MM101 Support Automates Fiserv FSP ISO Residuals Reporting

MM101 Support Automates Fiserv FSP Residuals Reporting

IRIS CRM is happy to share that we have expanded residuals reporting functionality for Fiserv FSP ISOs by adding support for the MM101 file to calculate residuals income. 

Fiserv FSP ISOs can now use IRIS CRM to automatically calculate their monthly residuals income using the MM101 file. By eliminating manual calculations, ISOs can scale their business without the need to hire additional staff to help with residuals. 

After doing an initial file mapping with assistance from IRIS CRM’s support team, all your organization has to do each month is upload the raw MM101 text file. From there, the CRM will parse the raw data, converting it into an easily digestible format that is populated in the Residuals module. This will allow your team to jump straight into analysis in order to focus on performance and growth. 

Once the MM101 file is uploaded, you can take your residuals one step further by applying buy rates and schedule As to agent commissions. By leveraging this functionality, FSP ISOs can increase their margins while maintaining the ease of calculations thanks to the automation and tools offered by IRIS CRM. 

ISOs can also leverage our built-in Paya ACH functionality to pay out residuals to agents directly from IRIS CRM. When combined with the advantage of earlier reporting from Fiserv that the MM101 file affords, you will be able to pay agents quicker than ever before. This will keep agents happy and productive, while also increasing the efficiency of your monthly residuals process so attention can be spent on growing your business. 

All IRIS CRM clients can benefit from IRIS CRM’s Residuals functionality through automatic calculations, easy to read reports, and direct payouts to agents. If you’re not already a client, schedule a demo with our team to learn more about the benefits offered by the Residuals module and other payments specific functionality that can help grow your portfolio.

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