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What is an IPSP?

by johnrob 17y ago

What is an IPSP?

jacquesm 17y ago
Internet Payment Service Provider A company that registers your merchant account with a company such as paysquare, they will take care of scrubbing and fraud control (for a nominal fee per charge) and will deposit your money in your bank account, usually on a weekly basis. I should probably do a post on how all the items in an e-commerce transaction go together.
- megamark16 17y ago
  That would be a very helpful post! For some of us the whole ecommerce side is unknown and a bit scary.
- adriand 17y ago
  I've got a contract for a web project right now where, if possible, I'd really like to integrate some fairly sophisticated e-commerce. The two big challenges: 1) The project deals with separate businesses that all have their own bank accounts. The money from transactions processed by the app has to be deposited into the bank accounts that belong to individual businesses. I believe this means that PCI requirements are substantially more onerous for an app like this because my client is classed as a payment service provider, rather than just a user. 2) The app must also be able to process card-present transactions, both credit- and debit-card based. Customers of the businesses (who are the customers of my client) that use the app will often be present to swipe their cards for their payments to be processed. Are you aware of any services or technologies that would make this easier? So far I think my preference may be for partnership with a vendor who is already PCI-certified and has the pin pads for card-present transactions, whose software has a good API that I can interact with via this web application. I'll be building this in Rails. I've got lots of experience with traditional e-commerce models, and I'm comfortable with the technical aspects of dealing with multiple bank accounts, but the certification requirements appear to be the major obstacle so far (costing approx $100k, according to my research, for hiring an independent security assessor and working with them to achieve compliance).

What is an IPSP?

by johnrob 17y ago

What is an IPSP?

Internet Payment Service Provider A company that registers your merchant account with a company such as paysquare, they will take care of scrubbing and fraud control (for a nominal fee per charge) and will deposit your money in your bank account, usually on a weekly basis. I should probably do a post on how all the items in an e-commerce transaction go together.

megamark16 17y ago
That would be a very helpful post! For some of us the whole ecommerce side is unknown and a bit scary.
adriand 17y ago
I've got a contract for a web project right now where, if possible, I'd really like to integrate some fairly sophisticated e-commerce. The two big challenges: 1) The project deals with separate businesses that all have their own bank accounts. The money from transactions processed by the app has to be deposited into the bank accounts that belong to individual businesses. I believe this means that PCI requirements are substantially more onerous for an app like this because my client is classed as a payment service provider, rather than just a user. 2) The app must also be able to process card-present transactions, both credit- and debit-card based. Customers of the businesses (who are the customers of my client) that use the app will often be present to swipe their cards for their payments to be processed. Are you aware of any services or technologies that would make this easier? So far I think my preference may be for partnership with a vendor who is already PCI-certified and has the pin pads for card-present transactions, whose software has a good API that I can interact with via this web application. I'll be building this in Rails. I've got lots of experience with traditional e-commerce models, and I'm comfortable with the technical aspects of dealing with multiple bank accounts, but the certification requirements appear to be the major obstacle so far (costing approx $100k, according to my research, for hiring an independent security assessor and working with them to achieve compliance).