Agent Payment Processing
Agent Payment Processing refers to a scenario in which a sales agent, also known as an Independent Sales Organization (ISO) or Member Service Provider (MSP), provides payment processing services to merchants on behalf of an Acquirer or Payment Processor.
The agent’s responsibilities typically include recruiting new merchants, setting up merchant accounts, and providing ongoing customer service.
The agent acts as a go-between for the merchant and the Acquirer or Payment Processor. They can help merchants understand the various options for accepting card payments, assist them in choosing the right payment processing solutions for their business, and help them navigate the often complex world of payment card industry compliance.
In return for their services, agents receive a commission or a percentage of the transaction fees charged to the merchants they serve. This payment model can provide a lucrative income for agents who are able to build a large portfolio of merchant clients.