Merchant Service Provider Definition. Financial consumer agency of canada as a merchant, the contract you sign for processing credit and debit card payments received by your business is very important. This term describes the range of services and hardware and software products that allow merchants to accept and process credit or debit card transactions.
Abbreviated as msp, a merchant service provider is a company or organization who provides transaction processing solutions to merchants. Accepting payments from customers via credit, debit, and electronic payments Payment processors handle the entire payment transaction to ensure merchants get paid.
Stripe is a leading merchant service provider and online payment solution for small businesses in ecommerce, saas (software as a service) and subscription services.
A few services it offers include: To understand what a merchant services provider is and what it can do for your business, you’ll first need to understand the concept of merchant services. Merchant account providers give businesses the ability to accept debit and credit cards in payment for goods and services. Definition of merchant services provider: