Do you know the difference between a payment gateway and a payment processor? If not, you’re not alone.
Many people use the terms interchangeably, but they’re very different things.
Payment gateways are secure systems that allow businesses to accept customer payments via credit card. They also support other major payment methods.
Payment processors, on the other hand, are companies responsible for sending transaction details. They transmit information between the customer’s card-issuing bank and the merchant’s acquiring bank.
Here at SeamlessChex, we use a proprietary Payment Gateway to process merchants’ eCommerce transactions.
In this blog post, we’ll discuss the differences between payment gateways and payment processors and what you need to know about each.
Let’s dive in.
The payment solution you use will depend on your company’s needs and the merchant account provider you choose. While payment gateways and payment processors are critical components for all businesses accepting credit card payments, they’re not interchangeable.
Ideally, your business should open a merchant account with a third-party processor that offers both services. Unfortunately, not all merchant account providers offer integrated Payment Gateways. With that in mind, it’s important to find a third-party processor who can offer both tools in a single dashboard.
If you want to build a successful, easy-to-scale company, choosing the payment solution that’s right for your business is a critical step. Here at SeamlessChex, we provide payment gateway services and payment processing, which allows us to meet all of your payment needs. We securely process all major payment methods, including the following:
No matter what you need, we’re here to help you build a streamlined, efficient business.
Contact us today to learn more about how Seamless Chex can support your business’s success.
