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Education

StreetSmarts SM

Is it time to expand your offering?

By Marc Beauchamp Here are several examples that I'm seeing out in the
Bankcard Life marketplace:
• POS financing (consumer finance)
've been discussing strategic planning over the last
few articles. Part of the strategic planning process is • Buy now pay later embedded financing
evaluating your current product lineup and ensur-
I ing you have the right programs and products that • Online store builders/shopping carts
add real value to your merchant base.
• Omnichannel solutions
As the industry evolves and changes, so does the role of a
merchant-focused salesperson. The days of solely offering • Self-serve kiosk solutions
merchant services are over; sales consultants now need • Cloud-based POS systems
to be current on a whole host of programs and products
such as POS systems, online ordering and ecommerce • Takeout/delivery/online ordering
implementation, mobile and QR code payment acceptance,
gift/loyalty and chargeback programs, compliance • Custom mobile applications development
solutions, working capital, API integrations and much
more. • Numerous payment gateway solutions
What I want to discuss in this article is how new products • NFC/contactless solutions
or services can help create new revenue opportunities for • Payfac implementation
your organization. As I interact with ISOs and merchant
level salespeople (MLSs) daily, I'm seeing more and more • Fundraising/tithing solutions
of them embracing new products or services to help them
reduce attrition, open new markets, increase their bottom • Wireless vending/parking solutions
line or give them a competitive edge.
• B2B L2/L3 payment processing
Traditional product lines such as cash discounting, debit, • SMS payments and mobile marketing
check and gift card processing are the mainstays for most
MLS offices. If you're stuck in a one-size-fits-all product • Social media products
offering, the industry is going to leave you in the dust. As
the business continues to evolve, a wealth of new product • Digital signage
options will come to market.
• Compliance solutions

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