What is the payment engine?

The Payment Engine generates and processes TARGET2, Instant Payment and SWIFT as well as SEPA ISO 20022 message formats. PASSmultiPay Payment Services

What is an open API payment engine?

Banks and companies can seamlessly integrate the payment engine into their business processes via an open API architecture. The payment system handles the entire payment process. The goal is to create a payment platform with which the user banks can provide a wide variety of products and usage options.

What is a payment processor & how does it work?

A payment processor is a system that allows for transactions to happen between merchants and consumer banks. As the name implies, it processes credit and debit card payments based on the requests it receives through the gateway. Payment processors authenticate the transmitted information to confirm that it is valid with all of the banks involved.

What is a payment gateway?

Payment gateways are a service that helps merchants initiate ecommerce, in-app, and point of sale payments for a broad variety of payment methods. The gateway is not directly involved in the money flow; typically it is a web server to which a merchant's website or POS system is connected.