Remove Financial Institution Remove Mediation Remove Sale
article thumbnail

What are export payments and how to choose the right one for your business?

Razorpay

Wire transfer: Typically processed by banks or financial institutions through a secure and networked system like SWIFT (Society for Worldwide Interbank Financial Telecommunication), it is the most preferred method for cash-in-advance.

article thumbnail

What Is a Payment Processor? Meaning, How It Works, and Example

Razorpay

A payment processor is a financial service provider that enables businesses to accept and process customer payments securely. From a merchant’s perspective, a payment processor is an intermediary between your website or point-of-sale system and the customer’s bank.

IT 52
article thumbnail

Payment Gateway vs Payment Processor: What is the Difference?

Razorpay

Use Acts as a terminal for card validation and fraud prevention Acts as mediator between merchants and financial institutions to facilitate credit card transactions. They serve as a go-between for the merchant and the financial institutions concerned. This widens their reach and makes contributions more accessible.

Banking 52