Page 34 - GS171202

Education

key for small ISOs, or sub-ISOs, is to develop our own unique technology that latest and greatest applications, but
integrates with POS systems, and ties in our processing and other applications if they were given the ability to play
that businesses are hungry for. As I started to research the various applications with or demo some of these apps,
that are available at a cost or for free, I realized there are developers who have they might bite.
the answers and can become your best friends.
But how does one reconcile the fact
As an example, I was asked about gift cards on Poynt POS systems and that the applications may cost the
realized that there were two gift and loyalty programs already available for merchant $15 a pop, yet you might
the terminal. Clover POS seemed to have even more, with dozens of unique want them to try out an application a
applications that a merchant could work with. So what I believe is necessary few weeks after a system has been in-
is getting an understanding of applications that have already been developed stalled? The answer to that is to load
and putting together a playbook of what really is important to one's customers up the system, and when a merchant
and run with that. opens and plays with an application,
the merchant is given a trial period
But my potential investor wouldn't be satisfied with that response, because she to test-drive it. When the trial is over,
is looking for something unique and something the company could control. the merchant can either select the ap-
Does that mean a piece of hardware needs to be developed? Or devising an plication and get billed, or reject it
application that hasn't been developed or seen yet in the market place? How and not get billed. I don't know how
does one think of something revolutionary? many of the applications developed
today give you that option. But they
Why not test drive apps? all should.
In speaking with some industry folks, I found the overwhelming response was Can one still develop
that most merchants do not have the time to listen to you preach about the something unique?

Is it possible to be unique; to devel-
Let Be Your EMV Expert! op something special, unusual and
potentially a game changer in our
industry? The answer is yes, but I
Your EMV Eco-System Made Affordable! believe the service or product needs
to be revolutionary. When Square ap-
eProcessing Network has the secure, payment solutions to help you stay current with the
technologies that keep your merchants connected. And with real-time EMV capabilities, peared, the concept was shot down
retailers can not only process contact and contactless payments, Apple Pay and Android Pay, by a lot of us merchant level salespeo-
they’re able to manage their inventory as well as balance their books via QuickBooks Online. ple (MLSs). Who would go for high
flat-rate pricing, no live customer
service and the use of a cutesy iPad?
I guessed wrong on that one like a
lot of us did. So what could someone
do that is revolutionary? One might
is EMV-Certified start with asking Apple to develop a
unique product for you, but we know
that isn't going to happen.

The angel investor who sought my ex-
pertise wanted me to devise a unique
product or service to work in a cer-
tain vertical. The business vertical
chosen obviously would need to have
enough merchants to make it worth-
while. The business type also would
have to be stable, which would likely
have necessitated significant invest-
ment to attain. The product or service
1(800) 296-4810 also probably shouldn't be something
© eProcessing Network, LLC. All Rights Reserved.
eProcessingNetwork.com All trademarks are the property of their respective holders. that Amazon is already targeting.

34