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Payment Gateway vs Payment Processor: What You Need to Know

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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 Canadian Merchants Need to Know About International Payment Processing

Clearly Payments

From selecting a compatible payment processor to navigating local regulations, each decision can significantly impact customer experience and business success abroad. Selecting the Right Payment Processor Choosing the right payment processor is foundational to expanding internationally.

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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. Security and Fraud Detection : The BIN can provide valuable data points that help prevent fraud.

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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. A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks.

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The Ultimate Guide to Ecommerce Payment Solutions

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Payment processor – Handles the technical aspects of the payment. The details are then encrypted and transmitted to a third-party payment gateway for authorization. Payment processors that comply with this regulation protect businesses from data breaches and credit card fraud. Do you process international payments?

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The Anatomy of a Credit Card Transaction

Clearly Payments

From the cardholder to the merchant, and all the way through the financial institutions and payment processors, each participant brings something essential to the table. Payment Processor Facilitates communication between acquiring and issuing banks. Payment Gateway Secures transaction data and transmits it to the payment processor.

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Credit Card Payment Integration: How to Integrate Payments into Your Website and Point of Sale

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TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. The data is then submitted to a payment processor, which directs the payment to a credit card interchange. Need to integrate payments?