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The state of the ISO Community |
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To really know the ISO and merchant acquiring community, you have to hit the street to find out who’s doing what, with whom and how. In one of the most visible trends in this competitive marketplace, seasoned
veterans are leaving the ranks of the major players and striking out on their own. These entrepreneurial professionals are taking their years of experience, extensive network of contacts and knowledge of the electronic transaction landscape and opening their own boutique organizations in the face of an industry-wide wave of consolidation.
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Market Misgivings: The Credit Crunch May Squeeze Merchants & Acquirers |
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After six years of prosperity, strong growth and relatively low risk, markets are being roiled by a credit crunch that may or may not hit retail merchants and the partners that help them accept and process card-based payments.
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Bundle Up: SellingTotal Solutions |
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Making sense of the cluttered electronic transaction landscape is the job facing independent sales organizations (ISOs) today.
That clutter, says Aaron Bills, chief operating officer of Chantilly, Va.-based 3Delta Systems Inc., can be tracked to changing factors that affect interchange rates, which have multiplied as payment choices have grown. “There used to be five or six categories of interchange,” Bills says. “But now you could fill a book with all the interchange rates available.”
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Vertical Markets: Checking Into Hospitality |
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The travel and entertainment (T&E) industry has embraced electronic payments for more than half a century. The first credit card to be accepted at multiple locations—Diners Club—was rolled out in 1950 to 200 people and accepted by 14 restaurants in New York City. The Diners Club credit card didn’t receive competition until 1958, when American Express and the Bank Americard (later called VISA) arrived. The lodging sector of the T&E market, especially hotels and resorts, jumped on the credit card bandwagon, and today it is almost impossible to check into a hotel without a credit card for a preauthorization.
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Industry Insider: Petroleum Card Services |
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Back in 2000, Cindy Fencl and Andy Hackler decided to learn and implement at-the-pump credit card payments for independent gas stations and convenience stores because there was not a clear solution available for ISOs in this space. They founded Gardnerville, Nev.-based Petroleum Card Services Inc. (PCS), with Fencl as COO and Hackler as CEO; Fencl took over as CEO in May when Hackler retired.
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Online Issues 
