People often confuse a
payment processor with a payment gateway and vice versa when they have to set
up payment modules. The confusion is obvious for various units are involved in the process. When understood
carefully, however, the two terms exist independently with either having its
significance!
Difference between Payment processor and Gateway
A Payment Processor
A payment processing company
or processor represents various payment processing payments. It functions as a
middleman, connecting website holders with gateways and banks. The website
owner needs to send the processor an application with their credit history and all
required product details.
A Payment Gateway
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