Payment Service Providers serve as a link between merchants and customers, helping businesses accept online payments through a variety of payment methods such as debit cards, credit cards, e-wallets, and online Banking.
Purchasing a PSP allows you to save a significant amount of money by combining these expenses into two types of fees: an initial setup fee as well as a monthly subscription fee.
The Benefits of PSP's are wide-ranging. A PSP can boost a business's sales, which is one of the benefits associated with them.
A PSP can also Benefit Businesses who are looking to expand internationally and accept payments in different currencies. A majority of PSPs offer secure and fast payment processing.
PSP's provide Businesses with a secure channel for managing payments in an age of increasing cyber crime. All information received from a transaction is heavily encrypted using SSL (Secure Socket Layer), allowing only the customers to access it.