What is Payment Processor

Basic purpose of this article is to explain what is Payment Processor.┬áSome sort of payment processor is usually a company (often another party) appointed with a merchant to handle credit-based card transactions for product owner acquiring banks. They’re usually broken down into two types: front-end in addition to back-end. A payment processor is an authorized payment management system that enables businesses to carry and organize repayments for goods in addition to services offered inside electronic transactions. As an example, if you create a purchase on a large website like Amazon, your money is going to be managed and put into the account to Amazon via a payment processing corporation. If you pay with a card at a supermarket, your money undergoes payment processing.