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PSP
Setting up as a payment service provider, or finding the payment service providers that suit your business.
- Becoming a PSP
- Working with PSPs
- The parts of a PSP set-up
What it is and who it's for
A payment service provider (PSP) processes payments for merchants. Some businesses want to become a PSP; others need the right PSPs to work with.
Both depend on the same parts: a licence, an acquiring bank, the card schemes, compliance and technology.
Your route
Become a PSP
The licence
The licence your payment services require, and the jurisdiction to apply in.
Acquiring and schemes
Relationships with acquiring banks and the card schemes.
Operations
Compliance policies, staff and the technology to process payments.
Work with PSPs
Shortlisting
PSPs that accept your industry and cover your markets.
Applying
The documents and information each PSP reviews.
Spreading the risk
Working with more than one PSP, where that suits your volumes and markets.
The parts of a PSP set-up
- LicenceThe authorisation to provide payment services.Details
- Acquiring bankThe bank that settles card payments.Details
- Card schemesAccess to the card networks.Details
- CompliancePolicies and controls the regulator and partners expect.Details
- TechnologyThe platform that processes the payments.Details
Licence
The authorisation to provide payment services.
What it involves
Choosing between an EMI and a payment-institution licence, and the jurisdiction. The Licensing pages cover the application.
Acquiring bank
The bank that settles card payments.
What it involves
Finding an acquiring bank that works with your business model and preparing the onboarding.
Card schemes
Access to the card networks.
What it involves
The scheme requirements that apply to a PSP and how access is arranged through the acquirer.
Compliance
Policies and controls the regulator and partners expect.
What it involves
Anti-money-laundering policies, risk assessments and the people responsible for them.
Technology
The platform that processes the payments.
What it involves
Choosing or building the processing platform and connecting it to acquirers and merchants. See also Payment gateway.
How it works
- 1ConsultationWe talk through what you need, where you operate and what you already have in place.
- 2PlanYou receive a plan that sets out the steps, the documents and the parties involved, so you can decide how to proceed.
- 3Set-upWe prepare the applications and documents with you and coordinate with the providers involved.
- 4Ongoing supportAfter set-up, we stay available for renewals, changes and questions.
What partners ask for
Acquirers and regulators usually review:
- The business plan and the payment flows
- The owners, directors and key staff
- Compliance policies and controls
- The technology and its security
Frequently asked questions
Still have a question?
Talk to usHow long does it take?
It depends on the jurisdiction, the provider and the documents involved. We give you an estimate for the PSP set-up after the consultation.
What does it cost?
Costs depend on the jurisdiction and on the services you choose. We set them out for the PSP set-up after the consultation, before any work starts.
Do I need to travel?
Some steps can be completed remotely and others need you in person. We tell you which applies to your case before you start.
Used in these set-ups
What comes next
Each service leads to the next: the structure, then the accounts, then the payments and the licence.
Plan your PSP set-up
Talk to us- IncorporationForming a company or foundation, and keeping it in good standing.Talk to us
- BankingBusiness and personal accounts, and accepting payments.Talk to us
- LicensingFinancial licences for regulated activities.Talk to us
- InvestmentsOpening investment accounts for a company or for yourself.Talk to us