And, thats the end of the story of the merchant and the credit card account. Need I bother to say whether or not the merchant lived happily ever after?
Summary:…………………………. The major players in the Merchant Credit Card Game are most commonly: The Merchant, the ISO (Independent Service Organization), the Card Processor, and the Bank. The real Bank which can handle your credit card transactions is rarely if ever your local bank. Nonetheless, your local bank will happily accept your Merchant Credit Card Application. However, your application is most likely simply being brokered out to an ISO, or worse to an agent of the ISO. This is because the ISO, itself, can have agents acting as brokers within its own organization. Classic examples of the counterproductive Bank/ISO/ISO Agent arrangement abound on the Internet. The ISO, in most cases, is the closest you will be able to get to the credit card Bank. Most Bank’s attitude on the matter goes something like this: “Bring me the head of Joe Vallaci!” Oh no, sorry, that’s wrong. I’m obviously getting two very similar business organizations mixed up. The quote I was looking f
Related Questions
- And, thats the end of the story of the merchant and the credit card account. Need I bother to say whether or not the merchant lived happily ever after?
- How long does it typically take a credit card transaction to clear a merchant’s account?
- When are credit card charges credited to merchant’s account?
