What is a Bitcoin payment processor?

A Bitcoin payment processor is a service that facilitates the use of Bitcoin as a means of payment for goods and services. The processor performs a variety of functions, such as accepting payments from customers, exchanging the Bitcoin to local currency, and transferring the funds to the merchant’s bank account.

The processor also helps to protect the merchant from the volatility of Bitcoin exchange rates and helps to ensure that the merchant receives the correct amount in the correct currency. The processor may offer additional services such as customer support, fraud prevention, and transaction monitoring.