https://paymentprocessingtips.com/2019/11/15/security-and-payment-processing-services/
An online payment processor is a service that acts as a middleman between your business’s website and customers. This service lets you accept debit and credit card payments from your customers, and then transfer the funds into your business’s bank accounts for deposit. It doesn’t matter if you’re selling digital items or accepting donations, event registrations, or offering subscription-based services, having the appropriate payment processing solutions in place will help you to grow your customer base and increase sales.
The process of accepting online payments starts when your customers enter their payment details, typically via the form on your website or a mobile app. The form will ask for an email address, name credit CVV number, card number expiration date and other relevant details. The payment processor will verify that the buyer is able to complete the purchase and will then authorize the transaction. If the transaction isn’t approved, the purchaser will receive a message which informs them of the reason and gives them the opportunity to try again or select an alternative payment method.
When choosing a payment processor, make sure you choose one that works with your current point of sale (POS) system or offers a solution that can be integrated directly into your online site. Check that the provider has a variety of payment options, such as alternative credit cards or QR code transactions as well as PayPal. You should also choose an option that will allow you to support your international operations. This will allow you to expand your reach to new markets and increase conversions across a global customer base.