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What is a Payment Service Provider (PSP) and How Do They Work?

Stax

The payment gateway connection will be responsible for transmitting your customer’s payment information between your own customer-facing platforms and your PSP and other relevant financial institutions. Basically, the difference between payment gateways and PSPs is the extent of tasks they complete.

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What Is A Payment Service Provider (PSP)?

Nanonets

​A payment service provider (PSP) is a company that provides online payments for e-commerce, similar to a credit card processor in a brick-and-mortar store. PSPs are usually used by merchants who sell online, although some may also provide services for offline sales as well.

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So you’re a high-risk merchant, now what?

Basis Theory

The card networks and payment gateways designate high-risk merchants as less safe than their normal clientele because of evidence like high chargeback rates (above 1%) or guilt by association—being in an industry associated with risk, like gambling, cannabis, and, surprisingly, e-commerce. Return to Top

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What is a White-Label Payment Gateway?

Ikajo

Among these, white-label payment gateways have emerged as a game-changer, offering a customizable cutting-edge approach to payments. What is a payment gateway? To get to the bottom of the white-label payment gateway, let’s first take a moment to explore what a payment gateway is.

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Paymob Receives PSP Licence in Oman To Accelerate SME Digital Economy

The Fintech Times

Paymob , the financial services enabler in the Middle East, North Africa, and Pakistan (MENAP) has become the first international fintech company to be fully licensed in Oman following receipt of a Payment Service Provider (PSP) licence. As such it eliminates the need for multiple gateway integrations.

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Paymob secures Central Bank of Oman’s PSP license

Fintech Finance

Paymob , the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP) announces that it has received the Central Bank of Oman’s (CBO) Payment Service Provider (PSP) license, making it the first international fintech company to be fully licensed in the Sultanate.

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Omicron Media On Optimizing The Payments Process

PYMNTS

The trouble for businesses is that with this increase in digital transaction volumes comes the need to better manage payments processing. Every time a business adds a new payment service provider (PSP) or currency or expands into a new market, it must optimize its payment flows for cost and efficiency and rethink its payments strategies.

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