An online payment processor is an online service that acts as a intermediary between your company’s website and your customers. This service allows your business to accept payments by credit or debit card from your customers and then transfer the funds into your bank account. It doesn’t matter if you’re selling digital items or accepting donations, event registrations, or providing subscription-based services, having the appropriate payment processing system in place will help you to grow your customer base and increase sales.

Your customers input their payment information in a form, usually on your website or mobile app. The form will ask to enter your name, email address the card number, CVV and expiration date. The payment processor will verify that the customer is able to make the purchase and will then authorize the transaction. If the transaction was not authorized, a message will be sent to the buyer stating the reason for the refusal and giving them the opportunity to try again.

When selecting an online payment processor, select one that is compatible to your current point-of-sale (POS) system. Or look for an option you can integrate directly into your website. Verify that the processor offers a wide range of payment methods, including alternative credit cards, QR code transactions and PayPal. It is also important to select the right service that will support your international operations. This will allow you to reach out to new markets and increase conversions across a global customer base.

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