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Processor Integration
Terms
- What is a cross-border payment?
- Cross-border payments are financial transactions where the payer and recipient are located in different countries, requiring the transfer of funds across international borders and often involving currency conversion. These transactions encompass everything from individual remittances to large-scale corporate transfers, facilitating global commerce and personal financial connections across geographic boundaries.
- What is a payment gateway?
- A payment gateway is a secure technology that processes and authorizes online transactions by transmitting payment data between merchants, customers, and financial institutions.
- What is a payment service provider?
- A payment service provider (PSP) is a third-party company that enables businesses to accept electronic payments by connecting merchants to payment networks, banks, and card schemes through a single integration.