Criteria for Choosing a PSP
Learn which aspects you must pay attention to when you search for a suitable payment provider. Here you’ll find the most important criteria.
Third-party billing refers to the processing of payment through a third-party. Payments are transferred to a payment service provider who settles the payments for the merchant. The PSP can also take care of unfulfilled payments, reminders or the involvement of debt collection companies.
Advantages of third-party billings for merchants
Smaller merchants can especially benefit from a third-party billing, because it allows them to offer their customers a secure payment method despite low awareness and few reviews. Furthermore, the payment provider often takes over the billing, any dunning procedures and the demand of the money. The dealer saves a lot of fixed costs.
