!!! Overview
[{$pagename}] ([PSP]) typically connect to multiple acquiring [Bank], [Card Processors], and [Payment Network]. 

[{$pagename}]s in many cases, the [{$pagename}] will fully manage these technical connections, relationships with the external network, and [Transaction Accounts]. This makes the [merchant] less dependent on [Financial Institutions] and free from the task of establishing these connections directly, especially when operating internationally.

!! [Payment Services Directive]
[{$pagename}] offers shops online services for accepting electronic payments by a variety of [payment] methods including [payment Cards], [bank]-based [Payment Transactions] such as direct debit, bank transfer, and real-time [bank] transfer based on online banking.\\ 

[{$pagename}] in accordance with regulation 2(1) of the [Payment Services Regulations|Payment Services Directive] any of the following persons when they carry out a [Payment Transaction]:
* an __authorised__ payment institution;
* a small payment institution;
** a __registered__ [Account Information Service Provider];
* an [EEA] authorised payment institution;
** an [EEA] registered [Account Information Service Provider],
* a credit institution;
* an electronic money issuer;
* the Post Office Limited;
* the Bank of England, the European Central Bank and the national central banks of [EEA] States other than the United Kingdom, other than when acting in their capacity as a monetary authority or carrying out other functions of a public nature; and
* government departments and local authorities, other than when carrying out functions of a public nature.

[Payment Services Directive] defines of two new [{$pagename}] models:
* [Payment Initiation Service Provider] ([PISP])
* [Account Information Service Provider] ([AISP])

There are also [Third Party Payment Service Provider] ([TPP]).

[{$pagename}] maybe different as the [European Union] States may have different definitions.

!! [PCI DSS]
Typically, they use a [Software as a Service] model and form a single payment gateway for their clients (merchants) to multiple [payment] methods.

Typically, a [{$pagename}] can connect to multiple acquiring [Bank], [Card Processors], and [Payment Network]. In many cases, the [{$pagename}] will fully manage these technical connections, relationships with the external network, and bank accounts. This makes the [merchant] less dependent on [Financial Institutions] and free from the task of establishing these connections directly, especially when operating internationally. Furthermore, by negotiating bulk deals they can often offer cheaper fees.


Furthermore, a full-service [{$pagename}] can offer [Risk Management] services for [payment Cards] and bank based payments, [Payment Transaction] matching, reporting, fund remittance and fraud protection in addition to multi-[currency] functionality and services. Some PSPs provide services to process other next generation methods (payment systems) including cash payments, wallets, prepaid cards or vouchers, and even paper or e-check processing.

[{$pagename}] is thus a much broader term than a [Acquirer] which is how the [Payment Card Industry] refers to them.

[{$pagename}] fees are typically levied in one of two ways: as a percentage of each transaction or a fixed cost per transaction.

US-based on-line [{$pagename}]s are supervised by the [Financial Crimes Enforcement Network] (or [FinCEN]), a bureau of the [United States Department of the Treasury] that collects and analyzes information about financial transactions in order to implement [Anti-Money Laundering], terrorist financiers, and other financial crimes.

There are more than 900 [{$pagename}] in the world. More than 300 offer services for Europe and North-America. 



!! More Information
There might be more information for this subject on one of the following:
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