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Merchant Account Glossary:

MSP Definition

Merchant Account MSP Explained:

What is an MSP? “MSP” stands for “MasterCard Service Provider” and is a formal designation that companies must have in order to resell MasterCard Credit Card Processing under their own company names. MasterCard displays its registered and approved MSPs on the MasterCard Service Provider List and merchants are advised to only work with registered MSPs. Visa has a similar certification called an “ISO.”

MSPs represent an Acquiring Bank, or Processor, or both. MSPs are also allowed to set terms of their own merchant account contracts and mark up processing rates and fees. Although a Processor can also be an MSP, most MSPs are solely sales organizations that act as “middle men” that pair point-of-sale solutions (terminals, payment gateways, mobile accessories, etc.) with merchant account providers and processors.

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About Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

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