Jun 24 2010

What is a payment processor or payment gateway?

Category: Business & Economy

Answer:

In an internet transaction the payment processor is the virtual terminal behind the scenes. When a purchase is setup in most online shopping carts, the payment processor receives this secured data and transmits it to the merchant account. The purpose of the payment processor/gateway is to capture, secure, and communicate the credit card and billing information to your merchant account who then releases the funds to you after pocketing a percentage of the transaction.


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