What Is a Third-Party Payment Processor?

A third-party payment processor is a provider that allows a business to accept payments without opening its own merchant account, a bank account needed for holding money earned from card payments. These processors generally offer fast setups, charge flat-rate fees and process transactions from several merchants into shared merchant accounts to reduce operational costs. » MORE: How to…

https://www.nerdwallet.com/article/small-business/third-party-processors

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