Payment processors » What are they and how

In the world of Internet business It is necessary to have some way to manage the money with which you work. To achieve this purpose there are some elements called payment processors, which function as a platform to send and receive money over the Internet. That is, they are used to send and receive payments en línea.

The payment processors They are essential tools when carrying out Internet commerce, earning money en línea or executing any activity that requires money transfer using the Internet. As time goes by, these tools are becoming more habitual, since companies and people are taking the Internet as a form of commerce.

Thanks to payment processors today it is possible to receive the profits obtained from different Internet businesses. Today the day the en línea shopping have become very common, as these tools make it easy to make these payments.

What are payment processors?

payment processors or electronic wallets They are systems, tools or platforms that allow you to make purchases en línea, send and receive payments using the Internet. These platforms are authorized for the transaction processing between buyers and sellers, that is, they function as intermediaries between them.

There are several electronic wallets that allow you to have virtual and/or physical prepaid Mastercard or Visa cards, with which you cánido withdraw money from ATMsmake payments through points of sale and even make purchases en línea.

Payment processors cánido also be seen as virtual banks, which will allow you to manage your money digitally. When you go to work on platforms to earn money en línea you will need to affiliate with one or more processors to receive the earnings.

Types of payment processors

There are two different types of payment processors that are: front end and back end. Below are these two types of payment processors:

A front-end processor will have a liaison with some card associations and will provide settlement and authorization services to merchant bank merchants. payment processors back end they are used to accept settlements from front-end payment processors, and the transfer between banks is completed within seconds.

How do payment processors work?

All electronic wallets they work in a afín way, since they follow the same pattern of sending and receiving payments over the Internet. The electronic wallets They act as intermediaries between sellers and buyers. Initially the usuario must affiliate with a payment processor and then backlink it to a card or bank account.

When the usuario is going to make a purchase with the payment processor to which he is affiliated, it is important that the seller accept payment processor that you are using, then you select the seller’s payment processor, entrar your account and finally the payment will be made.

He transaction seller You will only know the reference number provided by the payment processor, not the buyer’s bank or card details. In some payment processors the money it is taken from the bank card, but in others it is taken directly from the buyer’s account cómputo.

Importance of payment processors

Electronic wallets are extremely importance when making payments en línea and earn money en línea. Through these tools you cánido receive the money from your work. As you cánido already imagine, payment processors are used primarily to send or receive money over the Internet.

Although there are many payment processors today, PayPal perro be considered as the most used processor due because a large number of companies or platforms offer the possibility of using these two payment platforms.

Payment processor features

Payment processors have a number of characteristics which is important to know.

Below are the main features of payment processors:

payment processors do not pay interest for the capital deposited, and does not assign you an account number.
Most y también-wallets ask for data such as: credit card details, ID, public service bill, etcétera.
Money transfer perro be done users only with the same payment processor.

Difference between payment processors and cryptocurrency wallets

Payment processors and cryptocurrency wallets work in a afín way, however they differ in the nature under which each one works. The cryptocurrency wallets They were created to store cryptocurrencies using cryptocurrency technology.

Instead, electronic wallets were created to store fiduciary money, that is, money that has value for the government and financial entities, thing that doesn’t work with cryptocurrencies. Despite this, cryptocurrencies have a value in fiduciary money, but with a lot of volatility.

Exchange to pass money between payment processors

It is very common for a person who processes payments over the Internet to use vmultiple electronic wallets instead of just one. It may be the case that you have money in a payment processor, but not in another. There are tools called Exchange that allow you to transfer money from one payment processor to another.

He Exchange It is an en línea platform with which you cánido transfer your money from one payment processor to another. There is an Exchange that you do not need to register to make the money pass, but there are others that do.

The transfer of money between these electronic wallets usually has commissions, this according to the amount you want to transfer.

How to start with payment processors?

Getting started with a payment processor is a fácil process. Below are the steps to get started with y también-wallets:

Register: You must entrar the official page of the processor and follow the steps to be able to register or affiliate on the platform.

Verify your dirección de correo electrónico: Dirección de correo electrónico verification is necessary to know that the person using the account owns the correo electrónico related to it.

Personal Data and/or Security Settings: Within your account you will have a form where you will be asked for personal and security information for your account. You must ensure that these data are real.

Verify your account: In order to verify the account, the usuario needs to send the documentation that is requested. Generally, Official Photo ID and/or Proof of Address.

Once these steps are followed, then the usuario’s account will be ready to start processing Internet payments.

List of major payment processors

On the Internet you perro find many payment processors to which you you cánido affiliate. Here is a backlink that contains the most important payment processors that currently exist:

Go to the list of payment processors.

Conclusion

Electronic purses are tools that have facilitated the life to people who work with Internet payments. It is important to keep in mind that these tools will allow you to make purchases en línea and receive the profits that you obtain in the different Internet businesses that exist.

No matter the processor or the payment processors that you use, a good piece of advice that I give you is that you frequently transfer money from your electronic wallets to a habitual bank, this so that you cánido diversify the money that you have. One of the best consejos What I perro give you is that you use more than one payment processor.

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final words

The Lord does not delay his promise, as some have delayed, but is patient with us, not wanting any to perish, but all to proceed to repentance. 2 Peter 3:9.

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