Payment service provider

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Revision as of 11:51, 18 March 2017 by imported>Doug Williamson (Mend link.)
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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.


See also