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A paymentserviceprovider (PSP) is a company that provides online payments for e-commerce, similar to a credit card processor in a brick-and-mortar store. PSPs are usually used by merchants who sell online, although some may also provideservices for offline sales as well.
This is why it’s so important to go for a paymentservicesprovider (PSP) that offers robust credit card fraud prevention services to protect you from fraudulent chargebacks and help you better generate evidence to protect your business during chargeback disputes.
Some offer hands-off support from the payment gateway provider while others require regular maintenance and support. That said, lets dive into the different types of eCommerce payment solutions: Hosted payment gateways Hosted payment gateways are provided by a paymentserviceprovider (PSP).
Of course, financial criminal activity doesn’t have to just lead to monetary loss—it could also lead to a databreach of customer information. Not only is it significantly more time-consuming and costly, there’s also a higher risk of error and a databreach. trillion a year.
Yet, for all its transformative potential, AI companies struggle to partner with a secure paymentserviceprovider (PSP), because of regulatory concerns surrounding emerging technologies. PSPs risk association with databreaches or non-compliance issues.
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