Commerce Service Provider (CSP)

Meaning – A commerce service provider is one that facilitates the e-commerce websites to conduct business online, and also handles transactions for the same.

These days, many businesses have started selling their items and goods online in order to reach a wider audience. However, a larger audience means more traffic on their portal, and this means payment gateways can get congested, leading to lots of problems and a loss of faith among the buyers. To mitigate all these issues, many organisations start up as commerce service providers, and assist these businesses in selling their goods seamlessly, while allowing for a secure payment gateway.

Example of usage“When she decided to sell her paintings and craft online, the first thing she did was search for a reliable commerce service provider, who could assist her every step of the way.”