Remove CVV2 Remove Fraud Detection Remove Processors
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What Is A Payment Service Provider (PSP)?

Nanonets

​A payment service provider (PSP) is a company that provides online payments for e-commerce, similar to a credit card processor in a brick-and-mortar store. • Fraud prevention: PSPs use various methods to prevent fraud, such as AVS and CVV2 checks.

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Virtual Credit Card Fraud: Its Risks & How to Prevent it

Seon

Increased chargebacks can lead to a business being dropped by payment processors. And a lack of access to a reputable payment processor can start the entire negative feedback loop over again. Users who have unauthorized charges will likely seek chargebacks, which are more damaging than refunds.