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</vc_column_text] Several terms are often used interchangeably when describing online payments. Integrating a payment gateway into your website, application, or system allows customers to complete payments for products and services. These include:

• Payment gateway
• Payment processor
• Payment provider
• Payment service or payment system
• Merchant account

Though they differ in subtle ways, these terms all refer to an organization, service, or application that acts as an intermediary between your website, your client, and your financial accounts. Each facilitates online transactions and the processing of online payments.
</td_block_text_with_title] A payment gateway is a service that receives the online payment request from your site and forwards it to the payment processor.
</td_block_text_with_title] A payment processor is a service that validates the buyer’s credit card details and checks whether sufficient funds are available in their account to cover the payment. If the client has enough funds, the transaction is approved, and the funds are transferred from the client’s account. The transaction status is then sent back to the payment gateway, which communicates the result to your site.
</td_block_text_with_title] When a payment provider offers various types of payment gateways with different features and pricing, it is referred to as a payment service or payment system.
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