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A payment service provider (PSP) is a third-party company that assists businesses to accept a wide range of online payment methods, such as online banking, credit cards, debit cards, e-wallets, cash cards, and more. They ensure customer's transactions make it from point A to point B, safely and securely.
The typical network architecture for modern online payment systems is a chain of service providers, each providing unique value to the payment transaction, and each adding cost to the transaction: merchant, point-of-sale (PoS) software as a service (SaaS), aggregator, credit card network, and bank.
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.
Patreon (/ ˈ p eɪ t r i ɒ n /, /-ə n /) is an American membership platform that provides business tools for content creators to run a subscription service.It helps creators and artists earn a monthly income by providing rewards and perks to their subscribers.
Transit check – a cheque which is drawn on another bank than that at which it is presented for payment. Traveler's cheque – a pre-paid cheque that could be used to make payments in stores. Railway pay cheque – identification used to collect railway workers pay packet.
Merchant services is a broad category of financial services intended for use by businesses. 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 enabled device.
Loan payment. The most typical loan payment type is the fully amortizing payment in which each monthly rate has the same value over time. The fixed monthly payment P for a loan of L for n months and a monthly interest rate c is: = (+) (+)
EMV is a payment method based upon a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them. EMV originally stood for "Europay, Mastercard, and Visa", the three companies that created the standard.