Payment Service Provider (PSP)
The payment service provider (PSP) is a company that enables eCommerce merchants to accept payments on their websites. The key product of a payment service provider is a payment gateway. A payment gateway is a software that allows merchants to accept multiple payment methods from consumers across the world.
Full-service PSPs not only collect, authenticate, and process payments, they also offer risk management services, reporting, and various levels of fraud protection. PaySpacelv uses its own anti-fraud system, integrated with MaxMind and Ethoca scoring services, to minimize fraud and Chargebacks. They provide real-time support for online payments, mobile payments, and e-gift cards, and they offer the Playspacelv e-Wallet to allow customers to make flexible and one-click payments with a host of input devices.
Who needs a payment system provider?
Any merchant who wants to sell online need a payment system provider. Otherwise, he won’t be able to accept online payments on his website.
What is the price of payment service providers services?
It depends on a payment service provider of your choice. Some PSPs charge 2.8%+30 cents per transaction, while others charge 6% and more. It also depends on your business nature. For example, owners of gaming or porn businesses always pay higher fees. The possible risks are to blame.