An online payment processor is an online service that acts as a intermediary between your business’s website and your customers. This service allows you to accept credit and debit card payments from your customers and later transfers the funds to your bank accounts for deposit. It doesn’t matter if you’re selling digital items or accepting donations, registrations for events, or offering subscription-based services, having the appropriate payment processing solution in place will allow you to grow your customer base and increase sales.

The process of accepting online payments starts when your customers enter their payment information, typically via a form on your site or a mobile app. The form will ask for your name, email credit card number, CVV and expiration date. The payment processor will confirm that the customer is able to complete the purchase, and then authorize the transaction. If the transaction was not authorized, a message will be sent to the customer, explaining the reason for the rejection and allowing them to try again.

When selecting an online payment processor, choose one that works with your existing point of sale (POS) system or offers an option that can be integrated directly into your online site. Verify that the processor offers a variety of payment options, which include alternative credit cards such as QR code transactions and PayPal. It is recommended to choose a provider that will support your company’s international operations, since this will help you enter new markets and increase the conversion rate across all of your global customer bases.

blog