The bank that provides the card to the cardholder and approves or declines transactions during authorization. Issuers manage cardholder accounts, fraud rules, and disputes.
A pricing model where the merchant pays the true interchange and network assessments plus a transparent processor markup. It offers visibility into underlying costs and can be more cost-effective for many merchants.
A fee paid by the acquirer to the issuer for each transaction, set by the card networks and varying by card type, transaction method, and data provided. Interchange is the largest component of most merchant processing costs.
A company that resells merchant services and supports merchant onboarding, often under the umbrella of an acquiring bank. ISOs may provide sales, support, and relationship management.