Are platforms such as Airbnb and Eventbrite considered Payment Service Providers (PSPs)?
Payments
Asked by Question Bot11/Sep/20131 answer
1 Answer
F
Faisal Khan
Answered 11/Sep/2013
It is my understanding that they are not. From what little I know about these companies, they presumably use a licensed payment provider, who either themselves or via an upstream processor/banking agreement have taken care of the money transmitter issue as well, i.e. their upstream provider is licensed for money service business / money transmitter legal requirements.
They would still have to adhere to the payment processing rules as setup by their processing partners.
They would still have to adhere to the payment processing rules as setup by their processing partners.