The extraordinary growth of interconnected computer network & pervasive trends of using this network as new field for conducting Business process are stimulating the demand for new payment methods. These new methods attain high level of security, speed, privacy, decentralization and internationalization. This survey the state of art in payment technology and the authors proposed model for electronic payment gateway, On the basis of requirement of electronic payment gateway. E-payment is now one of most central research areas in E-commerce. E-payment system the automated process of exchanging monetary values among parties in business transactions.