Third party payment processor
The third-party payment processor works in partnership with the acquirer to provide payment processing services to the merchant. The payment processor typically offers a secure, online payment back-end system that allows customers to make payments using various payment methods, such as credit cards and debit cards.
The acquirer contracts with the third-party payment processor to process payments and handle the associated risks, such as fraud prevention and chargeback management. The third-party payment processor typically charges the acquirer a fee for its services, which is a flat fee per transaction.