What Is a Payment Service Provider?

"Payment service providers" are legal entities that provide payment and clearing services to specific groups of people and businesses. "For example, banks. Commercial banks are the main body and front desk that provide payment and clearing services for the entire society. However, in addition to commercial banks, many non-financial institutions also In providing payment and clearing services, the most common are large-value payment system operation and maintenance institutions (such as China Clearing Center), traditional clearing houses and bank card organizations. They undertake the function of clearing funds between commercial banks and pay. An essential and integral part of the system.

Payment service provider

Right!
"Payment service providers" are legal entities that provide payment and clearing services to specific groups of people and businesses. "For example, banks. Commercial banks are the main body and front desk that provide payment and clearing services for the entire society. However, in addition to commercial banks, many non-financial institutions also In providing payment and clearing services, the most common are large-value payment system operation and maintenance institutions (such as China Clearing Center), traditional clearing houses and bank card organizations. They undertake the function of clearing funds between commercial banks and pay. An essential and integral part of the system.
Chinese name
Payment service provider
Types of
Corporate body
Service
Provide payment settlement
Example
commercial Bank
Payment service provider
"Payment service providers" are legal entities that provide payment and clearing services to specific groups of people and businesses. "For example, banks. Commercial banks are the main body and front desk that provide payment and clearing services for the entire society. However, in addition to commercial banks, many non-financial institutions also In providing payment and clearing services, the most common are large-value payment system operation and maintenance institutions (such as China Clearing Center), traditional clearing houses and bank card organizations. They undertake the function of clearing funds between commercial banks and pay. An essential and integral part of the system.

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