What is the PSP (.psp) image format?
The PSP (.psp)image format is Jasc’s special format for saving all the information in an image without any loss. PSP files include each layer and all transparency information (including masks) that is generated while working on an image. They can optionally be compressed via run-length encoding or LZ77 encoding. While PSP files are ideal for saving complex images, they can only be viewed by PSP 5, so you’ll have to convert your images, or use the File/Save Copy As to put them up on the web or share them with people who don’t have Paint Shop Pro 5. Images saved in PSP format by PSP 6 will not be fully readable in PSP 5 if they contain features not found in PSP 5 (mainly vector stuff).