How to choose your PSP?
The right questions to ask yourself to make the most suitable choice for your needs.
by identifying some objective criteria to help you choose the right payment service provider for your marketplace.
What is the purpose of a PSP?
6 points to consider when choosing your PSP
We’ve been wanting to switch PSPs for several months, but we were postponing the deadline because we knew it would be a long-term job. We finally made the move because the old PSP did not meet the regulatory requirements. We were looking for better features and tools, such as a single IBAN and a more robust API.
Maxime Gély | Chairman | October
The marketplace model differs in many ways from the e-commerce model, so you should be very careful when choosing the technical payment solution for your platform.
On a marketplace, three parties are involved: the buyer, the seller and the marketplace operator who collects the payment from the buyer before transferring it to the seller. The marketplace operator must have online payment tools that enable it to process payments on behalf of third parties.
Whether you are looking for a PSP to launch your platform or you are looking to switch, there are three options for providing payment services lawfully. This guide will help you find your way through the PSP jungle by identifying some objective criteria to help you choose the right payment service provider for your marketplace.