https://paymentprocessingtips.com/2019/12/22/payment-company-today/

A service that acts as an intermediary between your website and your customers is known as an online payment processor. This service enables your business to accept credit or debit card from your customers, and then transfer the funds into your bank account. Whether you’re selling digital products or accepting donations, event registrations, or offering subscription-based services, having the right payment processing system in place will allow you grow your customer base and increase sales.

The process of accepting online payments begins when your customers input their payment details, usually through a form on your website or mobile application. The form will ask you to enter your name, email address, card number, CVV and expiration date. The payment processor will verify that the customer has enough money to make the purchase and will then authorize the transaction. If the transaction is not authorized then a message will be sent to the customer stating why the transaction was not authorized and giving them the chance to try again.

When choosing a payment processor, make sure you choose one that works with your existing point of sale (POS) system or offers an option that can be integrated directly into an e-commerce website. Be sure to check that the company offers a variety of payment options, such as alternative credit cards or QR code transactions as well as PayPal. It is also a good idea to choose a service that will help you with your international operations, since this will allow you to reach new markets and boost conversion among global customer bases.