Are You Leaving Money On The Table When It Comes To Payment Processing?
By Brian Albright, Business Solutions magazine
Add-on services and tiered pricing can help VARs generate higher recurring revenues.
Many ISVs and VARs have approached payment processing from a largely payment-agnostic standpoint, serving as much as a referral service as a partner with their vendors. Agent processing companies are now crossing into the VAR space with low-priced, simple-to-implement solutions. VARs can take action now to protect their client base and boost payment processing revenues.
By establishing more equitable partnerships with their payment processing vendors and providing more value-added services, resellers can boost their payments revenues and position themselves as a trusted source for their retail clients. “It’s important to spend the time identifying payment companies that have the resources and partnering mindset that allow ISVs and VARs to cross over from referral partner to selling agent,” says Steve Rizzuto, president, commercial services division, TransFirst. “This will allow the ISV/VAR to garner the revenue growth necessary to replace some core hardware and software revenue being lost while the industry moves to an ‘as-a-Service’ model. The traditional retail systems ISV/VAR organizations need to move into payments. They can not only survive but also can thrive with the help of the right payment processing partner.”