This is where the right acquiring partner makes all the difference. Working with partners who can give you the most opportunity can push your processing sales to the next level.
Take on Strategic Accounts
Some acquiring partners bring a risk-averse approach to their business. Unfortunately, this leaves money on the table and keeps some lucrative businesses from working with you. Acquiring partners willing to think outside the box can help you accept and onboard many new merchants in traditionally difficult to place markets:
- Credit repair
- Document preparation
- Direct sales
- Personal protective equipment
- Online pharmacy
- Timeshare relief
- Online firearms
- Vapes and smoking devices
These are legal businesses that need to be able to process sales. If you can work with the best merchants in these areas, you have an opportunity to grow quickly. The right acquiring partner can help you get there.
Onboard More Quickly
Having stronger acquiring partners does more than just help you sign new merchants. A robust platform with experienced banks ready to accept strategic accounts gives you a time advantage, too. Someone is going to sign up to process payments for these merchants. Having excellent acquiring partners gives you a chance to run your risk analysis and onboard new merchants more quickly and efficiently. They can start taking payments more quickly, and you begin generating your fees much sooner as a result. Even more importantly, you diminish your risk of losing revenue to a competitor who can move on the merchant application.
Some independent sales organizations might prefer working exclusively with traditional merchant accounts. That is fine, but the revenue opportunity is big enough that you should not dismiss it out of hand. Strategic accounts often generate higher fees per transaction, and many are building powerful business in growing areas. The right acquiring partner will look at the industry-level analysis but will go beyond to assess the value of the individual merchant. A strong company can exist in any business area and finding the right merchants to onboard can create lucrative revenue streams for your organization.
Payment processing partners are everywhere, but not all have acquiring partners in place to help you reach your true potential. Don't settle for someone who can do no more than help you be average. Working with Nuvei means onboarding through a powerful network of acquiring partners that can help lift your independent sales organization or ISV to new revenue heights. Learn more about Nuvei's Partner opportunities.