Payment Gateway vs Payment Processor
S No. | Payment Gateway | Payment Processor |
---|---|---|
1. | It is an assistance that accepts or declines the transaction between the customer and the website that is using the gateway. |
It is an institution that facilitates communication between the bank of the customer and the website from which the customer is purchasing. |
2. | Accepting online payment becomes easier by integrating a payment gateway. | It ensures direct fund transfer between a customer’s bank account to a merchant bank account. |
3. | It checks the customer’s account number and authenticates it if there is any issue or not. | It moves the data from the payment gateway to the network of the card and also checks the validity of the card. |
4. | It is integrated into the business website where the customer will make payments authorizing the process of credit cards within the software directly. | It ensures actual funds on transactions over credit cards. |
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