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The Ultimate Guide to Accepting Credit Card Payments

Stax

The issuing bank This is the cardholders bank or the financial institution that issued their credit or debit card. Credit card associations This is the card network or card brand that powers the credit card for the cardholder. Think: Visa, Mastercard, American Express, and Discover.

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Everything You Need to Know About Credit Card Processing

Stax

Here are the inside details about what defines a payment solutions provider, how processing works, the credit card processing fees , risks, and more. TL;DR There are several parties involved in credit card processing. They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor.

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What Is an ISO? Everything You Should Know about Independent Sales Organizations

Stax

Register with the card networks After securing bank sponsorship, you’ll need to register with the major card associations (like Visa and Mastercard). Mastercard uses the term Member Service Provider (MSP) for the same type of entity. Visa refers to these entities as ISOs, while Mastercard uses the term MSP.

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How Payment Facilitation Works: An Overview for SaaS Providers

Exact Payments

Issuing banks Issuing banks, or issuers, are entities that issue customer credit cards and handle the transfer of funds to the merchant’s account. Credit card networks Also known as credit card associations, credit card networks manage the technological infrastructure and regulations of credit card processing.

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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

BIN Sponsorship A service provided by payment processors that enables merchants to accept payment cards from multiple card issuers. Bluetooth Card Reader A wireless device that connects to a mobile device or computer to process payment card transactions.

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