Payment processors and facilitators.
What is a payment processor?
A payment processor acts as a kind of mediator between the merchant and the merchant card acquirer, communicating the information from your customer’s card to yours and your customer’s banks. If the funds are available, the transaction is approved and put through.
What is a payment facilitator?
A payment facilitator gives merchants the ability to accept credit and debit card payments via a payment gateway. Each payment facilitator is aligned with an acquirer, who acts as a sponsor bank to the card networks and card schemes (Visa, Mastercard and Amex).
Find out more about the card payment process.
Read our blog article to discover more about how card payment processing works, including the step-by-step transaction process detailing the 5 main stakeholders involved in card payments: the cardholder, the merchant/retailer, the merchant acquirer, the card scheme, and the issuer.