An Overview of Payment Processor And The Process Involved Payment processoralso known as a third party company performs credit card transactions for the vendor acquiring banks. This is mainly used of the processing of credit cards. Credit cards are the one which are provided by the banks to its customers. Credit cards are used to do online shopping, paying bills online etc. Payment processor for a transaction will verify the details that it receives by sending those details to the issuing bank. Subsequently, it will take some anti-fraud measures so as to safeguard the transaction. It will also check for …