> Over the past few months, our former payment provider Nexi S.p.A. (“Nexi”)
requested access to private data, which we understood to be specifically the
usernames and passwords of our supporters. We have refused this request. All our
attempts to clarify Nexi’s request, or to understand how their need for such
information was necessary and legal, were met with what we consider to be vague
and unsatisfactory explanations relating to a general need for risk analysis. >
> Subsequently, we found ourselves unable to receive credit card donations
through Nexi’s system. In the afternoon of 10 March, we were further informed
that our contract had been cancelled a few days prior on 7 March, due to our
supposed failure to meet their deadline to fulfil their request. This deadline
was not communicated to us beforehand, despite us having been Nexi’s customer
for the past 15 years. This is completely crazy! As 450 supporters are affected,
that is a huge amount of donations that were cut off!
Payment Service Providers sit in between companies (eg webshops) and payment methods/banks/card schemes. So as a webshop, instead of having to integrate with a bank to do transfers or with PayPal, you only integrate with the PSP. A lot simpler to do, and instead of having to chase each individual payment method for your money, the PSP will handle that for you. They can also provide additional services like a unified dispute view, credit management, small loans, etc…
Payment Service Providers sit in between companies (eg webshops) and payment methods/banks/card schemes. So as a webshop, instead of having to integrate with a bank to do transfers or with PayPal, you only integrate with the PSP. A lot simpler to do, and instead of having to chase each individual payment method for your money, the PSP will handle that for you. They can also provide additional services like a unified dispute view, credit management, small loans, etc…