An Open Letter to ISOs & Agents from Our Founder
PaymentCollect’s new business model prioritizes partnerships with ISOs and Agents, offering fair, lifetime, guaranteed residual revenue with a goal to improve agent satisfaction and overcome industry obstacles.
We’ve changed our business model at PaymentCollect™ and want to explain why. After over a decade in business, we realized that true partnerships with Independent Sales Organizations (ISOs) and Agents were never fully achieved. One major issue was the misunderstanding of our role. Unlike typical gateways, we have a software client component that interacts with the appropriate version of QuickBooks®, payment terminals, printers, and more. We are essentially a Managed Service Provider. Plus, we’re required to be PCI compliant, which poses significant liability for us.
Answering questions related to transactions and QuickBooks® versions also takes a lot of time. Additionally, ISOs often criticize our staff for problems that aren’t our fault. Industry mergers and acquisitions have led to increased merchant pricing and a decrease in agent satisfaction.
Our new approach aims to offer fair, lifetime, guaranteed residual revenue to both agents and ISOs while providing affordable QuickBooks® integrations to merchants. We’re not trying to reinvent the industry or poach anyone’s market. We just want to provide fair pricing for merchants, fair treatment for agents, and fair compensation for our services.
At PaymentCollect™, we believe in partnerships that benefit everyone involved.