With over three decades of combined expertise in the payment processing industry, our team at Flying Pig is dedicated to providing businesses with merchant services that are reliable, innovative, and impossibly simple.

Payment processing involves verifying, approving, and funding transfers between buyers and sellers. This process involves several key players and technologies that work together to ensure smooth, secure, and efficient transactions.

Modern commerce is built upon payment processing. It enables businesses to accept payments, ensures transactions are secure, and helps maintain the efficient flow of money in our economy.

Merchants are businesses or individuals selling goods or services. They initiate the payment processing cycle by accepting payments from customers.

Customers are individuals or businesses purchasing goods and services. They provide payment through various methods, including credit cards, debit cards, digital wallets, and more.

Payment gateways are responsible for securely transmitting payment data from the merchant to the processors (like MiCamp) and authorizing transactions online. Many offer hardware solutions as well.

Acquiring banks, or merchant banks, are financial institutions that provide payment processing services to merchants. They are responsible for maintaining merchant accounts that allow businesses to accept card payments. Examples include Fiserv, Barclaycard, etc.

Issuing banks are financial institutions that issue credit or debit cards to consumers. They are responsible for approving or declining transactions based on the customer's available funds or credit limit.

Card networks, such as Visa, MasterCard, and American Express, facilitate communication between acquiring and issuing banks. They set the rules and standards for card transactions and ensure the transfer of funds.

An ISO, in payment processing, stands for "independent sales organization." It refers to a third-party company authorized to sell or lease credit card processing services on behalf of acquiring banks or payment processors. ISOs act as intermediaries between the merchants who want to accept credit card payments and the financial institutions that process these transactions. They play a crucial role in expanding the reach of payment processing services, especially to small and medium-sized businesses. Independent sales organizations sell these processing services to merchants. Examples include Flying Pig, VersaPay, etc.