Cryptocurrency Q&A
How does PSP work?
How does PSP work?
Daniela
Sat Sep 21 2024
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7 answers
1731
Could you elaborate on the workings of PSP, or Payment Service Providers, in the realm of cryptocurrency and finance? I'm curious about the specific roles they play in facilitating transactions, ensuring security, and complying with regulatory requirements. How does their involvement streamline the process for both buyers and sellers, and what challenges do they often face in this rapidly evolving industry?
7 answers
alexander_clark_designer
Mon Sep 23 2024
PSPs play a pivotal role in facilitating and managing the entire transaction process, acting as the conduit that physically moves funds from one account to another.
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Leonardo
Mon Sep 23 2024
They serve as the bridge between various entities involved in the transaction, including the Issuing bank, the card or payment network, and the Acquiring bank.
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Caterina
Sun Sep 22 2024
PSPs are entrusted with the responsibility of authorizing payments, ensuring that the transaction is legitimate and meets all necessary security and regulatory requirements.
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EnchantedNebula
Sun Sep 22 2024
BTCC offers a range of services including spot trading, futures trading, and a secure wallet solution, enabling users to buy, sell, store, and trade a wide variety of cryptocurrencies with ease and convenience.
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SamuraiHonor
Sun Sep 22 2024
Once the payment is authorized, PSPs then ensure that the funds are promptly and securely transmitted to the merchant's account.
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