What is a PSP (Payment Service Provider)?

A PSP (Payment Service Provider) offers a solution that allows e-merchants to receive online payments. Two types of actors provide payment services: banks and non-banking actors who have obtained a payment institution license or a payment service provider agent license.

Whether you choose a bank or a payment institution, both types of actors provide the services you need to collect online payments:

  • A secure web page for the buyer, offering various payment methods: payment by bank cards (CB, Visa, Mastercard, or other international bank cards), payment with an online wallet such as PayPal, direct debit payment, financing options (installment payments), etc.
  • Protection of financial data for both the payer and the seller through PCI-DSS infrastructure.
  • A technical gateway between your website and the entire payment processing chain (banks, payment networks such as Visa, Mastercard, CB, etc.).
  • Fraud prevention measures, including strong customer authentication with two-factor authentication for the payer (as per Article 74 of PSD2) and additional customizable controls according to your needs.
  • An interface to control, track, and manage transactions on your merchant website.

Payment service providers must comply with the rules of the European directive PSD2, whose main purpose is to harmonize and enhance the security of online payments across EU (European Union) member states. This aims to strengthen the fight against fraud, improve trust in online payments, and encourage innovation. Every payment service provider adheres to this set of rules.

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