Payment Service Provider [PSP]
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Categories: Finance
A PSP is a firm that offers other business services for accepting electronic payments and thus establishes a connection between shops and financial institutions such as banks and credit card firms, but also cryptocurrency payment gateways.
Payment Service Provider (Wikipedia)
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A payment service provider (PSP) is a third-party company that assists businesses to accept electronic payments, such as credit cards and debit cards payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers.
Some of the most renowned PSPs are:
