Are you curious to know what is PAI ISO on bank statement? You have come to the right place as I am going to tell you everything about PAI ISO on bank statement in a very simple explanation. Without further discussion let’s begin to know what is PAI ISO on bank statement?
If you’ve ever looked at your bank statement and seen a charge labeled “PAI ISO,” you may be wondering what it means. In this blog, we’ll take a closer look at what PAI ISO is and why it might appear on your bank statement.
What Is PAI ISO On Bank Statement?
PAI ISO stands for Payment Alliance International Independent Sales Organization. Payment Alliance International (PAI) is a company that provides payment processing services, such as debit and credit card processing, to merchants. An independent sales organization (ISO) is a company that partners with PAI to sell their payment processing services to merchants.
In other words, if you see a charge labeled “PAI ISO” on your bank statement, it means that a merchant you did business with used PAI’s payment processing services through an independent sales organization.
Why Would PAI ISO Appear On My Bank Statement?
There are several reasons why you might see a charge labeled “PAI ISO” on your bank statement. Here are a few possibilities:
- You made a purchase from a merchant who uses PAI’s payment processing services through an independent sales organization. When you made the purchase, the charge was processed through PAI’s system and appeared on your bank statement as “PAI ISO.”
- You signed up for a subscription service or recurring payment that is processed through PAI’s system. Each time the payment is processed, it appears on your bank statement as “PAI ISO.”
- Your bank or credit card company uses PAI’s payment processing services to process transactions. In this case, any charges you make will be processed through PAI’s system and appear on your bank statement as “PAI ISO.”
In any case, if you see a charge labeled “PAI ISO” on your bank statement and you don’t recognize it, you should contact your bank or credit card company to investigate the charge and make sure it is legitimate.
Conclusion
PAI ISO stands for Payment Alliance International Independent Sales Organization. It is a charge that may appear on your bank statement if you made a purchase from a merchant who uses PAI’s payment processing services through an independent sales organization, signed up for a subscription service that is processed through PAI’s system, or if your bank or credit card company uses PAI’s payment processing services to process transactions. If you see a charge labeled “PAI ISO” on your bank statement and you don’t recognize it, be sure to contact your bank or credit card company to investigate the charge and make sure it is legitimate.
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FAQ
What Is PAI ISO For In Banking?
As an ISO award-winning processor, PAI provides secure, affordable processing that puts more money in your hands. PAI provides a simple, secure web-based real-time 24/7 reporting tool, PAIReports, so you can track the profitability of your ATMs from anywhere, at any time.
What Is Payment Alliance International?
Payment Alliance International, Inc. provides financial services. The Company offers credit card processing, e-commerce and telephone order, mobile solutions, alternative business financing, data breach security, and check services. Payment Alliance International serves customers worldwide.
What Is An ISO Transaction?
In essence, ISOs are liaISOns between merchants and payment processors who resell services on behalf of one or more partners in exchange for a small piece of the revenue from processed transactions.
What Are Examples Of ISO Banking?
Some banks are acquirers, but most banks and credit unions are ISOs. CIBC, for example, is an ISO of USA acquirer Global Payments. Another example is that Scotiabank is an ISO of USA acquirer Chase. Most banks will brand the products of acquirers so it is very difficult to know if a bank is an acquirer or an ISO.
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