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What is online payment processing?


Online payment processing refers to purchasing goods and services over the Internet, typically using a credit card, with the financial transaction processed electronically in real time. The standard path of implementation involves obtaining an online merchant account for a particular credit card from a bank, selecting a payment gateway that will process the credit card information, and integrating your website with this payment gateway. Throughout this document, the terms payment processor and payment gateway will be used interchangeably, though payment processors often imply a direct relationship with a bank or financial institution. There are numerous variations on this model, such as a single company providing all financial services. As with other aspects of business, we suggest leveraging your existing relationships first. If you have dealt with a particular bank for years approach them with your online requirements, as they may offer attractive rates or streamline the startup proc

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