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Payment processor: Definition, types, and examples

Payrix

To operate as an integrated software vendor (ISV) or payment facilitator, a software company requires a relationship with an acquiring bank and a payment processor. A cardholder initiates the payment for a purchase or service to the merchant or service provider with their payment information from a credit card, debit card, or bank account.

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Payment processor: Definition, types, and examples

Payrix

To operate as an integrated software vendor (ISV) or payment facilitator, a software company requires a relationship with an acquiring bank and a payment processor. A cardholder initiates the payment for a purchase or service to the merchant or service provider with their payment information from a credit card, debit card, or bank account.

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Master merchant: Definition, types, and examples

Payrix

This setup is commonly used in marketplaces, software platforms, or businesses that facilitate payments for a network of sellers, service providers, or smaller businesses. Access to technology: sub-merchants benefit from an integrated payment solutions, such as point-of-sale systems or online payment gateways, provided by the master merchant.

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Glossary: 117 software-led payments terms to know

Payrix

Association Group of card-issuing banks or organizations that set common transaction terms for merchants, issuers, and acquirers. Card brands Member-based corporations that connect consumers, businesses, and banks through electronic payments; establish and enforce rules amongst members; and promote the brands (e.g.,