The Green Sheet Online Edition
August 11, 2014 • Issue 14:08:01
Square deal for ISOs
Boca Raton, Fla.-based API Software Inc. introduced a new app for ISOs and merchant level salespeople (MLSs) called Square Deal Pro. The payment software and applications developer said the new app supports sales reps by offering side-by-side rate comparisons with the major competitors, including Square Inc., PayPal Inc., Stripe Inc. and other aggregators. The app calculates and displays results on the MLS's and/or merchant's smartphone.
"Square Deal Pro allows merchants to enter a few simple data points," said Frank Haggar, President of API Software. "[And then it shows them] a comparative bundled rate based on standard interchange-plus pricing." For example, the app prompts MLSs to enter the merchant's processing volume and payment acceptance methods, which are then fed into the rate calculation engine. The keyed, swiped and blended rates are then computed and displayed for each competitor.
The app comes preconfigured with standard interchange-plus pricing, common to most revenue sharing programs. However, reps can just as easily enter preferred or temporary rates as determined by ISO guidelines. Not only does the app allow agents to set and save custom pricing, but agents may also switch between pricing models to illustrate to merchants where they might save money, the company stated.
"Square Deal Pro empowers the sales representatives to use a trustable and vendor-neutral tool that is available directly to inquisitive merchants," said Henry Taylor, Chief Architect for Square Deal Pro. "The power of presenting a detailed cost comparison with just a few clicks on a smartphone is exciting and can help to sway even the most hardened of customers."
Additional benefits of Square Deal Pro include:
- Bundled rate calculator for blended rate comparisons
- Default and preferred pricing options
- Temporary rate setting to allow for flexible third option
- Side-by-side comparison pricing with major competitors
API Software noted it offers a free version of the app to merchants with referral links embedded. The app may also be custom branded. A sponsored version of the app offers additional merchant services tools and products that sales organizations can use in closing sales, the company said.
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