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What is a Payment Service Provider (PSP) and How Do They Work?

Stax

Compliance and security Your PSP is responsible for ensuring that sensitive customer financial data is securely encrypted and stored according to the standards and regulations of the industry, such as PCI DSS (Payment Card Industry Data Security Standard).

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The Ultimate Guide to Ecommerce Payment Solutions

Stax

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 payment service provider (PSP).

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Credit Card Processing for Small Business: Everything You Need to Know

Stax

It also ensures that data security best practices, particularly PCI DSS (Payment Card Industry Data Security Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data. Your merchant account can even be terminated if you get too many chargeback fees.

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Payment Gateway, Processor & PSP: 3 Essential Payment Terms Every Business Should Know

Segpay

Last January, Segpay proudly announced that it has launched its new gateway payment platform: The Segpay Gateway can handle high volumes of merchant transactions in multiple currencies, keeping all data safe with the latest data security standards. Supports various payment methods (cards, PayPal, ACH, digital wallets, etc.).

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AI Merchant Payment Processing: The Battle for a Secure Processor

Segpay

Yet, for all its transformative potential, AI companies struggle to partner with a secure payment service provider (PSP), because of regulatory concerns surrounding emerging technologies. Payment processors, PSPs, acquiring banks and payment gateways operate under strict regulations.

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What is a White-Label Payment Gateway?

Ikajo

However, they are of particular value for specific business types: Startup payment service providers A white-label payment gateway is a wholesome starting point for entrepreneurs who wish to establish their own Payment Service Provider (PSP).

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How to start a payment processing company?

Ikajo

They play a vital role in facilitating various payment methods, such as credit or debit card transactions, digital wallet transfers, mobile payments, and electronic bank transfers. As a payment business dealing with card transactions processing, you’re subject to PCI DSS certification. Complying with regulations.

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