Payment Processor/ Payment Facilitator

 An entity which is authorised to process Transactions between Customers and Merchants.

How does Payment Processor work?

Payment Processors enables Merchants to receive Debit or Credit Card payments by providing a connection to the Acquirer. Apart from it, Payment Processors perform many functions such as establishing the validity of the transaction, checking whether they are approved, using anti-fraud measures to assure that a Transaction is initiated by the Customer which it claims to be. Payment Processors function as intermediaries in the execution of Transactions and help funds to flow from Issuers to Merchants.

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