What is PSP Software
A payment service provider (PSP) requires specific software in order to enable the provider to function as a fully operational PSP. The PSP software enables an online merchant to receive all information and data into separate accounts whilst being in accordance with industry standards.
DeltaQuest can assist in obtaining the best PSP software for your firm. View our PSP Software services page for further details.
PSP Software explained
When setting up a PSP company, you will need to have a communication tool between the merchant and the bank, and a software interface for merchants to interact with. The communication tool between the merchant and the bank is the payment gateway, and the merchant software interface is PSP software.
Having a payment gateway is not sufficient for a PSP as they will need to take the data that the payment gateway processes and present it to the merchants. This is achieved using PSP software. PSP software takes the data from the payment gateway and breaks it down into separate accounts for merchants to see their processing history, as well as statements and other reporting tools.
PSP software can also contain functionality that allows merchants to use the payment gateway through the PSP software, including using a virtual terminal or batch processing software.
PSP software is vital for the operation of a PSP company as it acts as the interface that merchants use to see their usage of the payment gateway, as well as for them to interact directly with the payment gateway.
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