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Payment service provider. A payment service provider ( PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers. [1]
Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa and Mastercard) in accordance with a bank and financial regulation in the countries where the debit/credit service conducts business. [better source needed] E-commerce payment system often use B2B mode.
Strong customer authentication. Strong customer authentication ( SCA) is a requirement of the EU Revised Directive on Payment Services (PSD2) on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic ...
There are different methods of transferring funds, including: Bill pay: Your bank may have this feature, where you use your checking account to transfer money to your credit card. The bank will ...
Merchant services. Merchant services is a broad category of financial services intended for use by businesses. [1] In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC / RFID ...
A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken down into two types: front-end and back-end. Front-end processors have connections to various card ...
Last four digits of the card used. Amount charged or credited. If you have authorized users on your account, the last four digits of the card used could help you identify where or who the purchase ...
This card was the industry's first credit card to give cash rewards for good credit management. Later in the year, DFS announced the Discover More card to replace the Discover Platinum card. The Discover More card was designed for consumers who use credit in many different categories and provided them with more ways to earn cash back on their ...