PSP
- tags
- Fintech
Acronym in Open Banking #
(PSP) A Payment Services Provider is an entity which carries out regulated payment services, including AISP, PISP, CBPIIs and ASPSPs (Generally banks).
They describe a financial institution authorised to process money transactions between merchants and their customers. In other words, PSPs are third-party providers that enable companies to accept payments from their clients in a convenient way.
Like Banks. ref
A PSP is an aggregator of payment methods. It allows a website operator to get paid via Debit Card, Credit Card, Mobile Wallet
Examples #
BNPL company is considered as PSP