PSP Definition.

Payment Service Provider: under PSD2, any provider of payment services, whether a bank, a payment institution, or an e-money institution. In commercial usage, the term means an online payment acceptance provider (Stripe, Adyen, Worldline, Checkout.com, and others) that combines a gateway, acquiring, fraud prevention, and reporting. The choice of PSP determines a merchant’s payment success rate, costs, and PCI scope.

See also

→ Payment gateway→ Acquirer→ Payment institution (PI)

Where this term appears

GuideThe four-party modelGuideThe role of banksGuideMerchant, acquirer, PSPGuidePayment schemesGuidePayment regulationGuideFrench fintech: an overviewGuidePayments in GermanyGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuidePayments in Central and Eastern EuropeGuidePayments in France

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