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Learn More Understanding PaymentServiceProviders (PSPs) A paymentserviceprovider helps businesses with the acceptance and processing of payments made via electronic payment methods, including credit cards, debit cards, digital wallets, ACH transfers, and payment apps.
Key features to look for in an eCommerce payment solution include security and fraud protection, payment method variety, integration capabilities, chargeback protection and dispute resolution, and global payment support. Payment processor – Handles the technical aspects of the payment.
Clearing and settlement With full authority to proceed with the transaction, your credit card processor will forward the transaction details to the relevant card networks, which are responsible for routing the relevant funds from your customer’s bank to your business bank (acquiring bank).
A QR payment flow begins with the customer scanning a QR code for the required amount. OfflinePay is a next-gen prepaid wallet that works in tandem with M2P’s acquiring stack to enable offline payments in a secure environment. Both the user and the merchant now have proof of the offline payment.
Introduction to Stripe Reconciliation Every digital purchase is a complex interplay of entities—Customers, Merchants, Acquirers, and Issuing Banks—that orchestrate the flow of funds. Stripe is a PSP that offers a suite of services to streamline payment processing and enhance the online shopping experience.
Yet, for all its transformative potential, AI companies struggle to partner with a secure paymentserviceprovider (PSP), because of regulatory concerns surrounding emerging technologies. Payment processors, PSPs, acquiring banks and payment gateways operate under strict regulations.
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