateral requirements. Researching and comparing various lenders, such as banks, credit unions, and alternative lending platforms.