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payment service provider (PSP)

E-commerce and m-commerce companies use so-called payment service providers

(PSP) to handle the payment process. This allows the companies to concentrate on their core competencies and outsource the complete fulfillment to the service provider. Usually, customers pay via credit card or other online payment systems such as PayPal, online bank transfer, debit card system, etc., which are verified and processed by payment service providers. Full payment service providers also provide other services like fraud protection, multi-currency services, reporting functions and transaction matching apart from pure payment processing.

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Englisch: payment service provider - PSP
Updated at: 27.03.2013
#Words: 72
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Translations: DE