A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers. PSPs (also called merchant service providers) are third-party companies that help business owners accept a wide range of online payment methods, such as online banking, credit cards, debit cards, e-wallets, cards cash and more.