Payment practices reporting and Payment service provider: Difference between pages

Revision as of 17:45, 13 March 2017

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.

@@ Line 1: / Line 1: @@
-. ''UK''.
+''Payment systems''
-The legal requirement, from 2017, for large businesses in the UK to publicly report on their payment practices behaviour.
+(PSP).
-Also known as the 'duty to report'.
+.
-(Enabled by the Small Business, Enterprise and Employment Act, 2015.)
+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.
 .
-Other similar reporting by other organisations or in other jurisdictions, whether voluntary or mandatory.
+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 ==
-*[[Chartered Institute of Credit Management]]
+*[[Aggregator]]
-*[[Credit]]
+*[[Faster Payments Service]]
-*[[Open account]]
+*[[Fintech]]
-*[[Prompt Payment Code]]
+*[[Information technology]]
+*[[P2P]]
+*[[Payment system]]
-===Other links===
+*[[TTP]]
-*[http://www.promptpaymentcode.org.uk/ Prompt Payment Code home page]