Glossary

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Payment processor

A payment processor is a company that organizes the process of receiving, processing and transferring payments between merchants and their customers. For processing payments, payment providers provide special software – a payment gateway.

The payment processor performs the following functions:

• Provides merchants with a payment gateway, thus providing the ability to accept payments;
• Provides a secure channel for transferring payment data;
• Guarantees protection against fraudsters;
• In the event of chargebacks, the payment provider will dispute them;
• Connects various payment solutions:
  • Mass payments;
  • ACH payments;
  • Recurring payments;
  • MO / TO payments.
• Provides technical support to its customers.