Independent Sales Organisation (ISO)
What is an Independent Sales Organization (ISO)?
ISO (also known as Independent Sales Organization and Member Service Provider) is an organization that works on behalf of the credit card company or bank to create new client relationships. It is the third-party organization that represents a bank or other financial institution that sells and promotes its services. ISO sets up partnerships with different banks to find the best solution for every merchant. It also opens and manages merchant accounts on behalf of the financial institution it represents. The ISO acts as a representative of any financial institution with which they have an agreement.
What is the main goal of ISO?
The main goal of an independent sales organization is the administration of merchant services. The key tasks of ICO include the following:
- soliciting new customers;
- providing excellent customer service;
- finding or issuing functions;
- obtaining cardholders;
- arranging terminal purchases or leases.
Why does one need the ICO?
With the rapid growth of e-commerce, the role of ISO is more than crucial. Partnering with the right business loan provider enables one to enjoy the best commissions and offerings from top providers in the U.S. and abroad. Partnership with ICO also allows merchants to offer more products and services to your customers and meet their needs successfully – giving you a competitive edge.