An agent bank is a bank that has the authorization by an individual to act on their behalf. A bank will have permission to conduct specific services and duties for the individual or businesses. Businesses use agent bank to provide services related to payment processing. They will not finance receivables for a card, but it will act as the merchant depository and will issue the cards. Few banks are actually principle issuers they are usually agents.
Services can include the following:
* Back-office services
* Card processing
* Verification services
* Pre-paid card services
Agent banks can create a merchant service program that is seamless. Customers receive excellent services with merchant accounts that are serviced by professional processing companies and customers will not get the feeling of being passed around when they need customer service. Agent banks implement programs like pre-paid card programs can include the following services:
* BIN sponsorship
* Approval for associates
* Set up of programs
* Customer service set up
* Production for card and card carriers
* VRU balance checking from website
* Proprietary management of inventory
A bank will receive compensation for the services that they provide. This is worth it to many companies because the services that they receive for the compensation. The services provided assure secure payments and prompt payment processing. When a bank becomes a partner in processing, the processing company may handle customer service and make live customer service available everyday, all day.
A payment processing company that services the merchant account at the bank will make sure that communication is open between the bank and the customer. The bank will receive marketing material and prompt updates of program changes.
Agent Banks and Payment Processing
No hay comentarios:
Publicar un comentario