A service that acts as an intermediary between your website and your customers is known as an online payment processor. This service enables your business to accept payments made by credit or debit card from your customers and then deposit the funds into your bank account. If you are selling digital products, accepting donations for events or event registrations or providing subscription-based services choosing the appropriate payment processing software will allow you to expand your customer base.

Your customers input their payment information into an online form, typically on your mobile or website application. The form will ask you to enter your name, email address credit card number, CVV and expiration date. The payment processor will then check to see if the customer has enough money to make the purchase and will then authorize the transaction. If the transaction isn't authorized, the buyer will receive a message that informs them of the reason for the error and provides them with the option to try again or select another payment method.

When choosing an online payment processor, pick one that is compatible to your existing point-of-sale (POS) system. Also, look for an option you can integrate directly into your website. Find out if the service offers a wide array of payment options, including alternative credit cards, QR codes, and PayPal. It is also recommended to choose a service which can support your international operations. This will help you reach out to new markets and increase the number of conversions to global customers.