Everything You Need to Know About Payment Processors, you will find on this page. This is The Only Comprehensive and Comparative Analysis of the Online Payment Processors.

-Online payment processors are companies who offer businesses a way to accept and process credit and debit cards without dealing with each of the different card issuers directly. Consumers who open accounts with online payment services can deposit money into their accounts via credit cards or bank transfers and expect instant access to their accounts. The consumer uses the service to send or receive money to and from other members via electronic transfers.

-In other words: let’s say that you need to buy something on the internet or an internet auction. Maybe you need to pay some advertiser, or you need to send money electronically to someone with only an e-mail address. Do you give your credit card data and your personal data to everyone on the internet? No! You open an account with a 3rd party payment processor, you fund your account there and with that funds you can do virtually all the things mentioned above.

-Or let’s say you need to pay, 100 people from all over the word 1$. Do you send a check to all 100 all over the world? No. You fund a payment processor with 100 USD (plus some low fees) and you ask the 100 people to open an account there (if they don’t already have one) and collect the 1$ that you have sent to each one of them.

-What if you need to cash 100 payments of 3$? You go to the bank with each check and pay 2.5$ fees for every check? No. You ask them to fund your account at one of the payment processors you choose, collect from all of them, then you ask the payment processor for maybe a check of 300$ witch you will cash with maybe a 5$ fee from your local bank.