Independent Sales Organizations (ISOs) are undergoing a significant transformation, moving away from their traditional roles focused on terminal sales to becoming strategic partners for merchants. This shift reflects a growing expectation among merchants for processors to provide not just services but also valuable insights and tailored solutions that support their business growth.
According to an interview with Jonathan Aguilar, associate vice president of partner experience at Maverick Payments, the success in this evolving landscape will belong to those ISOs that recognize payments as a platform for delivering comprehensive services rather than merely a commodity. Aguilar noted, “The modern ISO is solution-oriented, tech-enabled, and focused on delivering value beyond price.”
The traditional approach of ISOs, which often revolved around hardware sales and competitive pricing, is increasingly being challenged. Merchants today are more informed and can easily compare offers online, making it crucial for ISOs to modernize their sales processes. The ability to provide integrated solutions that add value is essential for maintaining competitive advantage.
Modernizing Sales Approaches
Aguilar highlighted a pressing need for ISOs to transition from outdated sales methods to more efficient, tech-driven strategies. Many agents continue to rely on paper applications, even as digital onboarding becomes the norm in other sectors. He explained that while some merchants may still prefer paper applications, moving towards digital solutions can significantly streamline the onboarding process. “Moving them towards a digital application using e-signature can really help them get through that sales quickly,” Aguilar stated, emphasizing the importance of reducing friction in the customer experience.
The concept of “modern selling” encompasses fewer manual steps, enhanced visibility for sales managers, and quicker onboarding times for merchants. As businesses increasingly digitize their operations, ISOs are expected to follow suit in how they prospect, qualify, onboard, and support their clients.
Merchants’ expectations have evolved; they now seek ISOs that act as growth partners rather than mere service providers. Aguilar shared that the relationship between ISOs and merchants is more vital than ever, stating, “The business relationship they have with a merchant is more important than ever.” This relationship has shifted towards advisory roles, where ISOs help merchants select solutions that align with their operational needs.
Leveraging Technology for Growth
In Aguilar’s view, technology is the key to transforming traditional sales models into scalable, repeatable processes. Payment technology simplifies sales pitches, reduces onboarding friction, and equips agents with modern tools necessary for successful transactions. “Payment technology empowers sales teams by simplifying the pitch,” he noted, highlighting the importance of customer relationship management (CRM) software and effective communication strategies.
The integration of technology not only facilitates faster transactions but also fosters “stickiness”—the reasons for merchants to remain engaged with their ISOs. For instance, regular check-ins and milestone tracking can enhance the ongoing relationship, ensuring that merchants feel supported throughout their experience.
Aguilar discussed the advantages of adopting a white-labeled payments platform, which can significantly impact how ISOs manage and prioritize opportunities. He emphasized that effective white labeling goes beyond branding; it creates a unified system that improves operational efficiency and allows ISOs to build their internal sales teams more effectively.
Integration with existing CRM systems is crucial for maximizing efficiency and identifying high-value opportunities. “If an ISO already has a CRM that works, a modern payments platform should connect to it,” Aguilar explained, underscoring the importance of seamless communication between systems.
The strategy for ISOs must now include a unified payments platform accessible to all stakeholders involved. Maverick Payments’ dashboard serves as a model for this approach, providing a shared environment for digital applications, e-signatures, and ongoing service management.
For ISOs, the message is clear: value-added services are no longer optional but essential for differentiation in a competitive market. Modernizing sales strategies through digital onboarding, integrated platforms, and shared analytics is becoming increasingly critical for winning and retaining clients. As the industry evolves, those who adapt will find themselves in a stronger position to thrive.