09 Mar Is Payments Industry Consolidation Eroding Great Customer Service?
We’re family-owned and not for sale. Here’s why we think that’s so important. Professionals within the software industry are well-acquainted with consolidation. In recent years, there’s been a rush of mega-mergers and acquisitions within the industry, including Microsoft’s acquisition of development platform Github, and IBM’s purchase of Red Hat, the world’s leading provider of open source solutions. For ISVs and SaaS providers looking to expand their own functionality, collaborative integrations offer a path to compete with larger competitors.
One such integration is credit and debit card processing functionality. Partnering with a processing provider to offer integrated payments offers value to users while increasing revenue. But, is your payment processing provider a true partner? The payments industry is experiencing a surge in consolidation as well. But, unlike software mergers and acquisitions, which often lead to growth and innovation, consolidation within the payments industry is just leading to hassles and headaches.
Here are just a few recent acquisitions and mergers within the payments industry:
What happens when your processing provider is acquired by a larger company?
This scenario is becoming more and more common and it’s an unfortunate reality that the outcome typically isn’t a positive one. Most software companies partner with a processing provider after extensive discussion and negotiation. Before making a final decision, they carefully consider revenue share, functionality, shared values, and especially customer service. But, when your processing provider is acquired by a larger company, the level of service that you’re used to is no longer guaranteed.
As major players consolidate, employee turnover increases. Sometimes, entire departments are moved overseas to reduce expenses. And, there’s less incentive to offer competitive pricing when, overall, there’s just less competition, so transparency and flexibility in billing have also decreased.
Is consolidation impacting the service both you and your customers receive?
Your customers are loyal to your software solution, not just because of the functionality it provides, but because of the great customer service you consistently deliver. If your payment processing provider is bought out, a decline in service poses a real risk to your organization’s reputation.
So, is your processor for sale? If you choose BASYS as your processing provider, the answer to that question is “Absolutely not!” Not only do we offer exceptional customer service and world-class solutions, we’re family owned and not for sale. So, whether you partner with us for 5 years or 50 (or even forever!), you can have confidence that BASYS will be your partner in processing.
BASYS Processing as a business partner
If your processor doesn’t offer seamless integration and an industry-leading revenue share, please call BASYS Processing at (800) 386-0711. Let’s talk about creating a true business partnership that will help you exceed your goals.
BASYS Processing features:
– User-friendly API allowing for seamless integration into your software
– Competitive revenue share with easy-to-read revenue share reports tracking partnership growth
– Personalized customer solutions, including automated recurring billing, secure customer vaults, and more!
– A simple application process with the full support of our in-house Boarding team
– 90% + Customer Retention Rate
– Live operator when your merchant customers need support – no automated voice systems
– Dedicated Relationship Manager for questions and concerns
– Proactive contact with every merchant to walk through the annual PCI process
– Track record of successful software partnerships
– Thorough market analysis followed by mutual plans and goals to grow your portfolio
– High-quality service mentality, similar to your own
– Vested interest in protecting your software’s hard-earned reputation
– Open line of communication between BASYS, you, and your customers
– Quick response time for your questions and concerns; you are a priority
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: