It’s clear, in today’s business environment a layer of technology powers the business operations of most merchants. There has been substantial growth among the number of ISVs (independent software vendors, also known as software publishers) established within the U.S. and across the globe. ISV’s provide an elegant, integrated software solution, usually very granular for the merchants needs, that becomes the all-in-one brain of the business.
It’s these software solutions that are the driving characteristic of today’s payments landscape. The model going forward is technology-enabled, software-led distribution that provides integrated payments with more flexibility and less friction. As this trend exponentiates throughout the market, ISV’s, or integrated software vendors, are left to determine the best path forward, without much guidance, knowledge, or preparation.
“The Majority of future growth in the U.S. Payments market is expected to be generated by software-led distribution and eCommerce sales channels.”
~ The Strawhecker Group
Due to this, it is more important than ever for Agents to understand the mindset and viewpoints of these ISV’s in order to, successfully integrate payment technology and experiences into their platforms. JJS Global has partnered with some of the best payment technology providers to make payment integration for ISV’s seamless and easy.
Dominate a Market or Industry with an ISV Partnership
If payment acceptance is not already part of a software solution, adding a payments feature is a logical extension of most industry-focused software solutions. For the ISV, they can meet a broader set of merchants’ needs by offering payment processing. Merchants are more ingrained into and loyal to their software solution, resulting in a stronger merchant relationship.
An ISV partnership for an Agent creates a one-to-many relationship, most ISV’s have multiple clients, that equates to multiple merchants for the Agent. With one or two partnerships, an agent may be able to dominate a particular market or industry in which merchants all use one centralized software provider.
ISV’s provide widespread distribution and industry-specific functionality for agents. In return, ISV’s are able to provide a more holistic solution to their end-users (merchants) by integrating payment processing into their platforms.
Agents must remember, not all ISV payment solutions are created equally. In some cases, an ISV may have a payment partner but maybe experiencing lackluster support and/or poor product or solutions innovation from their provider.
Be assured that JJS Global can provide the best solutions for a prospective ISV and the needs of its users/merchants. Our solutions provide much-needed compliance, dedicated support, and technology, built on a solid foundation, that keep up with the merchants and environments ever-changing needs.
ISV, JJS Global and the Sales Process
Software publishers are quickly becoming the driving force behind commerce in both traditional brick and mortar and online eCommerce. It is going to determine who merchants work with, how they run their businesses, and where they find service providers.
Most emerging fintech companies in the payments and transactions space have solutions, that piggyback on the traditional payments and transaction networks. They focus on enhancing customer experience, increasing convenience, and streamlining the process of using bank and card payment networks with platforms that can be used by companies to leverage digital wallet capabilities and POS technology solutions to make payments and authentication easier and safer.
As the mingling of software and payments continue, it is important for Agents to understand the core needs of an ISV prospect. By creating that stickiness and asserting solutions as a payments partner, they become an essential arm of the business. As such, Agents must make the correct decision when it comes to ISV payment solutions for their clients. Below are some of the key selling points that ISV’s look for when seeking a payment partner:
- Stellar Customer Support
- Differentiation
- Turn-key Solutions
- Meaningful Revenue
- Reliable Infrastructure/Integrations
- Functionality Clients Need
- Seamless Payment Experience
- Consolidated Channel Operation
No matter how the ISV wants to approach implementing Payments Integration into their software, JJS Global is here to help. We have options that include payment integrations that can be tailored to satisfy the ISV’s needs, along with our partners that are continuing to innovate and make the purchasing experience easy and seamless. As the ISV grows, and their merchant’s needs change, JJS Global is positioned to ensure the continued success of the growing demands from the ISV marketplace.
