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What is a payment gateway and how does it work | emerchantpay
Payment Processing Terms Explained for Business Owners 2025
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2 - Payment Life Cycle [Part 1: Payment Initiation and Payment Processing]
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Last Updated: August 23, 2026
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![2 - Payment Life Cycle [Part 1: Payment Initiation and Payment Processing]](https://i.ytimg.com/vi/EcNgTrm5Vig/mqdefault.jpg)
