How ISOs Can Sell Business-Building Solutions, not Payment Terminals

November 27, 2019

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The founding principle of every relationship between an ISO and a merchant is simple: The former will always be there to support the latter. A key component of this partnership is a POS solution with great service, intuitive design, and trackable insights. With this tool in hand, your merchants will be on the road to growing their customer base and their business.

So how can ISOs help these merchants succeed through long-term relationships?

Get Them Started

Be a partner to your merchants and help them work through basic questions they will encounter when first getting started:

  • How do individual credit cards stack up in terms of fees and processing rates? Which are the best fit for their business?
  • What terminals should they use? What other equipment is needed?
  • If a customer has an issue or wants to dispute a charge, who is their point of contact?

Give Them Flexibility

The modern shopper wants to pay on their terms—when, where, and how they want. Your POS system has the potential to give them the ability to do just that.

How?

  • More options. Never have to say, “I’m sorry, we don’t accept that,” again. With a solution that is built to adapt to changes in the marketplace, you can accept any form of payment, whether it’s card, cash, or contactless.
  • Faster transactions. Every purchase includes surcharges, discounts, and taxes, simplifying the process for both patrons and staff. The result is a streamlined sale with fewer errors and less time spent in line.
  • Mobile flexibility. Whether they’re at the counter or remote at a trade show or an outdoor market, your merchants want to take payments from anywhere. Every team member becomes a cashier with a tap on their phone or tablet, cashing out customers and checking inventory, sales, or stats.
  • Dynamic dashboard. Make decisions with data, not assumptions. Your merchants will have the ability to get transactions, customer details, and trends in real time. They can also create comprehensive reports, keep an eye on their finances, and add new users, all from the comfort of their own home, office, or vacation spot.
  • User-friendly setup. With an intuitive interface and clear tutorials, setup takes as little as five minutes.

Give Them Data

Data is the lifeblood that keeps the heart of your merchants’ businesses beating. It takes ordinary, individual sales and translates them into patterns and predictive models that can streamline processes and increase employee productivity. It’s therefore no surprise that 81 percent of retailers and manufacturers collect data and 76 percent say that it’s a key component to their success.

The analytical possibilities are nearly endless, with detailed sales information available by month, day, or hour, and by product and supplier. Analyzing data reveals how each piece of inventory performs and which employees most effectively move it, allowing you to strategically order product and arrange staff.

When filtered through the lens of data, a business’s pain points (and how to fix them) become apparent very quickly. No matter the issue—a lackluster loyalty program or poor sales on Sundays—real-time numbers let you suggest new ways of looking at problems that can yield quick solutions.

Protect Them from Risk

For those merchants just starting out, you can provide a lifeline that lets them accept credit card payments even if they still have low sales volume and lack the capacity to handle risk management in the event of chargebacks.

Your PCI-compliant POS solution gives them peace of mind that their customer information and payment data is fully protected.

Provide Support

Long-term merchant relationships are far easier to build when they rest on the foundation of a great payment experience. From the first conversation to closing the deal to getting the system up and running, your merchants will feel safe and secure in your hands.

And that’s just the beginning. A great onboarding experience should lead to a trusted partnership in which they can rely on you to answer questions quickly or take their call when larger issues emerge. ISOs who simply take the money and run don’t last long.

Empower Them with Apps

A powerful POS system solves a very real problem for many smaller merchants: They have big dreams but lack the budget or tech know-how to create their own payment tools. This is where a diverse and deep app marketplace becomes invaluable. Now, services such as inventory management, accounting, enhanced productivity, and loyalty programs are all just a few clicks or taps away.

Poynt’s App Center is populated with a wide variety of options, created by a community of over 8,000 developers, which help support merchants and extend their capabilities.

Address Their Complete Need

You can help your merchants build their businesses and pave their way to success. With payment solutions like Poynt, they can facilitate easy transactions, access around-the-clock reporting and analytics, and do it all with a friendly and accessible user experience.

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