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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.
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.
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