Payment Gateway –
An Internet-based service that transmits credit card data from a website to a separate credit card processor, where it is then verified.
Payment Processing Solution –
A payment processing solution is any mechanism that allows a card-carrying consumer to pay a merchant or retailer for a product or service.
PCI Compliance –
PCI (payment card industry) Compliance refers to the set of standards developed by the Payment Card Industry Security Standards Council and includes 12 requirements related to card security and protecting consumer information.
An individual or business that sells products or services and is able to accept payment from a cardholder in exchange for providing these products and services.
An act between a merchant and a consumer that results in either an exchange of cash or an electronic representation of the customerâ€™s guarantee to pay for products or services received.