Online credit card processing is the process of taking card payments and converting them into digital cash. Merchants, payment processors, and banks all have a role to play in the process of taking card payments. But it’s not always clear who will become involved in the transaction, how much it will cost, or what the process will look like. Let’s take a closer look at what credit card processing is, the different types of credit card processing, and what you should look out for when choosing a credit card processing company.

Payment facilitators and processors work with different types of businesses. A payment facilitator offers certain payment processing services to businesses that need these services. A payment processor, on the other hand, works with different types of businesses and offers different payment processing services.