How does a Bank Card Service Provider (BSP) contribute to the card transaction process?

A Bank Card Service Provider (BSP) plays a pivotal role in the card transaction process by delivering essential services to both merchants and cardholders. These services encompass the provision of payment processing solutions that facilitate electronic transactions. BSPs are responsible for supporting merchants in accepting card payments, handling transaction settlements, and ensuring that the payment process runs smoothly.

By providing merchant services, a BSP helps businesses set up the necessary infrastructure to accept various forms of payment, including credit and debit cards. Simultaneously, they offer support services to cardholders, which can include assistance with transaction inquiries and ensuring the security of card transactions.

This combination of merchant and cardholder services is key to the overall efficiency and security of card payments, directly contributing to successful transaction completion and customer satisfaction.