No direct compatibility. The PSP (MIPS, 333 MHz) and PS3 (Cell PPE+7 SPEs) are different architectures. You cannot plug a PSP into a PS3 and play games, nor transfer saves directly via USB (PS3 reads PSP saves only for specific cross-save titles).
Bottom line: You cannot pop a UMD or Memory Stick into a PS3 and play. Buy PSP Remasters on PS3 Store, or use a Vita/PS TV/PC for the full library.