Legal Definitions from Termly’s Legal Experts

Payment Vendor

Payment vendor definition (noun)

A payment vendor, also known as a payment processor, is a third-party company that processes payments between businesses and customers. A payment vendor relays customers’ payment information, such as credit card information, to the merchant’s bank account.

Examples of payment vendors include PayPal, Stripe, and Apple Pay.

Appears in: Privacy Policies and Terms and Conditions

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