Think of the gateway as a messenger taking information, ensuring it’s correct, and delivering it to the processor, who then acts as IT to make sure money goes where it needs to be.
In some cases, the same provider is both the gateway and the processor, but you might also use a different service for each part of the transaction.
3) Merchant accounts: Receive bolivia telegram screening funds
Your merchant account is essentially the business bank account you’ve set up to receive funds for ecommerce payments.
What is a merchant account
You can also send payments from a bank account, and you may use this one that way, too — but for the purposes of discussing ecommerce payment processing, we’re looking at the merchant account as a place that receives funds.
We’ve covered the three main components of ecommerce payment processing, so now we’re ready to walk through everything that happens during a standard transaction. Here’s a step-by-step overview.