What is a Third-Party Processor?

A Third-Party Processor is a company that provides a variety of bank/Merchant services including billing, reporting, customer service, authorization, and settlement services on behalf of the Acquiring Financial Institution.  Examples of Third-Party Processors are NOVA Information Systems (NOVA), Paymentech, First Data Corporation (FDC), etc.

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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