Transaction payments as a service (TPaaS) is a phrase used to describe a
SaaS
Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike oth ...
-based methodology which allows platforms to become their own merchant platforms and provide merchant services directly. This is distinct from
payments as a service which aggregates multiple payment technologies into one platform.
[Transaction Payments As A Service]
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TPaaS layer
The TPaaS layer allows organisations to become their own merchant provider, this facilitates functionality that is normally only available to merchant aggregators such as commission splits, merchant of record and instant onboarding.[
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See also
* Payments as a service
* Electronic bill payment
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or ve ...
* E-commerce payment system
An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increa ...
* Electronic commerce
E-commerce (electronic commerce) refers to Commerce, commercial activities including the electronic buying or selling Goods and services, products and services which are conducted on online platforms or over the Internet. E-commerce draws on tec ...
* Payment service provider
A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who ...
References
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Payment systems