Payment Processor
A company that handles the technical processing of card transactions between a business, the customer's bank, and the business's own bank account.
The payment processor verifies and routes each card transaction, deducts its processing fee, and deposits the net proceeds into the business’s account, typically within one to two business days.
Because processors maintain detailed, verified transaction records, a business’s processor is often the direct source lenders use to confirm card sales volume during underwriting for card-based financing products.
Related Terms
Related funding options
Ready to explore your funding options?
One application, matched to funding options across our lending network.