Payment services provider. A payment services provider (PSP) sometimes called a payment facilitator (PayFac) is an entity, providing payment services to a merchant. These include assistance in accepting credit, debit and bank draft payment services. The concept is related to physical as well as online merchants. Frequently a service provided by a payment facilitator or a PSP can involve an online software-as-service (SAS) product (such as payment gateway software).
Merchant services provider. An MSP or a merchant services provider is an entity that meets the merchant’s need for payment processing services. The concept is used to define the businesses that work as a middle link between the banks and credit card companies on one side, and companies, accepting respective payment types, on the other. A company, accepting non-cash payments will, definitely, have to deal with merchant services providers.
Payment gateway. Payment gateway software makes it easier for PSPs, payment facilitators, and merchants, to accept and authorize payments. In essence, a payment gateway software is an e-commerce application, needed by an entity (dealing with transactions or payments), located “somewhere along the way” from the merchant to the payment processor.
Quite a lot of PSPs and merchants partner with Payment Gateway Software. Maybe, you can benefit from becoming one of them. Contact us, and we will gladly introduce you to the payment solutions, allowing you to occupy your rightful place in the merchant services industry.