The payment’s landscape is constantly evolving, and Independent Sales Organizations (ISOs) are playing a crucial role in facilitating secure and efficient transactions for businesses of all sizes. Now more than ever, businesses are facing challenges keeping up with customers’ demands for contactless payments in-store, as well as providing online ordering. As ISOs navigate the complex world of payment processing, it becomes increasingly important for them to align with a payments partner that meets these demands and offers processor agnostic capabilities.
Processor Agnostic is the practice of allowing any or multiple payment processors to function within the payment platform. In order to have greater flexibility and more control over the processing fees processors and sponsor bank risk tolerance and ability to mitigate risk ISOs should choose a payments partner who can work with many different payment processors – not just one. This is important because payment processors set fees in different ways, such as charging a flat fee or a percentage per transaction, resulting in paying thousands more each year. Additionally, processors have different risk management tools and are better at identifying fraud to quickly mitigate it.
In this article, we will explore why ISOs should consider partnering with a processor agnostic payments partner, and how Amaryllis stands out as a leading provider in this space.
1. Flexibility and Choice: By partnering with a processor agnostic payments partner, ISOs gain the advantage of flexibility and choice. Rather than being tied down to a specific payment processor, they can offer clients a variety of options, tailoring solutions to meet specific business needs. This flexibility allows ISOs to accommodate diverse industries, business models, and geographic locations without limitations improved by a single processor’s capabilities.
2. Customer Experience: Partnering with a processor agnostic payments provider minimizes the risk associated with relying on a single processor. In the event of any technical issues, downtime, or disruptions, ISOs can quickly switch between multiple processors seamlessly, ensuring uninterrupted payment processing for their clients. This redundancy significantly reduces the risk and revenue loss and helps maintain customer trust.
3. Competitive Pricing: By leveraging multiple processor relationships, ISOs can access the most favorable pricing structures, including interchange optimization, volume discounts, and reduced fees. This enables ISOs to pass on cost savings to their clients, enhancing their value proposition and fostering long-term relationships.
4. Advanced Technology: By choosing a partner with processor agnostic capabilities, ISOs can offer their clients access to cutting-edge payment solutions, including contactless payments, mobile wallets, tokenization, and secure payment gateways. This empowers businesses to deliver start-of-the-art payment experiences to their clients, ensuring they remain competitive and at the forefront of technological advancements.
Amaryllis Helps ISOs Future-Proof Their Business
Independent Sales Organizations must adapt to meet the ever-changing needs of their clients. Partnering with a processor agnostic payments partner, such as Amaryllis, empowers ISOs with the flexibility, scalability, and competitive pricing required to stay ahead of the competition. Amaryllis Intelligent Payment Facilitation™ platform is designed to help businesses improve customer retention and increase transaction approval rates. Amaryllis provides seamless transactions from one processor to another with no downtime required. Processor agnostic capabilities help ISOs future-proof their business and offer a best-in-class payment experience that drives growth and success.