Guide to Payment Processors

Chargeback Gurus' Audio Blog

English - April 23, 2021 20:00 - 8 minutes - 5.55 MB
Business News Business News chargebacks fraud ecommerce payments Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: Avoiding Clean Fraud

Next Episode: Avoid Chargebacks Using Fraud Filters

To thrive in the interconnected world of ecommerce, merchants can't just handle everything on their own. Partners and vendors provide merchants with their network connections, web hosting, and many other specialized services—such as credit card processing.

Every day, merchants rely on their payment processors to make it possible for them to accept the card transactions that make online shopping possible. Your relationship with your payment processor is an important one, and it can have a big impact on your bottom line. What do payment processors really do, and how can you choose the best one for your business needs?

In both card-present and card-not-present environments, making a credit card payment has become a swift and seamless process. The customer provides their card information, the transaction is authorized, and payment is complete. It all transpires within a matter of seconds, despite the fact that quite a lot of behind-the-scenes communication is happening to make sure everything is carried out properly.

While there are many entities involved in every credit card transaction, the payment processor does a lot of the heavy lifting. Payment processors make their money by charging fees for the transaction activity they handle—including chargebacks, which are detrimental to the overall payments ecosystem and can have a negative impact on everyone involved in them.

Full Text:
https://www.chargebackgurus.com/blog/payment-processors