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payment service provider (PSP)

E-commerce and m-commerce companies use so-called payment service providers(PSPs) to handle the payment process.

This allows companies to focus on their core competencies and outsource the entire fulfillment process to the service provider. As a rule, customers pay via credit card or other online payment systems such as PayPal, online bank transfer, debit card system, etc., which areverified and processed by payment service providers. Full payment service providers also provide other services such as fraud protection, multi-currency services, reporting functions and transaction matching in addition to pure payment processing.

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Englisch: payment service provider - PSP
Updated at: 27.03.2013
#Words: 90
Links: service, process, fulfillment, service provider (SP), arsenic (As)
Translations: DE
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