article thumbnail

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

Stax

Streamlined reconciliation and reporting PSPs usually provide detailed post-transaction reporting and analytics to give you a real-time picture of your overall business performance and the spending patterns of your customers. PSPs tend to unilaterally and spontaneously freeze accounts because of the nature of their business model.

article thumbnail

Deep Dive: How Payments Orchestration Can Drive ROI And Reduce Payments Processing Costs

PYMNTS

Covering the cost of payments processing is an unavoidable expense, but many businesses can find themselves paying more than necessary. Negotiating favorable terms can be a time-intensive undertaking, but it plays a major role in determining businesses’ payments processing costs.

article thumbnail

Finovate Global Hong Kong: Open Platforms, Web3, and New Opportunities for Octopus

Finovate

” Checkout.com launches Octopus in Hong Kong London-based Checkout.com is the first international payment services provider (PSP) to offer Octopus , the leading payment method in Hong Kong, as a payment option at checkout. With 98% penetration in a region with 7.5 The company has raised $1.8

article thumbnail

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. The absence of payments orchestration would require firms to expend more time and resources than most businesses’ finance departments could handle.

Process 43
article thumbnail

How to Accept Online Payments for Free in 2024

Payment Savvy

Understanding the specific costs of each online payment method empowers businesses to make informed decisions that align with their financial strategies. My Payment Savvy (MPS) My Payment Savvy (MPS) is a robust payment processing solution that offers competitive rates and a range of features tailored to small businesses.