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Insights and Expertise
The smart – at least in my opinion – POS guys are tell-
So agents are now finding out ing their potential resellers, "Hey, you like our software?
Great! We are the ISO, and if you want to bring us a mer-
the hard way that they have been chant, we'll do a rev share with you." The smart – again,
selfish. my opinion – agents are taking advantage of these solu-
tions. The capitalized agents are building their own solu-
tions.
LiquorPOS sold for $3.4 million and had 4,000 installs. If I agree with Nardy that MLSs need to be vigilant when
they had 2,000 installs and the processing revenue from vetting software. As he noted, it's time for a new play-
those locations, we'd be looking at a $20 million business book. We need more than generic white-label, processor-
not a $3.4 million business. agnostic solutions. We need long-term relationships with
No room for selfishness partners who share our commitment to delivering great
products and services to the merchant community.
So agents are now finding out the hard way that they have
been selfish. They have wanted all the processing revenue Want to know more? Keep reading The Green Sheet and
and have not been willing to share. In addition to not be- consider following me on LinkedIn, where we can share
ing willing to share, they have not been willing to learn ideas and support each other.
new technologies, that is, POS systems, and they have not
been interested in developing their own (save a few agents Allen Kopelman, a serial entrepreneur, is co-founder and CEO of
or groups that have built something). Nationwide Payment Systems Inc. and host of B2B Vault: The Biz
to Biz podcast. Email him at allen@npsbank.com and connect on
Most of the solutions out there are just private labels of LinkedIn https://www.linkedin.com/in/allenkopelman/ and
Linga or others. Some have private-labeled systems that Twitter @AllenKopelman.
have turned off the private labels and terminated those
programs, forced migrations of merchants, etc. So much
for those residuals.
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