Payment Service Providers

Mikes Notes

Eventually, Ajabbi will need the services of a payment service provider.

"A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers."

"They often provide merchant services and act as a payment gateway or payment processor for e-commerce and brick-and-mortar businesses. They may also offer risk management services for card and bank-based payments, transaction payment matching, digital wallets, reporting, fund remittance, currency exchange and fraud protection. The PSP typically provides software to integrate with e-commerce websites or point of sale systems." - Wikipedia.


No comments:

Post a Comment