Payments as a service

This article reads like a press release or a news article and may be largely based on routine coverage. Please help improve this article and add independent sources. (April 2012)

Payments as a service (PaaS) is a marketing phrase used to describe software as a service to connect a group of international payment systems. The architecture is represented by a layer – or overlay – that resides on top of these disparate systems and provides for two-way communications between the payment system and the PaaS. Communication is governed by standard APIs created by the PaaS provider.