IMGCAP(1)]
Ask Chicago residents about the weather this winter and they likely will tell you it has been cold, snowy and generally unpleasant.
But Midwesterners are not the only ones suffering. The Northeast has been battered with ice storms, and torrential floods inundated the Northwest. Even if the weather has been mild in some parts of the country, no one has been spared the chill that settled in our economy.
While we patiently wait for warmer days, many ISOs are reviewing their merchant portfolios and are looking for ways to take advantage of the better economic times that surely are coming.
Many ISOs are looking to technology, whether it is tried-and-true or in the early stages of development, to help them retain merchants and improve profits.
This month's lead feature examines the prospect of ISOs earning revenue from mobile payments. In it, Meghan Boyer, associate editor, finds that few ISOs are enthused or informed about mobile payments at the moment.
"Do we want to make revenue on [mobile payments] when it comes to pass in the future? The answer is yes. Is it something I've paid a lot of attention to? No, it hasn't been," says Wayne Keddy, CEO of Granite Payment Alliance, a Roseville, Calif.-based ISO.
Likewise, ISOs also are reluctant to embrace online PIN debit payments, though a couple of companies have tests running to gauge consumer and merchant reception. Another article takes a look at the challenges of such tests and what the payoff might be for ISOs. Fortunately for ISOs, not all technology is unfamiliar. Many are finding success selling PC-based point-of-sale systems.
Merchants can do more than accept payments with these devices, sales agents earn a fee from the equipment, and ISOs build stronger relationships with merchants. Hardware manufacturers are making similar products that incorporate their POS terminals to keep their devices on countertops.
Rounding out this month's features is a look at kiosks-devices that dispense cash and offer services such as stamp purchases and bill payment-and if ISOs can make money from them. Matt Clyne also returns as a guest columnist discussing ways to develop core competencies for the sales agent and ISO.
No doubt that this year is challenging for ISOs. But as I look at my fellow commuters standing on the train platform, I see most are cocooned in thick coats with hats and gloves. The chill wind affects us all. Distinguishing some from others is their reaction to the chill, whether it be a meteorological chill or an economic one. ISO
