Payment Service Provider (PSP)/ Payment Facilitators

 A third party that helps Merchants to accept and facilitate the payments.

How does Payment Service Provider work?

Payment Service Providers partner with Acquirers to offer Merchants the capability to accept the payments from Customers make fund Transfers. PSPs often are often offering other financial services on top of the facilitation of Transactions. For instance, they can offer: Payment Card Industry Data Security Standard (PCI DSS) compliance, fraud protection and the ability to process different currencies and translate different languages.

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