Payment processors are a one-stop-shop, providing a whole range of payment solutions. They provide advice and support for merchants in selecting and implementing the right payment methods for both e-commerce and in-store retail. A payment processor's portfolio also contains services for fraud prevention or risk management to ensure secure payment for e-commerce and m-commerce, as well as point of sale (POS) transactions.
The range of payment methods offered by payment processors encompasses all standard payment methods:
Integrating new payment methods without the support of a payment processor is an extremely complex task for merchants, as it requires gathering quotes from the various payment method providers and attending to a large number of contract documents. Providing an adequate selection of payment options means that the number of contacts, and indeed contracts, to be dealt with rapidly stacks up.
Payment processors offer merchants an optimal mix of payment methods individually tailored to their requirements. The number of contacts is limited to a single specialist at the payment processors, who advises the merchant in selecting the right payment methods and provides support in implementing them. A payment platform which combines the numerous payment methods and additional services, such as fraud prevention and risk management, makes it easier to connect to new payment types and online shopping services.
And to top it all off, payment processors also offer additional services for simple and secure payment transactions: