Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Credit card processor
A credit card processor is a service provider that handles approval and booking requests on behalf of an issuing bank, manages merchant or card accounts, and monitors credit limits.
Transaction processing
A credit card processor is absolutely necessary for credit card payments for the technical processing of the transaction. Some credit card companies are also processors, and some have completely outsourced transaction processing. Atos Worldwide and Global Payments are credit card processors that offer a variety of processing services to the credit card company.
The tasks
The processor handles the processing of transactions and provides the technical basis for this. It monitors the authorization and credit limit of customers and merchants. He is also responsible for the security of payment transactions in order to prevent misuse.