https://paymentprocessingtips.com/2021/07/08/generated-post/
If you’re a company that accepts credit and debit card transactions online, you need to choose the right payment processor. An online payment processor will handle the transactional burden that includes everything from capturing the sale, to sending you a billing statement and working with your bank to ensure you get paid.
If a customer purchases something on your website or in person at a brick-and-mortar store their credit or debit card data goes through a payment gateway or PoS terminal. The gateway secures the information to protect it and sends it to the payment processor who then transmits it to the card network of the customer. The card network checks with the customer’s bank to determine if there is enough money in the account to cover the product. If the bank approves the purchase then the card issuer will transfer funds from their account to the bank of the merchant. The payment processor will then transmit this information to the merchant’s website or PoS terminal and inform the customer that their payment was successful.
When choosing a processor, be sure to consider security and ease of use and compatibility with existing systems. Find a solution that provides APIs and plug-ins to seamlessly integrate with your e-commerce platform or POS system. Also, you should evaluate the checkout experience of your customers and your team’s reporting and management experience. Not least, ensure you understand the contract and how it is easy to change providers in the future.