According to many industry experts, Independent Service Organizations (ISOs) must find the right niche in order to remain viable in a changing marketplace.
In a recent article for ISO and Agent, Autumn Cafiero Giusti said that as more merchants started using mobile payment system, it would be vital to stay relevant. She writes that with firms such as Google, Isis and PayPal all introducing programs for payment, some ISOs have feared that their role would diminish.
However, insiders say that merchant services providers still have an important part to play in the sector.
“Right now, those big players are not opening their arms and saying welcome to the ISOs,” said Steve McRae, CEO of Merchant360 in an interview with the source. “But the ISOs are the ones closest to the merchants. They can provide a [service] that can make the Google or PayPal wallet work, but also make their own [service], such as a coupon or loyalty application, work as well.”
Leaders in the payment industry recently came together in Salt Lake City for the Smart Card Alliance 2012 Payment Summit. Executives from Isis, PayPal, MasterCard and Visa discussed the changing landscape.Back To Blog