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These intermediaries include paymentgateways, independent sales organisations (ISOs), software companies, shopping cart platforms, and payment orchestration platforms. These entities now often serve as the first point of contact and integration for merchants, rather than just the banks acting as acquirers.
The paymentgateway connection will be responsible for transmitting your customer’s payment information between your own customer-facing platforms and your PSP and other relevant financial institutions. Basically, the difference between paymentgateways and PSPs is the extent of tasks they complete.
Issuing Bank: The bank or financial institution that issued the credit card to the cardholder. PaymentGateway: A service provider that facilitates communication between the merchant’s POS system and the acquiring bank’s payment processing system. Card Network (e.g.,
Competitive edge: Investing in innovative technologies and strategies secures a competitive edge and allows for swift adaptation to industry trends. Quick risk assessment and mitigation Managing finances inherently comes with risks, ranging from market volatility to creditrisks.
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