What Exactly Does TSYS Do and How Can IRIS CRM Help?

IRIS CRM and TSYS – A Powerful Integration

TSYS offers an enormous range of services, so much so that it isn’t uncommon for merchants and even staff at ISOs to be unfamiliar with how they actually function as a part of the payments ecosystem.  While TSYS offers services covering everything from payment hardware to risk and compliance to prepaid debit cards and more, from an ISO’s perspective, the service that matters most is TSYS’s function as a payment processor. 

TSYS is like a super-ISO in many ways, in that it acts as a middleman between merchants and the acquiring and issuing banks that sit on either end of a card transaction. Rather than acquiring banks – the banks that issue merchant accounts to businesses – dealing directly with thousands upon thousands of individual clients, they instead deal with payment processors like TSYS, who take on that burden for them. TSYS, in turn, works with smaller ISOs to spread the work out even further. 

Effectively, when a new merchant wants to open up shop, they apply to TSYS for merchant services, either directly or through an ISO. TSYS then takes responsibility for approving or denying that merchant and issuing them a merchant account set up with an approved acquiring bank. Whenever a customer pays that merchant with a credit or debit card, the payment is sent through TSYS’s infrastructure for authorization. TSYS also handles the clearing and settlement that sees the funds from each batch of transactions actually hit the merchant’s bank account. 

In exchange for all that work, TSYS gets a slice of the pie in the form of a small commission on each transaction. That commission is then further split between any ISOs and independent agents involved in the chain between TSYS and their merchants. 

 

How IRIS CRM Integrates with TSYS

TSYS is just one of the many top payment processors that IRIS CRM integrates with, creating a seamless connection between ISO and processor and augmenting everything from boarding to residuals and beyond. 

Merchant Onboarding with TurboApp

IRIS CRM’s TurboApp onboarding application integrates directly with TSYS and enables ISOs to reduce boarding time from 30 minutes or more to as little as five while minimizing the potential for costly data transfer errors. 

TurboApp uses IRIS CRM’s built-in electronic signature capability to pull all the relevant data from a merchant’s digital MPA directly into the software, pre-filling all the required fields in the digital boarding application. That significant reduction in manual data entry both eliminates most of the time eaten up by manual onboarding and helps ensure errant keystrokes during data entry can’t sink an application. 

TurboApp also provides a complete record of all previous and pending applications, as well as automatic updates whenever an application’s status changes. And because TSYS signs off on TurboApp’s connectivity, ISOs can always be sure IRIS CRM’s boarding tools will be totally synced up, no matter how often TSYS makes changes on their end. 

Advanced Reporting

IRIS CRM takes the data from an ISO’s monthly TSYS reports and automatically combines it with the data from their other processing partners in the IRIS CRM reporting portal. That eliminates the need to manually comb through and integrate the data from a handful of disparate and uniquely formatted reports, saving an enormous amount of time and effort. 

With IRIS CRM’s integrated reporting dashboard, ISO managers can access complete portfolio-wide analytics to gain a high-level picture of their profitability and growth numbers, as well as merchant-level data on their TSYS clients. Everything from monthly revenue and profit growth, to average profit per merchant, to YTD profit, to monthly top merchants and more is all made available in a series of easy to read charts and graphs in a matter of a few clicks. 

IRIS CRM also uses pre-programmed splits for each TSYS merchant to automatically calculate the residuals due to each of an ISO’s agents each month. That greatly reduces the headaches involved with residuals management each month, and the faster and more accurate payouts that result play a major part in recruiting and retaining the most talented agents.

TSYS Wholesale Features

TSYS wholesale partners can access an unparalleled level of integration that extends IRIS CRM’s capabilities to include merchant account updates and underwriting. IRIS CRM’s ticketing system allows users to update key merchant data directly through the CRM, something unavailable from almost any other CRM-payment processor combo. That functionality eliminates the need for agents to log into TSYS directly in order to change vital merchant account information, keeping more tasks within IRIS CRM and minimizing complexity.

IRIS CRM also integrates directly with PreComm Toolkit, the premier underwriting tool offered by industry-leader Conformance Technologies. The IRIS CRM and Conformance Technologies partnership enables ISOs to perform underwriting directly through the CRM, automating most of the process and ensuring that consistent and thorough risk assessments can be done for every single merchant with minimized cost and resource requirements. 

If your ISO is a TSYS retail or wholesale partner, and you’d like to learn more about IRIS CRM’s full slate of TSYS features or the many ways the platform can help you with merchant acquisition, schedule your free guided demonstration of IRIS CRM now!

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