| IMD |
| Page: Definition Payment Processor |
Payment Processor (Payment Gateway):
A Internet service which
acts as a link between the online seller and the online buyer
making the online transfer of money possible. Payment Gateways
are financial institutions distinct from banks which process
credit card transactions, handle the authorization, clear
refund requests and take care that funds are rightfully
exchanged between the seller and the consumer.
There are Payment
Processors like
Clickbank,
2Checkout,
Paydotcom and others which
even take care of the correct distribution of funds when
affiliates
are involved in the selling process and need to be
paid with their commission.
Using a Payment
Processor with high reputation is the easiest way for an
Internet marketer to sell his product
s online
and make sure that the money arrives on his bank account. When
he has something to sell he just needs to run through a short
set-up process with the company he trusts and he doesn’t need
to worry anymore about correct payment processing or that his
affiliates are rightfully paid.
The Payment Processor will include a payment button on his sales page that is linked to it’s secure payment form, accept the money, directs the customer to the download page after full payment is verified and pays the seller and the affiliate.
images/PaymentProcessor%20650.jpg
Payment Button on a Sales Page. Clicking it leads to the secure
site of the Payment Processor where the payment details can be
entered
images/PaymentProcessor1%20650.jpg
[Payment (from Pay) comes from Latin pacare = to please, satisfy, pacify and is akin to peace (Latin pax );
Processor
comes from
Latin processus,
procedere
= to go forward, advance;
Gate
comes from Old English
gæt
= opening, passage;
Way
comes from Old
English weg
, akin to
Latin vehere
= to
carry]
