A PSP license is required by all PSP’s before they can commence in offering merchant accounts to merchants. There are certain requirements to meet in order to become a PSP and to obtain the necessary license and Starting Business can guide you in understanding and administering the relevant documents to achieve a PSP status. Our dedicated consultants are experienced in all aspects of PSP’s from forming the company, to administering the documents and applying to the financial services commission on behalf of the company to acquire the license.
PSP stands for payment service provider and a license is required in order to provide merchant accounts to merchants who want to accept payments and process them. In order to become a PSP you must first obtain a company that is structured specifically as a PSP. Once you have administered the relevant documentation to acquire your PSP company you must then apply for the licensing.
A license application must be filled out and sent to the accepting financial services commission together with all necessary documentation that the financial services commission (FSC) requires from you.
On being approved by the FSC you will be issued with the PSP license which will then enable you to commence offering merchant accounts to merchants.
In order to become a PSP you are required to follow a number of steps, all of which Starting Business can assist you with.
For more information on PSP licensing or to find out how we can assist you: