A credit card processor is a company that handles credit card transactions for merchants. In an operation that usually takes a few seconds, the payment processor checks the card details by forwarding them to the respective card’s issuing bank or card association for verification, and also carries out a series of anti-fraud measures against the transaction. Additional parameters, including the card’s country of issue and its previous payment history, are also used to gauge the probability of the transaction being approved. Once the payment processor has received confirmation that the credit card details have been verified, the information will be relayed back via the payment gateway to the merchant, who will then complete the payment transaction. If verification is denied by the card association, the payment processor will relay the information to the merchant, who will then decline the transaction.
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