What it means
A broad business role
A PSP may help businesses accept payments, execute transfers or manage parts of the payment lifecycle. A gateway, processor, acquiring institution and custody provider describe functions that may be supplied together or by different organizations.
Evaluate the relationship
The merchant should identify who receives or controls funds, how payment status is established, who handles disputes and when payouts become available. Service descriptions and regulatory classifications are separate questions. Cross-border arrangements can involve multiple providers and different local obligations.
Related concepts
Payment gateway, Payment settlement, Payout, Virtual asset service provider.
In practice
A concrete example
A merchant compares a provider’s acceptance service with its payout and dispute services instead of treating them as one undifferentiated feature.
Technical notes & boundaries
PSP is not a universal licence category. The linked ECB terminology provides context, not a ruling on a specific business’s authorization.
Go to the source.
Original references used for this definition. Product details and standards can change.
