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Payment Gateway vs Payment Processor: What You Need to Know

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Industry data shows that 70% of consumers say the availability of their preferred payment method is very or extremely influential when choosing an online store. TL;DR A payment processor is a provider that handles transactions between a buyer’s bank and a seller’s bank.

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All You Need to Know About Internet Credit Card Payment Processing

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The payment processor is a financial institution that handles transactions between the two banks. Meanwhile, a payment gateway is the technology that authorizes and processes payments between a buyer and seller by securely transmitting payment data.

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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

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Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments. Anti-Money Laundering (AML): AML checks prevent the use of payment systems for illegal activities, such as money laundering or financing terrorism.

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Credit Card Processing for Small Business: Everything You Need to Know

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Whether you are starting a new online store or looking to grow your existing brick-and-mortar small business, you must make provisions for accepting credit card payments. We have also put together a list of the top three best credit card processing platforms for small businesses.

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Everything You Need to Know About Credit Card Processing

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Payment Processor: The credit card processing company handles the processing and batching of purchases made with credit, debit, or gift card payments. They typically assist with technology needs and customer service as well, acting as an intermediary to the card associations and banks.

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Mobile Credit Card Processing Explained: What Business Owners Need to Know

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What is mobile credit card processing? Mobile credit card processing refers to the capability of accepting credit card payments using a mobile device equipped with a card reader and specialized software. Popular mobile payment solutions include Square, PayPal Here, and Shopify POS.

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What Is Tiered Pricing in Credit Card Processing?

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Accepting credit card payments at your business is a surefire way of increasing customer satisfaction and retention. Over 80% of American adults owned at least one credit card in 2023. Also, credit cards contributed to 27% of the spending at point-of-sale (POS) systems worldwide.