As an ISO, you know how critical it is to incorporate the right merchant processing solution for increased revenue and growth. Competition in the payments industry can be fierce, as ISOs experience increased pressure to bring in more and more revenue. The key to success is finding ways to increase your profit margin through merchant processing. How does your current merchant services provider give you the edge in your market and allow you to retain profit that you’ve earned?
There are many considerations when determining if you are getting the most revenue from your merchant services program. Choosing the right partner is key to increasing your bottom line. Do you have the flexibility you need to grow, the right product set and the latest technology? If not, it’s time to reconsider your merchant services partner.
Let’s review some of the key areas of your business to determine if you are truly able to increase your profit margin.
1. Customization and Flexibility:
Perhaps the most important component is customization and flexibility. Many providers of merchant services today provide a one size fits all solution. This puts your business into a box and doesn’t allow for a program that is tailored to your business and sales strategy. If you sell to a specific niche market, have a proven way to sell or package merchant services with other products, you need flexibility in the way that you offer merchant services. Are you feeling hamstrung by your current partner and unable to reach a higher level of profit? If so, you are lacking a partner that can create a customized solution that meets your merchant processing business needs.
2. Latest Payment Products:
Every partner will tell you that they have a full product suite available for you to sell. However, you need to do your due diligence to compare merchant accounts and ensure that the full product suite matches what you need to effectively sell and service your customers. The more comprehensive the product suite, the more you can add to your profit. It’s critical to be able to access payment solutions for card present and card not present merchants. In addition, ensure that you have access to integrated payment solutions allowing you to market to ISVs and VARs, broadening your sales and marketing strategy providing you with a new revenue stream to increase profit.
3. Technology:
Payment technology is ever changing and there is a constant focus on security and new tools to bring payments to the next level. Are you able to offer increased security solutions that add value to your merchants as well as add money to your pocket? If not, you need to be looking for a partner that can provide you additional security and payment technology that will differentiate your business and help you increase cash flow.
5. Customer and Sales Support:
You can have access to all of the best products and technology in the world but if you don’t have the support you need, you’ll be fighting an uphill battle. Ensuring you have a partner that will support you in each stage of your growth is key. Access to merchant services payment experts that can support and provide hands-on help will help your organization grow long term.
At First American Payment Systems, we provide customized merchant services solutions with attractive pricing options to help ISOs succeed. Our scalable products are aimed to increase your margin and support the growth of your business.
If you’re looking to generate additional revenue and profit, look no further. Contact us today and get set up with our leading merchant processing solutions!
If you’re an ISO who is looking to generate additional revenue while gaining the business of new merchants, look no further. Contact us today and get set up with our leading merchant processing solutions!
