Before we begin, there are some definitions related to online payment systems.
ACH payments are electronic loan and debit transfers that allow customers to pay utility, mortgage, and other types of bills from their bank accounts. ACH stands for Automatic Bill Exchange, and most payment processors offer customers ACH payment options, especially for monthly and subscription-based transactions. Most payment solutions use ACH to send money to customers.
A merchant account is a bank account that allows customers to receive payments by credit or debit card. Merchant suppliers must comply with credit card association regulations. Many processors, such as those listed below, are both merchant accounts and best payment gateway for ecommerce.
Payment gateways allow merchants to securely use card information between customers and merchants, merchants and payment processors. The payment gateway is the middleman between the business and the sponsoring bank.
A payment processor is a business that processes credit card transactions. Payment processors take anti-fraud measures to ensure front-office customers and businesses are protected.
pCI compliance refers to a merchant or payment gateway setting up the payment environment in a manner that complies with the Payment Card Industry Data Security Standard (pCI DSS). The pCI DSS standard was developed by the Payment Card Industry Security Standards Council to improve the security of cardholder data and reduce fraud.