payment service provider business
When arranging for any business to accept payments over the Internet (all administrative matters settled, customer questionnaire filled out, all required documents provided, and a contract for rendering payment services signed), there comes the final step – launching technical interaction between an online store, a website or a mobile application and a payment service provider’s processing system (i.e. your rented payment processing software).
This is what programmers call integrating an online merchant’s resource with a processing system. And those who are no IT professionals simply call “adding a PAY button”.
Creating a service to accept payments online entails solving a number of organizational and technical issues. Just like with any other business, the issues are numerous, diverse and depend on internal and external circumstances and conditions.
But I am going to dwell on four basic problems which affect – be it directly or indirectly – all other aspects related to the launch of a new payment service provider business: