Roqqett Blog

September 4, 2023
Author: Alexandra Hurst

Online payment processors

Everything you need to know about payment processors and how they work.

Quick Summary

  • The payment methods you are likely to encounter 
  • What is a payment gateway?
  • How does a Payment processor work?
  • Payment processor vs payment gateway 
  • Who should I use?


If you are setting up an online store or e-commerce website, you have to know about different online payment systems. Selecting the right method will depend on your business type, and what appeals best to your customers. The more options you have, the greater success you can expect, as you’ve given your customers options. 

Payment Methods

1. Credit /Debit card payments 

Credit/Debit card payments are the most commonly accepted payment method. By taking card payments you open your business up to an international market. Cards are also considered secure, and private. Users of card payments tend to be those who are most financially secure and aware. 

2. Prepaid card payments 

This is an alternative to typical card payments, although currently not widely adopted. Prepaid payments are making a comeback with niche categories. 

3. Bank transfers 

This type of payment is definitely declining. Purely because it is less convenient for customers. It’s considered a ‘last resort’ payment method.

4. E-wallets 

This is a new and trending payment method, as it is both easy and fast. Involving a one time registration which then allows a customer to buy items with FaceID or fingerprint authorisation.  


5. Cryptocurrencies 

Although not widespread, crypto payments are on the rise within the gaming industry and genZ. So watch this space. 

So you now know all of the main payment types.

But how do you take a card payment?

We focus on card payments because it’s the most common and versatile. But to take a card payment you need a payment processor...

...SO what is a payment processor 

A payment processor is a tool to be able to accept online payments. It connects the merchants and the bank of the customer. It authorises and transfers the funds on time. 

How does a Payment processor work?

When a customer pays for an item to purchase it, the payment processor authenticates or denies the transaction. If the payment is approved, the payment information will be sent to the merchant’s bank account. If the payment is denied, the payment processor will reject the transaction. 

But, then what’s a payment gateway?

A payment gateway is the portal which allows the payment processor to connect both merchant and customer. In short, to complete an online transaction you need both a payment gateway and payment processor. 

So, who should I use as a payment gateway / payment processor? 

If you are looking for a payment gateway, look no further. 

In short, Roqqett is recommended by various businesses, click here to demo our checkout and start your journey to experience the following benefits:

Roqqett Benefits: 

  • 93% faster than other checkout methods.
  • No chargebacks, competitors to Roqqett have chargebacks that cut into your profit margins. 
  • A seamless experience: Roqqett remembers the customer’s details, (card numbers, addresses and contact details) which leads to fewer clicks and potential basket abandonment. 
  • Secure: SCA compliant, no need to get a third party to authenticate transactions. Roqqett has bank-grade security.  With face identification to authenticate purchases.
  • Automatic reconciliation of payments and notifications, which ultimately reduces manual overhead and allows automation of back-office processes and logistics.


Explore the Roqqett Range


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