Definitions for "Independent Sales Organization"
An organization that offers to process credit card transactions in exchange for transaction fees and/or a percentage of the sales.
(I.S.O.). Represents a Bank or Bank/Processor alliance. It provides a variety of merchant functions (i.e. processing) on behalf of the acquirer and is allowed to mark up the Fees and sign up merchants.
A third-party company that provides services to merchants on behalf of the acquiring bank. These services include merchant accounts, funds processing, and account activity reporting.