Five years ago, NXGEN, an ISO/MSP headquartered in Whitefish, Montana, needed a new processor. After investigating several candidates, COO Tom Nitopi selected a large organization he believed would be a good fit primarily because it was an “industry legacy” that had forged many long-term relationships with other ISOs. It was, Nitopi says, one of the worst business decisions he has ever made.

“Yes, I was able to secure a good rate, and yes, the staff were nice people,” he notes. “But did what the processor offered allow our independent agents to effectively sell our services? No. Were our merchants able to get the assistance they needed? No. Were the back-end systems appropriate for our needs? No—and these problems represented just the tip of the iceberg.”

As Nitopi’s experience illustrates, myriad issues beyond industry tenure, size, and competitive rate structure require careful consideration when evaluating processor candidates. Getting answers to the following questions will ensure these issues are addressed, and increase the likelihood you’ll strike a deal with the right processor partner.

Download the full PDF