A seminar at Money 20/20 Europe regarding the future of payments confirmed something that we’ve believed for a very long time: That we offer one of the best reseller programs in the industry. Not that we’ve ever been concerned about the direction of our reseller program, but it also gave us plenty of reason for optimism that will carry on for ages.
About that seminar…
We heard a terrific quote once at the Money 20/20 Las Vegas tradeshow we attended last fall:
“More has happened in the last five years in payments than the last 50.”
Judging by the Money 20/20 Europe seminar titled C-Level Executives On Tomorrow’s Payments Landscape, whirlwind change in the payments industry is going to continue. The panel included Ron Van Wezel of the Aite Group; Joel Leonoff of Paysafe; Paul Stoddart of Vocalink; Mike Laven of CurrencyCloud; Jean-Claude Farah of Western Union and Stefan Thomas of Ripple.
We listened to each of the panelists offer their forecasts on future trends in payments, and we grew more encouraged about our industry with each one. There was one prediction that really grabbed our attention.
We’re Going to see…
More partnerships
In our opinion, the most intriguing statement of the panel was offered by Mr. Farah.
Toward the end of the seminar, each panelist was asked what would be one trend on which they would lay a bet. Each of the responses were encouraging.
Mr. Farah offered this: “Someone who can be everything to everyone; the ability to get what your customer is looking for.”
His response resonated with us on several levels, and we’ve followed this model for years. We feel ours is among the best reseller programs in our industry because of our direct partner support and for the fact that we offer:
- 60 percent revenue shares for leads that lead to monthly credit card processing volume up to $1 million.
- 70 percent revenue shares for leads that lead to monthly credit card processing volume over $1 million.
We’ll also offer you a co-branded landing page option, in which we create a landing page for partners and resellers to post on their websites to offer high risk payment solutions. When a merchant completes the quick form, it comes into our CRM as a lead. We then find a solution, and split said revenue with that partner.
Mr. Farah also said in order to move forward in the industry, partnerships are a must. We couldn’t agree more.
For example, this time last year, we had no payment solutions for certain few (growing) regions of the world. By partnering with a larger payment service provider, Instabill can offer payment and credit card processing – with local, familiar brands and currencies – most anywhere in the world.
Internetworking
While we loved Mr. Farah’s input, other panelists also provided highlights. One panelist spoke about how it is consumers who are the driving force behind innovation in payments, thus ‘internetworking’ – transacting with people and customers on multiple platforms – is the norm and will be for the forseeable future. Merchants must adapt to succeed.
Emphasis on consumer authentication
While fraud continues to be the underlying theme of the payments industry, no one is arguing that it’s not here to stay. All the panelists agreed that more and more emphasis is going to be placed on KYC and customer authentication. “That’s the space that I’d like to see sharpen up,” Mr. Stoddart said.
Speaking of fraud, it was, understandably, one of the issues discussed by the panel when asked what fears they had might disrupt their businesses. Identity thieves, hackers and their enablers, the panel noted, do not operate in a logical world.
Interested in partnering with one of the best reseller programs?
Along with generous revenue shares and live support, Instabill can offer the best merchant account solutions for high risk businesses. With acquiring banking partners here in the U.S. and worldwide, Instabill can get businesses processing and keep them processing.
It’s worth a conversation. Call us direct at 1-800-530-2444.
