https://paymentprocessingtips.com/2021/07/08/generated-post-2/

An online payment processor is an online service that acts as a middleman between your business’s website and customers. This service allows your company to accept payments by debit or credit card from customers, and then deposit the money 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 solution in place will help you grow your customer base and increase sales.

Your customers will enter their payment information in an online form, typically on your mobile or website application. The form will ask to enter your name, email address and card number, as well as CVV and expiration date. The payment processor will check to see if the customer has sufficient funds to make an purchase, and then authorize the transaction. If the transaction isn’t authorized, the buyer will receive a message which informs them of the reason and gives them an opportunity to try again or select another payment method.

When selecting an online payment processor, make sure you select one that is compatible with your existing point-of-sale (POS) system. Or look for an option that you could integrate directly into your website. Look into whether the provider offers a wide range of payment options, like alternative credit cards, QR codes or PayPal. It’s recommended to choose a provider that will help you with your international operations, since this will allow you to reach new markets and boost the conversion rate across all of your global customer bases.