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The Ultimate Guide to Online Payment Processing

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Now that we have established all the players and platforms involved in the online card payment process, here is a high-level breakdown of the steps involved in the transfer of the funds from your customers bank account to your business bank account. Some payment gateways use tokenization to secure sensitive customer details.

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What is a Payment Service Provider (PSP) and How Do They Work?

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For example, the charges for a credit card payment online will be different from the charges for an in-person credit card payment. Also, the processing rates for a debit card payment will be different from the processing rates for an ACH transfer.