Payment Gateway: Bridging the Gap Between Merchants and Banks
Payment Processor: Handling Transaction Processing and Settlement
A payment processor is responsible for the backend transaction processing and settlement. It securely transfers payment information between the payment gateway, banks, and credit card networks. Payment processors perform tasks such as verifying transaction details, checking for fraud, authorizing payments, and settling funds into the merchant’s account. They ensure the smooth flow of funds from the customer to the merchant, providing transparency and security throughout the transaction process.
Fun Fact: Did you know that the first credit card was introduced in 1950 by Diners Club? Initially, it was only accepted at 27 restaurants in New York City, but it paved the way for the modern credit card industry.
See how can AgileSoft help you?
Agile Soft Systems Inc is a design-led custom software development and consulting company that delivers elite software development solutions in the USA to businesses of all sizes.
We work closely with our partners to offer full advantage of technology opportunities. Our team of experts is constantly thinking of new ways to improve upon the technology we already have to speed up the delivery of practical results.
Contact an expert at [email protected] or +1 510 894 6752.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.