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In its new independent sales organization program with RBS WorldPay, Revolution Money should address ISO concerns about revenue cannibalization and provide training for ISOs to embrace RevolutionCards, says David Fish, senior analyst at Maynard, Mass.-based Mercator Advisory Group Inc. RevolutionCard is a PIN-based credit card that competes with traditional bankcards sponsored by Visa Inc. and MasterCard Worldwide. The bedrock of the ISO industry and ISOs' core business is bankcards, he says. "Many (ISOs) are not comfortable or adept at presenting alternative payment types that might cannibalize their main revenue stream," Fish says. St. Petersburg, Fla.-based Revolution Money and RBS WorldPay should train ISOs on "how to present [RevolutionCard] as something that can help bolster their core revenue streams," he says. Indeed, ISOs will see the benefit in offering the widest range of payment options to their merchants, adds Ian Drysdale, RBS WorldPay senior vice president of market development. "If they offer a wider range of payments than the competition, they will reduce attrition. ISOs are looking at ways to differentiate," Drysdale says. RBS WorldPay, formerly known as RBS Lynk, is the U.S. payment-processing branch of the Royal Bank of Scotland Group.
