https://paymentprocessingtips.com/2020/03/02/what-to-look-for-in-payment-processing-services

An online payment processor is a product that acts as a middleman between your business’s website and the customers you serve. This service allows you to accept debit and credit card payments from your customers, and then transfer the money to your business’s bank accounts for deposit. Whether you’re selling digital products, accepting donations or registrations for events, or offering subscription-based services, having the right payment processing system in place will allow you increase your customer base and increase sales.

The process of accepting online payments begins when your customers enter their payment details, usually through a form on your website or mobile app. The form will ask for names, email addresses credit CVV number, card number expiration date and any other pertinent details. The payment processor will verify that the customer has sufficient funds to make a purchase and then authorizes the transaction. If the transaction isn’t authorized, the buyer will be notified via email that informs them of the reason for the error and offers them the chance to try again or choose an alternative payment method.

When choosing an online payment processor, choose 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 if the provider offers a wide variety of payment options, including alternative QR codes, credit cards as well as PayPal. It is also important to select an option that will allow you to support your international operations. This will allow you to expand your reach to new markets and increase conversions across a global customer base.