Globalisation and digitalisation are moving forward at warp speed, bringing eCommerce to a new level. Online businesses sell their products and services worldwide, regardless of borders, time differences, and preferred payment options. The digital payments sector is keeping pace with the transformation and offers tools to ensure frictionless processing of transactions all over the world.
There are three main powerhouses that help money reach its payees: payment gateways, payment processors, and merchant accounts. Orchestrating the whole process might be a challenging task — customers use credit and debit cards, different currencies, including digital ones, and other options. A payment management system allows for monitoring business with several storefronts and managing its financial flows via a single access point.