A payment processor is the piece on the back end that connects the payment gateway with the merchant’s account and card association networks. It collects, encrypts, and transmits the sensitive information needed for a transaction. A payment gateway acts as a secure super highway to connect businesses to payment processors. TL DR: What’s happening behind the scenes is all pretty complicated. Payment Services ProviderĪ payment services provider (PSP) is a platform that serves as a bridge between businesses wanting to sell a product, and the more specialized services and networks you need on the back end, like payment gateways, payment processors, and a merchant account.Ī PSP makes it easier for those businesses to sell their products online because the businesses don’t have to directly interface with payment gateways and payment processors - the businesses can just use the PSP, and the PSP will handle payment connections in the background. Payment Gateways, Payment Processing, PSPs, MoRs - What’s the Difference?Ī few clarifying definitions will be helpful for understanding the differences between 2Checkout vs. Interested? Set up a demo or try it out for yourself. FastSpring provides an all-in-one payment platform for SaaS, software, video games, and digital products businesses, including VAT and sales tax management, payment localization, and consumer support. If you’re looking for a payment services provider and merchant of record to help you grow your business internationally, we can help.
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