Building a Successful Payments Strategy: How ISOs and ISVs Can Drive Scalable Growth Together
The payments industry is experiencing rapid transformation, particularly in how merchants approach payment solutions. Independent Sales Organizations (ISOs) are adapting to the reality that over 90% of U.S. small businesses now leverage Independent Software Vendor (ISV) solutions for their payment needs.
This partnership between ISOs and ISVs is emerging as a key strategy for driving scalable growth in the payments space. By collaborating closely, these organizations can better serve the evolving demands of merchants and enhance their offerings in an increasingly competitive landscape.
Key takeaways
- ▸More than 90% of U.S. small businesses use ISV solutions for payment processing.
- ▸ISOs need to adapt their strategies to align with the needs of ISVs.
- ▸Collaboration between ISOs and ISVs is vital for driving scalable growth in payments.
Why this matters
As the majority of small businesses adopt ISV solutions, ISOs face increasing pressure to adapt and partner effectively with these vendors. This transition will empower ISOs to enhance their service offerings and remain competitive in a landscape where embedded financial services and instant payments are gaining traction. Failure to adapt could leave traditional ISOs behind as merchants gravitate towards more integrated solutions provided by ISVs.