What Are Payment Processors?

A payment processor is a financial institution distinct from a bank that processes data from credit card transactions. Providing pre-authorization, post-authorization, and refund services to businesses accepting credit cards. They are responsible for the distribution of funds between consumers and businesses.  Sometimes also referred to as a Transaction Processor.

Electronic Merchant Systems Payment Processing Glossary :

Defining key payment processing and merchant services industry terms to help business owners make better decisions.




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