Payment service provider: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
||
| Line 34: | Line 34: | ||
*[[Fintech]] | *[[Fintech]] | ||
*[[Information technology]] | *[[Information technology]] | ||
*[[Merchant]] | |||
*[[P2P]] | *[[P2P]] | ||
*[[Payment system]] | *[[Payment system]] | ||
Revision as of 09:05, 22 July 2019
Payment systems.
(PSP).
1.
Defined broadly, a payment service provider is an organisation that:
- provides payment services to others that are not participants in a payment system
- for the purposes of enabling the transfer of funds using the payment system.
2.
In a narrower sense, an online payment service provider (PSP) enables e-commerce merchants to accept payments on the merchant's own website.
UK PSPs to remain in SEPA
- "Whatever shape Brexit takes, UK payment service providers (PSPs) will continue to take part in the Single Euro Payments Area (SEPA).
- SEPA managing authority the European Payments Council (EPC) announced the decision in March, following an application that trade body UK Finance filed with the EPC late last year."
- The Treasurer magazine, Cash Management Edition April 2019, p8.
