The Ultimate List of Online Payment System and Its Features
Payment Processor and Payment Gateway Payment processors and payment gateway work together in a system. If either of the ones goes missing, then the entire system is in troubleshooting. Payment Processor manages the credit card processing by transferring information from the client’s card to the merchant’s bank through the client’s bank account. Similarly, a payment gateway is a virtual terminal of a POS device that connects the merchant’s website and the payment processor. Via virtual terminal, customers can make a payment anytime from any device with an internet connection. The paym...