A major reason why it has become easier for small merchants to accept credit cards in recent years is that nonbank companies like PayPal and Square have been allowed by the card networks to serve as ____, which means that _____.

Group of answer choices

master merchants or merchants of record; there is no need for an acquiring bank to be involved in the payments

payment gateways; they handle all the processing without receiving or paying out funds

ISOs; they help find an acquiring bank for the merchant

master merchants or merchants of record; they enter into a contract with an acquiring bank in place of the merchant