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A payment processor is in charge of facilitating the transaction, whereas a payment gateway acts as the bridge between your merchant account and the customer’s bank account.
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 processor forwards the response to the payment gateway, who forwards it to the website. The entire process typically takes 2–3 seconds. [3] The merchant then fulfills the order and the above process can be repeated but this time to "clear" the authorization by consummating (e.g. fulfilling) the transaction.
The instant payment network will settle payments in seconds, with the capability to support consumer-to-consumer, consumer-to-merchant, merchant-to-merchant, and bank-to-bank transactions.
Instant credit card number: Credit card issuers offering instant approval typically give you a digital card number that you can use online or in your digital wallet. Sometimes this number matches ...
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