(A) Second-party payment processing
(B) Third-party payment processing
(C) External payment processing
(D) Internal payment processing
If you are redirected to a separate website for payment when you click the Checkout button on an e-commerce site then this payment system is called Third-party payment processing. A third-party payment system can help you receive money from customers without having to create a merchant account. So, if you are the owner of an e-commerce site and don’t have a merchant account then you can use a Third-party payments processor.
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