What’s a Payment Processor?

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Short Answer:
A payment processor is a company that processes the payment (usually credit cards) for your store.

Long Answer:
There are many types of payment processors, such as your bank that maintains your business account, PayPal or Google Checkout. A payment processor is needed for e-commerce shopping cart software in order to process your customers payment. PayPal and Google Checkout work for businesses that are in the beginning stages, but as your e-commerce site grows, you’ll want to transition over to a dedicated payment processor for fastest access to your money.

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