Results 1 to 4 of 4
  1. #1
    Join Date
    Aug 2003
    Posts
    68

    meaning of "ISO/MSP"?

    What does the acronym ISO/MSP mean? What does it entail in the relationship between a merchant account provider and a financial institution?

    Thanks

  2. #2
    Join Date
    Oct 2004
    Location
    US
    Posts
    319
    A quick explanation for you:

    Member Service Provider - (MSP) the financial institution through which Visa and MasterCard registration is being obtained, and also the party who is making access to acquiring services available through that membership.


    Independent Sales Organization - (ISO) would be classified as a registered entity with Visa and MasterCard and sponsored by a member financial institution for purposes of securing point-of-sale card processing business.

    Does that help?
    Last edited by multitaskerVic; 11-20-2004 at 01:02 PM.
    payment processing made simple -since 1998
    *US, Canadian, EU and Offshore Merchant Accounts
    *High-Risk OR mainstream
    email me anytime or skype: victoria.kozub

  3. #3
    Join Date
    Aug 2003
    Posts
    68
    Pretty clear. Thanks!

  4. #4
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,376
    Actually... an ISO and MSP is the very same thing. They don't have different definitions - they are the same thing with ISO simply being the Visa term for it and MSP being the MasterCard term for it.

    As ECS mentioned above, ISO means "Independent Sales Organization" and MSP means "Member Service Provider."

    An ISO/MSP is any organization that is registered respectively with Visa, MasterCard and a sponsoring Member Bank and who is charged with the duty of acquiring merchant contracts and supporting them on behalf of their sponsoring bank.

    An ISO/MSP is not a financial institution but rather a business that provides services "on behalf of" a Member Bank. Only an actual financial institution can become a Member Bank with Visa/MasterCard.

    Sometimes ISO/MSP's loosely refer to themselves as "ISO's" or "MSP's" instead of the full term but it all means the same thing - a company that works on behalf of a bank to setup and manage merchant accounts.
    CDGcommerce.com - Trusted Merchant Account Solutions since 1998
    Many thousands of successful, growing businesses benefit from our expertise every day. You can, too!
    We help merchants to eliminate gateway costs, reduce & mitigate fraud and achieve streamlined PCI compliance.
    Learn more today at http://www.cdgcommerce.com - we look forward to helping your business grow!

  5. Newsletters

    Subscribe Now & Get The WHT Quick Start Guide!

Related Posts from theWHIR.com

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •