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Payment Gateway vs Payment Processor: What You Need to Know

Stax

A payment processor and payment gateway are both crucial components in transactions, as they enable the various ways that shoppers want to pay. TL;DR A payment processor is a provider that handles transactions between a buyer’s bank and a seller’s bank. That being said, they serve distinct roles in facilitating payments.

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What to Know About Tokenization

Basis Theory

Historically, data security has been treated as featureless and burdensome—but a necessary expense incurred by organizations. Today, we can tokenize anything from credit card primary account numbers (PAN) to one-time debit card transactions or social security numbers. Return to Top Why use a tokenization platform?

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What is a BIN in Payment Processing

Clearly Payments

For payment processors and financial institutions, however, understanding BINs is essential for smooth transaction processing, security, and even risk management. Routing : The payment processor routes the transaction request to the appropriate issuing bank for authorization.

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What is a Payment Processing System and How Does It Work?

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Well also look at key features of a payment processor to help you choose the right one for your business. It ensures the secure transfer of funds from a customer to a merchant via their preferred payment method. Payment processor – The company managing the transaction process.

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The Ultimate Guide to Ecommerce Payment Solutions

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The customer enters their payment details and the gateway securely transmits the data to the network. Payment processor – Handles the technical aspects of the payment. Theyre easy to integrate and set up, with the host taking care of data security measures, including PCI compliance and fraud protection.

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Looking for the Best Payment Gateway? Here’s How to Choose the Right One

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To accept electronic payment methods fast and securely, you need a payment gateway. Instead of juggling through different types of payment processors and platforms, a payment gateway allows you to accept multiple payment methods at once. Today, many payment gateways work as payment processors.

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Accepting Online Payments with Internet Merchant Accounts

EBizCharge

It serves as an intermediary between a merchant and a payment processor, facilitating the transfer of funds during online transactions. This number helps payment processors and banks identify the merchant and track payments accurately. This integration ensures a seamless and secure transaction flow.