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Acquiring Industry Convenes at 2017 MWAA Conference

Posted by Joe Gargiulo | Sat, Jul 29, 2017 @ 09:45 AM

acquiring industryThe Midwest Acquirers Association Conference concluded two days of programming on July 19 after celebrating its 15th anniversary and bringing new insights to independent sales organizations (ISOs) and merchant service providers (MSPs) in the acquiring industry. The event offered seminar sessions, an exhibit hall, an awards presentation, special guest speakers and multiple networking opportunities. The venue was the well-appointed Chicago Marriott Downtown Magnificent Mile.

CrossCheck’s Vice President of Partner and ISO Relations Travis Powers was at booth UE27 where he discussed the company’s policy of offering lifetime residuals to ISOs as well as a comprehensive ISO training program that encourages merchant retention.

“The conference was well-attended and very successful for CrossCheck,” said Powers. “We connected with a great gathering of ISOs who enjoyed the conference programming.”

Technology in the Acquiring Industry

acquiring industryThe programming reached a pinnacle during the keynote address delivered by Executive Vice President Juan Ortiz of BluePay Processing. His presentation, “Inciting Innovation In Yourself and Your Company,” offered insight into the acquiring industry lagging behind payments and financial technology advancements. Ortiz maintains that individuals leading or working for acquiring companies are “not making the full-blown effort to become engaged in current technology. … You have to get on board with technology and obtain as much knowledge as you can. You all have to be on social media and brand yourselves."

ACH Changes Affecting the Acquiring Industry

Another pinnacle was achieved on day two during the panel discussion “Why ACH Is The Next Payment Game Changer.” Moderator John Stewart, editor in chief at Digital Transactions, lead a panel composed of industry experts David Barnhardt, VP of Products at GIACT; Jeremy Epstein, managing director at The Private Bank; and Kim Olszewski, VP of Operations at iStream Financial Services.

acquiring industryThe session was heavily promoted on Twitter and Facebook using the pitch: “Everything old is new again! From Same Day ACH to ACH Verification, ACH is changing fast and can be the key to enhancing your portfolio and broadening your reach.”

The group discussed the advantages and challenges of adding ACH to an ISO’s suite of payment options.

"ACH is not going to be a big revenue driver,” said Epstein, “but there are processors out there losing money because the merchants need ACH and they are not providing it. … Because same-day ACH is quickly becoming an integrated solution, it stands out as an ideal service to fill out an acquirer's product suite.”

Other MWAA Conference Highlights

acquiring industryThis year’s event also offered a diverse program addressing some of the top challenges facing the acquiring industry: Avoiding Litigation in Your ISO Business; Game Changer: Convenience Fees for Merchants; Payment Facilitator Fact and Fiction; and Cross-Selling Still the Key to Higher Revenue and Retention. This last session is of note because “CrossCheck is still the key to higher revenue and retention.”

In addition to lifetime residuals and training, CrossCheck promotes higher ISO revenue via:

  • Support — individual phone support, webinars and POS materials to help ISOs sell.
  • Merchant retention — many merchants use CrossCheck services for extended periods (sometimes over several decades), thus enhancing the lifetime residuals for ISOs.
  • 24/7/365 merchant assistance via the Customer Service department to further encourage merchant retention.

Learn more about CrossCheck ISO opportunities by downloading our free guide or contacting Travis Powers, VP of Partner and ISO Relations, via 800-654-2365 or partners@cross-check.com.

ISOs Insider's Guide

Topics: Events / Conferences, Independent Sales Organization (ISO)

Written by Joe Gargiulo

Marketing Specialist Joe Gargiulo has 25-plus years in marketing, communications and copy writing. As a writer, he enjoys connecting story leads to all aspects of the human experience.