How can an online B2B portal position itself as an intermediary in payments?
Payments
Asked by Question Bot01/Sep/20161 answer
1 Answer
F
Faisal Khan
Answered 01/Sep/2016
From a VISA/MasterCard point of view, if you are already a merchant, to become an intermediary (or a marketplace) is to qualify for the PSP (Payment Service Provider) program, or more specifically, become a PF (Payments Facilitator).
So, the first step is to contact your acquiring bank and see if they would on-board you as a PF? (also would help if you talked to VISA/MasterCard rep in your area).
Secondly, look if there is any central bank / financial regulator legislation that would require you to get a PSP license for becoming an intermediary in payments.
So, the first step is to contact your acquiring bank and see if they would on-board you as a PF? (also would help if you talked to VISA/MasterCard rep in your area).
Secondly, look if there is any central bank / financial regulator legislation that would require you to get a PSP license for becoming an intermediary in payments.