Alpharetta, Ga.-based MainStream Merchant Services Inc. was founded in 2007 by three payment professionals whose stated mission was to provide complete transparency in fulfilling the unique payment processing needs of businesses from a broad range of industries. Today the company processes in excess of $1.5 billion annually for clients through a nationwide sales force.
"We have business in a majority of the MCC codes out there," said Dana Adams Sills, director of business development at MainStream. "We have a large contingent of restaurants in our group. We work with ecommerce clients, as well as business-to-business and setting up businesses throughout the supply chain of any given type of industry."
Being diverse means merchant level salespeople (MLSs) can pursue niche expansion into wholesale, manufacturing and distribution businesses, for example, which are categories where MainStream has seen increased interest lately.
"They may just now be getting into the payments game, because they know that this can speed up their cash flow and reduce the net 30 invoicing process, Sills said. "But at the same time, they might not have been introduced to products that can offer purchase card Level 2 or Level 3 processing, where our agents have the opportunity to save those businesses money in a way that doesn't hurt anyone's revenue stream."
Another area that has shown traction is the building supply industry. "With building supply you're dealing with high tickets, and sometimes those clients need ACH and check solutions as well," Sills noted. "A lot of those businesses don't have sophisticated inventory management, especially if they're older family companies." MainStream can fill that gap for many businesses, she added.
MainStream also provides tools for ISOs and MLSs that partner with the company to enter the medical vertical. It offers a comprehensive program for dental offices, a niche where EMV (Europay, Mastercard and Visa) chip reader or recurring payment capabilities are often lacking, as is practice management software integration with payments, the company noted. "We even have an eligibility and benefits solution to further streamline business and increase ROI," Sills said, noting that non-patient days are common in dental practices, which has a direct impact on revenue. "It's the office manager's day to catch up on all the insurance backlog, and we have a solution that can help solve for that."
MainStream's Eligibility and Benefits System delivers a unified view of patient benefits, verification details, appointments and treatment plans, and ensures that patients receive out-of-pocket cost information in advance so they may choose whether to pay in full or set up scheduled, automated payments over time. The company also provides on-site sales tools for demonstrating program capabilities when meeting with prospective clients.
One strategy that has proven effective for MainStream is the creation of multiple sales channels nationwide. Options include an ISO/agent program; W-2 sales program with benefits; strategic referral partner program that aligns MainStream as the preferred merchant services provider to professional organizations and other entities, including independent solfware vendors and value-added resellers; and initiatives that support military veterans in both sales and business.
Whatever channel sales partners decide to join, MainStream prides itself on support at every level through its sales portal and support team. "We have a transparent program with very clear pricing, transparent paperwork and reporting," Sills said. "It's all about educating the client to make sure they understand how to achieve the least expensive transaction with the least potential for fraud." With that in mind, she said, they are able to offer boutique concierge service.
MainStream's payment product and software solutions suite covers the gamut from physical POS equipment to virtual, mobile and online solutions that support EMV, mobile wallets, tap-and-go payments, check processing, gift card programs, merchant funding, inventory management, and online reporting, among the options.
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