A Payment Service Provider (PSP) is a company that provides businesses with the technology and services necessary to accept and process electronic payments, such as credit card payments, bank transfers, and e-wallet payments.
PSPs act as intermediaries between merchants and financial institutions, such as banks and credit card companies. They provide the infrastructure, tools, and security measures needed to process payments and handle sensitive financial information.
A Merchant is a business that trades in commodities produced by others to earn a profit.
In the context of machine learning, clustering is a technique used to group similar data points together based on some similarity metric. A MID Cluster,
A Merchant Identification Number (MID) is a unique identification number assigned to a merchant account by a payment processor or acquiring bank. It is used
A Provider is a broker or agent that can provide different PSPs to process electronic payments for each Merchant.
