What is a payment processor? Who moves a card payment
By SendPay Business · · 2 min read
- 1Your card appears in your app
- 2Tap it to pay in a shop
- 3See every payment as it happens
A payment processor is the company that carries a card payment's details between the business, the card scheme and the banks. It gets the payment approved or declined in seconds, then makes sure the money is settled to the business later.
Where it sits
- The gateway collects the card details securely at checkout.
- The processor sends them through the card scheme to the customer's card issuer.
- The issuer approves or declines, and the answer comes back the same way.
- Later, the processor and acquirer settle the money to the business.
Processor, gateway, acquirer
The gateway is the front door, the processor moves the messages, and the acquirer is the bank that holds the merchant relationship. Many providers bundle all three, so a business often only deals with one company.
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Questions people ask
What is an acquiring bank?
The bank that receives card payments for a business.
What is an acquiring bank? →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.