A payment processor is a service that manages transactions for your clients and makes it possible for them to purchase your goods and services.It communicates the cardholder payment data to the issuing and acquirer banks.
What is Payment Gateway?
A payment gateway, on the other hand, sends the payment information to the processor. It links the merchant account, card issuers like Visa or MasterCard, and the payment processor.
Difference between Payment Gateway and Payment processor
Payment gateways can be connected to your eCommerce store or business accounting software.
Online payment processing is made simple by integrating a payment gateway.
Your firm can accept credit cards thanks to the merchant account that the payment processor will set up.
Using a payment processor guarantees that credit card transactions will be funded properly.
To Know More About Payment Processor And Payment Gateway