Payment Services Providers are entities that facilitate financial transactions between payers and payees, handling the technical and operational aspects of payment processing. These include traditional banks, payment gateways, e-money institutions, and emerging fintech companies. They are integral to the modern financial infrastructure.
Context
The role of Payment Services Providers in the distribution and accessibility of central bank digital currencies is a key discussion point in financial news. Debates center on balancing innovation with existing financial infrastructure and ensuring regulatory oversight. Their participation is crucial for the widespread adoption and usability of any new digital currency.
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