A PSP, or Payment Service Provider, is a company that enables merchants to accept a variety of payment types — including credit cards, debit cards, digital wallets, and bank transfers — through a single platform. PSPs typically offer bundled services like payment gateways, merchant accounts, fraud tools, and settlement. They streamline the setup process for merchants and are commonly used in both ecommerce and point-of-sale environments.

It is important to choose the right PSP. If you work with a PSP that isn’t a good fit for your business, you run the risk of low approval rates, unnecessary fees, and compliance issues.

AltoPay is a popular PSP alternative with a high-touch approach, offering custom configurations and proactive support tailored to the growth goals of your business. We help you avoid common PSP pitfalls, like account freezes or opaque pricing, and deliver scalable infrastructure with transparency.