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A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts.
A payment gateway facilitates a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the front end processor or acquiring bank. Payment gateways are a service that helps merchants initiate e-commerce, in-app, and point of sale payments for a broad ...
A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers , and those who accept them, i.e. retailers .
Merchant services is a broad category of financial services intended for use by businesses. [1] In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC/RFID enabled device.
The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards.A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions.
The payment card industry consists of all the organizations which store, process and transmit cardholder data, most notably for debit cards and credit cards.The security standards are developed by the Payment Card Industry Security Standards Council which develops the Payment Card Industry Data Security Standards used throughout the industry.