By Steve Rizzuto, president, commercial services division, TransFirst
Do you include credit and debit card processing as part of your product offerings? If not, you could be missing out on a potential opportunity to increase your revenue and strengthen your position as a trusted adviser to your customers. Did you know that TransFirst is a leading provider of integrated payment processing? We know how to help you grow your business by making your clients’ businesses function more efficiently and more cost-effectively.
TransFirst recognizes the core competencies and business models undertaken by many MSPs (managed services providers) and value-added resellers. As trusted advisors, these organizations have the need and opportunity to generate significant cash flow by offering seamless transaction processing services to clients. Traditional approaches have led some companies to offer a very high-level of support across marketing, integration, and sales support — we also see these as critical and take pride in delivering the same. In addition, we see an evolving marketplace — one in which IT and software professionals have a keen sense of how recurring revenue in payment models can build over time and contribute significant revenue to one’s core business practices. It is with this in mind that TransFirst endeavors to be different.
Working together, TransFirst and the reseller community can develop tactics for the reseller to bring payment services in-house, to garner more revenue than traditional referral models have allowed. What does that mean? Well, TransFirst would educate and give the reseller the tools to effectively price and board a merchant without the processor intervention. It is this intervention that has kept the early adopter reseller community in minority revenue share positions historically.
We encourage our partners to do the small amount of work involved to board an application through our automated boarding tools — with some initial training, almost all merchants can be accommodated with minimal price and fee negotiations. Why not make the minimal investment, with our strong assistance, to help reap the majority of the revenue share? Putting a program together is not a difficult task for most VARs we have worked with that have made this transition. Training and marketing support are key to our approach, along with the desire to sell-through this service, as most MSPs have done across various product lines.
As a practical example, TransFirst has allied with many VARs in the healthcare industry, and it is apparent that the workflow in a medical practice centers around the practice management system (PMS) — a VAR core service. TransFirst has developed a robust payments gateway to ease integration work from the old standard dial builds, built out easy-to-use APIs, and consulted hand-in-hand with several early PMS targets on end user interface and flow. Since 2005, TransFirst has provided hundreds of integrations to leading healthcare systems. The strategy has created a win–win environment that has led to more than 38,000 healthcare merchants processing $6.6 billion in annual volume. We can apply this strategy to any vertical where payments are an important inclusion for true managed services. Over the past five years, TransFirst has applied that same success into countless commercial integrations. We can help you grow your business and enhance the product and service offerings you sell your clients.
We are here to help — find out more about integrated payment processing solutions through TransFirst. Contact us at (866) 969-3350 or SalesRecruiting@ TransFirst.com.