Digital Payment Gateway

Table of Contents

Digital Payment Gateway: Relevance

GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

Recently, Ministry of Electronics & IT has launched Digital Payment Gateway to make the internet accessible to everyone.

It has been launched by National Internet Exchange of India (NIXI), a not-for-profit Company under the aegis of the Ministry of Electronics and Information Technology (MeitY).
To facilitate its customers and partners, NIXI has gone digital by enabling digital payments across its three business units by integrating payment gateways on all its customer-facing websites for ease of use.
NIXI has been contributing to the Digital India Mission by helping the Internet Infrastructure to be self-reliant, robust and secure.
This initiative of our own payment gateway will ensure more digital independence and transparency in NIXI’s own ecosystem.
NIXI has partnered with PayU and NSDL to offer the Payment gateway services.

PayU: PayU is India’s leading payment gateways which provides payment gateway solutions to online businesses and serves more than 4,50,000+ merchants with over 100+ payment methods.
NSDL: NSDL is one of the largest Depositories in the World and has established a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialized form in the Indian capital market. They also provide secure and seamless payment gateway services to businesses.

А payment gateway is the technology that captures and transfers payment data from the customer to the acquirer and then transfers the payment acceptance or decline back to the customer.
A payment gateway keeps the payments ecosystem rolling smoothly, as it enables online payments for consumers and businesses.
It acts as an interface between a merchant’s website and its acquirer.
It encrypts sensitive credit card details, and ensures that information is passed securely from the customer to the acquiring bank, via the merchant.