Payment Service Provider (PSP)

byPaytm Editorial TeamLast Updated: October 21, 2025

Meaning

PSP stands for Payment Service Provider. A Payment Service Provider, is an entity that enables merchants to accept digital payments including UPI.

Role

PSPs act as intermediaries between banks, apps, and customers for secure payment processing.

Author

Paytm Editorial Team

The Paytm Editorial Team is a collaborative group of writers, editors, and industry experts. We're dedicated to bringing you the latest insights, news, and guides on digital payments, financial services, and the technology that's shaping India's economy. We offer easy-to-follow guides and insights to help you explore Paytm’s products, features, and services. Our goal is to provide clear, reliable, and helpful information to empower you on your financial journey.

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