Tag: Credit card processing services

Visa vs. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs
Featured Article Visa vs. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs

The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. In 2021, global payment facilitators processed over $500 billion in transactions – a 75% increase over the previous year and an 11x increase over the total just half a decade earlier.  While companies like PayPal have been providing PayFac-like services since the […]

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Visa vs. Mastercard PayFac Models: The Ins and Outs of the “Big Two” Payment Facilitator Programs
July 12, 2023

The payment facilitator, or “PayFac”, model of merchant acquiring is growing extremely rapidly. In 2021, global payment facilitators processed over $500 billion in transactions – a 75% increase over the previous year and an 11x increase over the total just half a decade earlier.  While companies like PayPal have been providing PayFac-like services since the […]

The Levels of Banking in the United States: Different Classifications of Banks and What They Do
June 28, 2023

Banking in the United States is complex, with many levels, regulating bodies, and types of operations and specializations. Understanding the banking system can be difficult at the best of times, but it’s important – especially in the payments industry – because banks play such a huge role in not only serving the needs of consumer […]

TurboApp: Streamlined Merchant Onboarding with IRIS CRM’s Most Powerful Tool
June 14, 2023

The payment processing landscape is fiercely competitive, and independent sales organizations (ISOs) and other acquirers face numerous challenges in their quest for success. One of the most significant pain points for many is the merchant onboarding process, which is often slow, error-prone and labor-intensive. Inefficient onboarding can lead to lost sales opportunities, strained relationships with […]

What the Collapse of Silicon Valley Bank Can Teach ISOs About Single Points of Failure
May 23, 2023

In early March 2023, Silicon Valley Bank (SVB), the 16th largest bank in the United States and the largest bank by deposits in Silicon Valley, filed for bankruptcy, sending shockwaves throughout the financial industry. SVB, a cornerstone of the region’s economy for decades, fell victim to a classic bank run – albeit one with a […]

ISOs What Does ISO Mean in Banking and Payment Processing? November 11, 2022

To the average person, ISO is the acronym used by the International Organization for Standards. To photographers, it describes the light sensitivity of a digital camera or a piece of film. But to banks and merchants it means something very different. In banking and payments, ISO stands for independent sales organization – a type of […]
IRIS CRM Blog Credit Card Processing Levels: Why Level 1, Level 2, and Level 3 Processing Matter to ISOs October 21, 2022

Credit card processing can be a complex subject at the best of times, but few merchants know that the processing they use is actually just one of three levels. On top of the credit card processing used by the vast majority of merchants, there are two additional layers – Level 2 and Level 3 – […]
Industry News JP Morgan’s Push to Modernize Payments Signals an Incoming Industry Trend October 13, 2022

While cash was once king, today, the payments space is technology driven. And, like all tech spaces, it’s changing incredibly rapidly, with new innovations and options hitting the market at an unrelenting pace. Keeping up with rapid change requires a high level of agility, and, in many ways, the payments industry is beginning to favor […]
IRIS CRM Blog Why Great Salespeople Should Sell Credit Card Processing Services September 28, 2022

Great sales professionals have no shortage of opportunities coming their way, but the opportunity to sell credit card processing services is one few ever look into seriously. Yet, a combination of factors, including huge demand for credit card processing, uniquely cumulative lifetime earnings, and sales organizations desperate for top talent in a cut-throat market all […]
Featured Functionality Process Payments In IRIS CRM With NMI Payment Gateway June 28, 2022

IRIS CRM is happy to share that we have added NMI’s payment gateway as an option when taking payments through IRIS CRM. The new NMI Payment Gateway integration is easy to set up, simply follow the instructions detailed below or watch our video walkthrough. You will need access to the NMI Portal and admin-level permissions […]
IRIS CRM Blog ISO vs. ISV: What Does Each Do in the Payments Ecosystem? June 1, 2022

ISO and ISV are two extremely common terms in the payments industry, but, despite a couple of common letters, the two acronyms describe companies that do very different work – independent sales organizations and independent software vendors. But while ISOs and ISVs have little in common on the surface, the rise of online digital payments […]
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