Payments & Banking
Payment Processor
A company that handles electronic payments between a payer and the recipient's bank account.
A payment processor (such as Stripe) authorizes, clears, and settles card and bank payments, moving money from the payer to the recipient. Dues platforms build on top of processors to add reminders, tracking, and reporting. The processor's fee is separate from any platform fee — Dueflow absorbs platform costs and passes only the processing fee to the member.