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platform. The solution enables mer- with payfacs and acquirers to help reduce onboarding time and create a seam-
chants to manage the entire customer less customer experience," he said. "Automated tools may streamline the pro-
experience without touching pay- cess, but each account must be vetted according to its individual risk profile
ment card data. and merchant category."

Advanced technology platforms with Wake up to new realities
multitiered architectures are ably pro- The emergence of payfacs is ushering in big changes for merchant acquiring,
visioned to manage master merchant changes that pivot on technology, not customer service. "The largest payment
accounts and dynamic sub-merchant acquirers were built on distribution networks that won merchants on service,"
populations, Paull added. "When we Fitzpatrick said. "ISVs have changed that, because their services with built-in
add features in the cloud, such as payments provide more value than the services ISOs provide. Square's customer
new mobile wallets, we propagate service sucks, but merchants don't care, because the POS is so valuable."
those updates to our customers," he
stated. "The solutions are available to Ablowitz noted that thousands of MLSs are finding it harder to compete.
everyone using the platform. Unified "Some are evolving and some are trying to make it more complicated for the
Commerce is a powerful capability uneducated," he said. "There's an army of door-knockers who want to keep
with the turnkey solutions most mer- making a living, but not every software company is set up to be sold online or
chants require." has a dealer network. These companies are looking for a sales channel."

The need for interoperability likewise Fitzpatrick agreed MLSs, ISOs and acquirers will remain vital to merchant
extends to POS devices and software. acquiring. "In this tech-driven world, a payfac's primary consideration in
That was a key consideration for Cay- choosing an acquirer will be 'who can maximize my approvals?'," he said.
an in developing its Genius program, "Acquirers with the best risk models will win, and those that miss the boat
which Paull described as "built to be will have to steal ISVs from other acquirers, which is harder than winning new
ubiquitous yet simple enough to be a business."
homegrown system." He pointed to
the need for readymade solutions and
"plug-and-play" application program-
ming interfaces (APIs) that address
unique business ecosystems. Exam- Let Be Your EMV Expert!
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Maintaining multiple platforms and they’re able to manage their inventory as well as balance their books via QuickBooks Online.
dynamic sub-merchant populations
requires merchants to continually
adapt to every account and platform
update. "It can be challenging for
merchants to work on an ongoing
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ods and payment flows," Naaman
said, adding that Zooz eliminates
that burden "by normalizing the data
and lining everything up in a coher-
ent manner within our agnostic plat-
form."
Of course, none of these consider-
ations count for much if onboarding
is cumbersome: simple automated
processes are needed. Payfacs use
advanced technologies to streamline
onboarding and speed up merchant
approvals, but they must not cut cor- 1(800) 296-4810
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ners, especially when it comes to due eProcessingNetwork.com All trademarks are the property of their respective holders.
diligence, Fitzpatrick said. "We work

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