Advertisement
Home » Vocabulary » Payment processor
Thing

Payment processor

A payment processor is a company (often a third party) appointed by a merchant to handle credit card transactions for merchant acquiring banks. They are usually broken down into two types: front-end and back-end. Front-end processors have connections to various card associations and supply authorization and settlement services to the merchant banks’ merchants.

WELCOME TO RICHTOPIA

FREE MEMBERSHIP

Get special new reports and never miss an update again ...

  • 2,425,408 all-time users
Advertisement
As Seen On Forbes
Advertisement