What is the definition of a Payment Source? Do I need to create one?

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Payment Sources enable you to organise and manage your sales in the best possible way. Basically, Payment Sources tracks the way in which you have received a payment.
When you activate your account a "Source" designated as "Default" is created, and a unique code is allocated to it. This payment source will be used for all payments you accept unless you specify and select a different source.
There are 2 basic types of payment source:
Physical Location/Store
Website/Mobile App
The first type services payments from different physical locations (where your company has multiple physical points of sale).
The second serves payments from different websites (where your company has multiple websites), or you may wish to separate your sales by product category or customer.
With a single account, you can receive payments from all of your different domains. All you need to do is to create multiple payment sources, and determine the appropriate settings for each source. You can also assign different (product/company) logos to each payment page.
You can also use payment sources to separate sales by category, or even to organise them by method of order placement (e.g. phone sales, internet sales, or physical store).
IMPORTANT NOTE: For your security and due to legal and regulatory restrictions, any new website or app-based payment source will take approximately 1 day to activate, as will a change to any of your domains linked to a payment source. Please take this period of time into account before you start accepting payments.