A Woodlands, Texas-based independent sales organization has added a processing platform and is growing into a super ISO with fewer but higher-producing partners, company executives say.
Merchants’ Choice Payment Solutions installed the platform about 18 months ago and is looking to compete with large companies such as National Processing Co., says Todd Linden, Merchants’ Choice chief operating officer and a former National Processing executive.
Monthly growth in merchant accounts is averaging 17% to 20%, and Merchants’ Choice now services nearly 50,000 merchants, Linden says.
The company seeks to work with ISOs that sign 100 to 300 merchants monthly, a range Linden calls the company’s “sweet spot.”
With ISOs big enough to produce that much business, Merchants’ Choice can limit the number of ISOs with which it works, Linden says. The company then can tailor its services to match the business rules of 30 to 50 ISOs instead of facing the daunting task to adjust to the details of a 1,000 smaller ISOs, he adds, describing the smaller range of partners as “a very finite number of entrepreneurs.”
Merchants’ Choice evolved from an ISO started in 1990 by Randy Wilson and Mike Gatewood. In recent months, Gatewood has returned as chairman of the ISO’s board, says Charles Vernon, company CEO.
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