Processor Definition.
A technical provider that processes transactions on behalf of an issuer (issuer processing: authorizations, card portfolio management, card blocks) or an acquirer (acquiring processing: acceptance, clearing, disputes). Examples include Worldline, Fiserv, Global Payments, and Marqeta for next-generation issuing. The Interchange Fee Regulation requires schemes to separate their processing activities.
See also
Where this term appears
GuideThe four-party modelGuideThe role of banksGuideMerchant, acquirer, PSPGuidePayments in the BalkansGuidePayments in Central and Eastern EuropeGuidePayments in FranceGuidePayments in Greece, Cyprus, and MaltaGuidePayments in Spain and PortugalGuidePayments in ItalyGuidePayments in Ukraine and the CaucasusGuidePayments in Argentina, Chile, and UruguayGuidePayments in the US