What VeriFone Can Teach Us About Payment Processing

By The Business Solutions Network

I recently sat down with Scott Henry, VeriFone’s director of product marketing, and had a discussion regarding the relationships between POS VARs and traditional ISOs/agents.  When I asked Henry if he thought it was easier for a POS VAR to learn payment processing than it was for an ISO/agent to learn POS technology, he explained it like this:

“As payment solutions providers, we are keenly aware of the complexities of our business.  A POS VAR doesn’t have to become a payments expert to include payment processing in what they sell.  It is fairly easy for a POS VAR to learn enough to generate referrals for payment processing, and rely on a partner to quote/close deals. For ISOs, it’s a little more challenging to work with a partner to include POS technology in what they sell, because the hardware and software required varies by different merchant type.  They may have to learn a little bit about several systems, and possibly partner with more than one local VAR, to be able to include POS in their proposals for every customer.”

I don't know what you think, but that sounds like a pretty sound testimonial for the ability of POS VARs to sell payment processing. We've said it multiple times in the pages of Business Solutions: If you aren't selling payment processing, you're missing a huge opportunity. And, as Henry states, oftentimes your payment processing partner(s) can help you win and even close this business.

Read the rest of Scott’s interview to hear his advice on the other topics surrounding POS VARs and their selection of processing partners.