Assume that  "Allow payment gateway selection for store owners"

 IS DISABLED 

The payment gateway selected by the administrator will be shown to the customer as a payment method.

1. In the Admin Panel, under Settings > All Settings > Payment Gateways, the administrator adds COD and Stripe as payment gateways and disables the option to let store owners choose their own payment methods.

2. COD and Stripe will be displayed as payment options when customers try to place an order.

 IS ENABLED 

Owners of businesses must choose the payment options that work best for them.

Example, 

"Allow payment gateway selection for store owners" is turned on by the administrator.

1. Stores can set the payment method for their stores individually.

2. Navigate to the Admin Panel > Stores > Edit > Payment Method to do this. Here, when no payment method is selected, it will list all the payment methods enabled by the admin. (i.e COD & Stripe). 

3. Depending on the store owner's preferences, either COD, Stripe, or both can be enabled.