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A payment service provider or PSP is a firm that supplies favors related to online payments. These firms act as intermediaries between the merchants or companies that accept online payments and the banks or financial institutions that process those payments. Service suppliers offer a wide range of favors, including remittance processing.
With the development of e-commerce and the rise in popularity of online payments, PSPs have become increasingly important in recent years. These companies offer businesses a fast, secure and reliable way to accept payments from clients around the world. By using a PSP, businesses can avoid the hassle of setting up their own payment processing systems and focus on their core business.
One of the main advantages of using a PSP is the ability to accept payments in multiple currencies. Remittance service providers can convert payments made in a foreign currency to a currency of the merchant’s choice, making it easier for businesses to sell their products and services to customers in other countries. Suppliers can also help businesses reduce the risk of currency fluctuations by offering hedging options.
To obtain a payment service provider license in Brazil, you need to met below demands:
Obtaining a PSP license in Brazil can have some advantages for companies that plan to engage in this activity. Here are some of those benefits:
To get a PSP license in Brazil, the following documents must be prepared:
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