PPSSPP is a PSP emulator written in C++, and translates PSP CPU instructions directly into optimized x86, x64 and (soon) ARM machine code, using an efficient JIT compiler. PPSSPP can thus run on quite low-spec hardware, including stronger Android phones and tablets, as long as there’s support for OpenGL ES 2.0.

Release notes:

A few issues have been discovered in the release that need fixing, the Star Ocean fix had a bug and there are some unexpected slowdowns.