Hi, I’m Melissa Blackburn with 2Checkout,
and today we’ll be talking about Payment Service Providers, or PSPs. A Payment Service Provider
is a third party that helps merchants accept and facilitate payments. Payment Service Providers
partner with Acquiring Banks to offer merchants the capability to accept payments. Payment
Service Providers often offer services in addition to processing transactions. These
services include Payment Card Industry Data Security Standard compliance, fraud protection,
and the ability to process different currencies and translate different languages.