What is a merchant service provider (MSP) primarily known for?

A merchant service provider (MSP) is primarily known for providing transaction processing solutions to merchants. This involves facilitating the acceptance of various payment methods, including credit and debit cards, through secure payment processing systems. MSPs play a crucial role in the payment ecosystem by enabling businesses to electronically process payments, manage transactions, and access necessary reporting tools.

The services offered by MSPs may also include support for point-of-sale (POS) systems, virtual payment gateways, and mobile payment solutions, which are integral for businesses that want to efficiently handle customer transactions. Overall, the focus is on streamlining the payment process for merchants, ensuring secure and timely transactions.

Other roles like offering credit checks or issuing credit cards fall outside of the primary functions associated with MSPs, as they concentrate mainly on the transaction processing side of payment services. While creating online shopping platforms is an area of focus for some service providers, it does not accurately reflect the core function of MSPs, which is centered around processing payments rather than developing e-commerce infrastructure.