An online payment processor is a type of service that acts as a financial intermediary between your website and the customers you serve. This service lets you accept credit and debit card payments from your customers and then transfers the funds into your business’s bank accounts for deposit. If you’re selling digital goods or accepting donations, registrations for events, or offering subscription-based services, having the appropriate payment processing system in place will help you increase your customer base and increase sales.

Customers will enter their payment information into a form, usually on your payment processing types tips website or mobile application. The form will ask for an email address, name as well as the CVV number, card number expiration date, and any other relevant details. The payment processor will verify that the user is able to complete the purchase and authorize the transaction. If the transaction was not authorized an email will be sent to the customer stating why the transaction was not authorized and offering them the chance to try again.

When selecting an online payment processor, pick one that is compatible to your current point-of-sale (POS) system. You can also look for an option that you could integrate directly into your website. Check that the provider has a variety of payment methods, including alternative credit cards or QR code transactions as well as PayPal. It is also important to select one that can help you with your international operations. This will help you expand your reach to new markets and boost conversions across a global customer base.