What is payment service provider determination in SAP FIN-FSCM-DP-DP - Digital Payments?

SAP Term: payment service provider determination

• Component: FIN-FSCM-DP-DP

• Component Name: Digital Payments

• Description: Accounts Receivable FI-AR Process by which the SAP digital payments add-on determines which payment service provider PSP is used for particular payments. You have to define rules known as routings, which are then applied to determine the appropriate PSP.

Smart SAP Assistant

• Key Concepts: 
  Payment Service Provider (PSP) determination is a feature of the Digital Payments component of SAP’s Financial Supply Chain Management (FSCM) module. It allows users to define and manage payment service providers (PSPs) for their organization. This includes setting up the PSPs, defining the payment methods they offer, and configuring the payment parameters for each PSP. 
  
  How to use it: 
  To use the Payment Service Provider determination feature, users must first define the PSPs they want to use. This includes entering information such as the PSP’s name, address, and contact information. Once the PSPs have been defined, users can then configure the payment methods they offer. This includes setting up the payment parameters for each payment method, such as the currency, minimum and maximum amounts, and any additional fees or charges. 
  
  Tips & Tricks: 
  When setting up a new PSP, it is important to ensure that all of the necessary information is entered correctly. This includes entering the correct contact information for the PSP, as well as any additional fees or charges that may apply. Additionally, it is important to ensure that all of the payment parameters are configured correctly for each payment method offered by the PSP. 
  
  Related Information: 
  For more information on Payment Service Provider determination in SAP FSCM Digital Payments, please refer to SAP Help documentation at https://help.sap.com/viewer/product/FIN_FSCM_DP_DP/latest/en-US