Flying Pig™ helps you understand the payment processing industry
Let's walk through how payments are processed, the key players involved, the technology that drives this essential part of the global economy, and how Flying Pig fits into it all.
Overview
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.
More about ISOs
ISOs, or independent sales organizations, are third-party companies that sell credit card processing services on behalf of banks or payment processors. ISOs act as an intermediary between merchants and processors. ISOs offer more personalized solutions than if a merchant were to work directly with a bank or payment processor. ISOs are closer to the merchant, which means they care more.
Why work with an ISO?
Working with an independent sales organization (ISO) provides many advantages for businesses, especially those looking for tailored payment processing solutions and reliable customer service. Here are some key reasons why a business might choose to work with an ISO:
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Pricing Flexibility
ISOs offer more flexibility when it comes to choosing your payment plan and contract terms.
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Customer Service
ISOs provide customer support and service to their merchant clients, assisting them with issues related to payment processing, such as technical support, billing inquiries, and dispute resolution.
![](https://images.prismic.io/flying-pig/65aae7a738f662e9dd211948_bank.png?auto=format%2Ccompress&fit=max&w=1080)
Partnership with Acquiring Banks
ISOs have partnerships with one or more acquiring banks. These partnerships allow them to offer merchant accounts and payment processing services to businesses.
![](https://images.prismic.io/flying-pig/65aae7a838f662e9dd211949_laptop-mobile.png?auto=format%2Ccompress&fit=max&w=1080)
Equipment & Software
ISOs offer a range of products and services, including credit card terminals, point-of-sale systems, online payment gateways, and other payment processing technologies.
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Compliance & Security
ISOs ensure that their services comply with industry standards and regulations, such as the Payment Card Industry Data Security Standard (PCI DSS).
![](https://images.prismic.io/flying-pig/65a005607a5e8b1120d5736d_apps-add.png?auto=format%2Ccompress&fit=max&w=1080)
Customized Solutions
ISOs provide customized solutions to meet the specific needs of a broad spectrum of businesses.
What is Flying Pig™?
Flying Pig is a superior ISO, which streamlines your payment processing with thoroughly vetted rates and quality equipment. Our partnerships with some of the industry's best processors, along with our dedicated customer service team, ensures top-tier processing solutions for your business. Flying Pig offers custom payment plans, clear billing, no cancellation fees, and more, all in one place. Get started by telling us about your business.
Get started with Flying Pig ™today.
![Flying Pig Payment Processing Logo](https://images.prismic.io/flying-pig/Zha9ejjCgu4jzu3l_TM-FlyingPig-IconColor-min.png?auto=format%2Ccompress&fit=max&w=3840)