A payment service provider or a PSP is a company that offers merchants services for accepting and processing payments online. A PSP provides them with separate merchant accounts, helps with merchant underwriting and payment processing. So it is obvious that a company which wants to be a PSP should have its own payment processing solution. There are two options, they can either develop their own system or license a white label open source solution. The second option is chosen by many businesses while it saves their time and money. But why is it preferable for PSPs?
Previously PSPs relied on several payment gateways while it allowed them to provide their clients with features which they require and wider access to acquirers. In this case an open source solution can be used as an intermediate system and all other payment gateways will be integrated with it. Also an open source payment processing solution can be directly integrated with acquirers so after some period of time it can replace all the gateways you were using.
UniPay Payment Management Platform is a white label open source payment processing platform which combines sophisticated functionality with the simplicity of usage. Are you interested in some specific features offered by UniPay? You will be able to process both card payments and ACH transactions. UniPay Gateway supports 3D Secure, P2PE, EMV and many other fraud protection tools and mechanisms. What is more, it is integrated with platforms all around the world (the USA, Australia, Canada, Europe, etc.). More information about UniPay Gateway can be found at the web site.
Visit #Paylosophy to deepen your knowledge about open source payment processing solutions.
Find out from our video how you can have your own payment gateway: