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What is a Payment Processor?

Whether a transaction originates online or in person, completing it safely requires connecting to and securely sharing data among merchants, banks and card networks. Payment processors are the technology companies that sit in the middle of this process.

Breaking Down the Merchant Onboarding Process

In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.

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Acquiring Bank vs Issuing Bank: What’s the Difference Between the Two?

The process of moving money from one party to another involves several entities, all with specific roles to play in moving the transaction along its way. Standing at either end of the transaction are two critical players – the acquiring bank and the issuing bank. What is the difference between the two?

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Breaking Down the Merchant Onboarding Process

In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.

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