Payment service provider (PSP)

Read on to find out exactly what a payment service provider is and what it does.

What is a payment service provider or PSP?

A payment service provider is a company that, among other things, accepts, authenticates, and handles electronic payments on behalf of merchants. Wirecard is one of the world’s largest payment service providers.A payment service provider allows merchants to take advantage of various payment methods—for example, Visa, Online Bank Transfer (Klarna.), and PayPal—and executes customer payments on the merchant’s behalf. Instead of having to conclude an agreement with each individual provider, merchants only deal with one party and can still offer an entire range of payment options in their stores.

The benefits of a payment service provider

Reliable partner

Working with a PSP means much less work for merchants. With just one integration, you can accept the most important payment methods in your store.

Substantial experience

An established payment service provider knows the relevant payment methods for the different markets and target groups.

Additional services

As a PSP, Wirecard offers merchants many additional services, such as fraud prevention and risk management.

Payment Service Provider

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