It seems like every week another ISO or payment facilitator joins the world of merchant services, and an increasing number of independent sales organizations (ISO) are considering making the transition and adding payment facilitation to their services. As payment processing becomes more complex, defining the various intermediary types, such as payment services provider (PSP), merchant services provider (MSP), and payment aggregator, and their respective roles becomes increasingly important. Many current ISOs have considered facilitating payments for their clients. One reason for this is that payment facilitators are more active in merchant underwriting and merchant funding and, therefore, have more control over these processes.
When considering transitioning into a new role in payment processing, an ISO needs to consider several vital issues, including a search for a satisfactory payment processing partner, an analysis of its current pricing structure, and how to handle various technical matters related to the specific services the entity wishes to offer, such as terminal fulfillment for card-present transactions. Ultimately, a payment facilitator needs to be able to handle the full life cycle of the merchant.
To get more information about becoming a payment facilitator, please, feel freely to contact us.