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What is FinTech and how is it affecting the payments industry?

Posted by Brandes Elitch on Fri, Nov 04, 2016 @ 03:30 PM

We get calls from our ISOs and MSPs — the people who mainly sell credit card processing services — asking: “What is FinTech, and why am I hearing so much about it?”

Salespeople working for ISOs (independent sales organizations) are focused on the here and now, how many merchants they can close this month, and how much gross margin they can produce for their company in each quarter. They are, as entrepreneur/coach Michael Gerber says, “Doin’ it … Doin’ it … Doin’ it.”

For the moment, FinTech (financial techology) is outside their scope, but the future is worth considering because it will ultimately impact them sooner rather than later.

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Tags: FinTech

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