Polish Payment Standard (PSP) is a company formed by six biggest Polish banks: Alior Bank, Bank Millennium, Bank Zachodni WBK, mBank, ING Bank and PKO Bank Polski. PSP provides their customers with a revolutionary and intuitive mobile payment service -BLIK.
BLIK enables customers to make eCommerce and retail payments, withdraw cash from ATMs and send transfers to other customers using the system. The PSP system, being a Polish payment scheme, means that the user can access the system using an app belonging to any of the participating banks, and can have several apps on their phone that will work with BLIK.
A PG is a transaction processing technology that captures, stores, and transmits card information from the customer to the acquirer.
A PSP is a financial entity that is authorized to process transactions between buyers and merchants.
A PA is a company that enables merchants to accept payments through a single account. They aggregate transactions from multiple merchants into a single merchant account and facilitate payouts.
A PayFac is a company that simplifies the payment process for sub-merchants by providing a unified platform. They act as a middleman between the sub-merchant and the acquiring #bank and handle all the necessary compliance and underwriting processes.
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