A traditional payment gateway routes transaction data between the merchant's checkout and the card network authorization system. It communicates with the acquiring bank, requests authorization from the card issuer, and returns an approval or decline to the merchant's point of sale. Every step in this process involves a financial institution that makes risk-based decisions about which transactions to approve and which merchants to serve. A blockchain payment gateway replaces this entire chain with a direct connection between the merchant's checkout and the customer's crypto wallet.
The high risk payment gateway that 27 Blockchain deploys generates a wallet-compatible payment request, communicates with the customer's wallet for transaction approval, monitors the blockchain for confirmation, and records the settlement. No acquiring bank authorizes the transaction. No card network evaluates the merchant's category code. The gateway operates on blockchain rails where the transaction is validated by the network's consensus mechanism, not by a financial intermediary's risk model.
