The acquiring space has matured significantly over the last several decades. With that maturity comes the need for a revitalized approach to address the needs and requirements of their clients. ISOs and acquirers that were once defined as purveyors of payment solutions are now finding that, to survive, they must bundle and package the most exciting auxiliary products and services to attract the broadest customer base, recruit and retain the best agents, and compete with both direct competitors (other ISOs) and indirect competitors (banks).
Here’s a summary of the article, with a link to the full article below.
- Prioritize the human element: Promote high-touch, boutique service to increase engagement.
- Strengthen strengths, address weaknesses: Identify core competencies and maintain focus on evolving them. Identify non-core competencies and determine whether to discontinue or outsource.
- Expand your definition: Identify the larger opportunity in front of you.
- Deliver value beyond expectation: Find meaningful value-adds to pair with your brand.
Read the full article on Green Sheet.