Fiserv Credit Card Processing – Is It Good for My Business?

IRIS CRM Blog, ISOs, Onboarding, Residuals, Sales Efficiency
Fiserv Card Payment Services

The key to success as an independent sales organization is establishing and nurturing strong partnerships with leading payment processors to ensure that you can offer your existing merchants and prospects the best possible payment solutions to meet their needs. Fiserv, which acquired First Data in July of 2019, is one of the world leaders in payment processing. They have 44,000 associates worldwide, and if your ISO isn’t already a Fiserv partner, you stand to benefit a lot from getting onboard due to Fiserv’s outstanding range of merchant boarding services and their flexible partnership options. 

 

Becoming a Fiserv Partner

Partnering with Fiserv or First Data offers ISOs a number of significant benefits because Fiserv understands the importance of strong relationships with their independent resellers. In addition to the reputational benefits ISOs gain from being partnered with a world leader in payment processing, there are also major financial factors that make Fiserv and First Data attractive options. Maybe the most significant is the wide variety of partnership and revenue sharing models offered, enabling ISOs to choose their compensation model based on the level of risk and responsibility they’re willing to take on during transaction processing. That ability to exercise a level of control over risk and compensation is invaluable, and, combined with the unparalleled support Fiserv offers, makes the company an easy choice for ISOs. 

 

What You Can Offer Your Merchants Through Fiserv

Fiserv offers an enormous menu of payment processing services for both online/card-not-present and in-store transactions. Those solutions include processing of payments through all of the major credit card companies, debit transactions using Visa, Mastercard or Discover debit cards, and automated clearing house (ACH) payments like e-checks. Their payment solutions offer one-stop access to loyalty programs, risk-management programs, advanced analytics, and much more, ensuring that your ISO will be able to offer effective solutions to your merchant partners no matter what their needs may be. Fiserv even offers electronic billing solutions to enable your merchants to improve their invoicing and ensure faster payments and more manageable accounts receivable. 

 

Connecting Fiserv with Your Business Technology

Fiserv offers a robust reporting suite through its online portal, but its data feeds can also be connected to certain software platforms, like IRIS CRM. IRIS CRM integrates seamlessly with Fiserv and automatically pulls transaction and residual data from the Fiserv data feed to populate reports in the IRIS CRM reporting dashboards. Those reports cover all the core aspects of your ISO’s transaction and residual data on both a portfolio-wide and merchant-level basis. You can generate those reports in as little as a few clicks, and the easy-to-read charts and tables cover everything from transaction volumes and card types to merchant activity, profitability metrics, and beyond. You can also connect to Fiserv using IRIS CRM’s TurboApp automatic boarding application, enabling your staff and your agents to supercharge the boarding process, increasing capacity by up to 500%. 

For more information on how a Fiserv partnership, combined with the power of IRIS CRM, can take your ISO’s business to the next level, contact us to speak to a member of our sales and support team. You can also start your fully functional free trial and begin putting IRIS CRM to work for you today!