Click here

payment processing

The term used to describe the process and service that automates payment transactions between the shopper and merchant. It is usually a third-party service that is actually a system of computer processes that process, verify, and accept or decline credit card transactions on behalf of the merchant through secure Internet connections.

See Electronic Shopping Carts & Payment Processing in Webopedia's Quick Reference Section.
Also see Credit Card Processing and Merchant Accounts on VendorSeek.com.



Top Terms

Connect with Webopedia

  • The Difference Between Adware & Spyware

    Not technically fitting into either the virus or spam category we have spyware and adware, which are growing concerns for Internet users.

    Read More »

Did You Know? Archive »

  • Quick Reference Archive »