Independent Sales Organization
An independent sales organization (ISO) is a third party company that serves as a bank or other financial institution and sells certain services. One of these services is the provision of merchant accounts.
How does an independent sales organization work?
These companies establish partnerships with various banks to find, manage and open merchant accounts. Independent Sales Organizations represent and operate on behalf of a particular financial institution, establishing partnerships with various PSPs, banks and other financial institutions. In addition to processing payments, ISO may also offer its own services for processing merchant accounts. In this case, the company assumes all risks associated with the services provided.
In order to be able to provide its services, ISO must be a member of the VISA or MasterCard association.
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