Generally, you will require a wallet to store credit card data and a gateway to process payments. In order to design a personalized payment gateway, follow these simple steps:
Build mobile and web apps to help you conveniently collect payments via mobile phones and the web respectively. Contact the preferential bank you want to be the Member Service Provider (MSP) of your payment gateway- to validate customer registration and payments. Register as an Independent Sales Organization (ISO) with major card associations like MasterCard and VISA to allow you acquire a secure point of sale. Create complete backend policies to allow for merchant creation, billing, report generation and other back-office processes. Avail log-in information to clients via extensions to help them view invoices, execute payments and generate cancellation and refund reports. Provide a payment account where your customers will deposit payments conveniently. Moreover, you can acquire detailed information regarding setting up a fitting payment gateway
from trusted banks in your region.
It's crucial to note that every region has set rules governing payment gateways therefore you'll be required to look deep into the various bank policies and state laws to establish the most fitting approach in your payment gateway establishment.