A new report from Aite Group examines the top priorities and challenges for merchant acquirers in 2010 and identifies markets that merchant acquirers see as emerging opportunities. Based on Aite Group’s survey of 45 independent sales organisations (ISOs) and merchant acquirers, the report also discusses how acquirers are balancing the needs of merchants with their own capabilities. Finally, it provides a look at the direction merchant acquiring will be headed in 2010, including likely industry-changing events on the horizon
Merchant acquiring is looking toward 2010 with the hope that it will be a better year than 2009. ISOs and acquirers alike are looking to emerging markets, such as the mobile/wireless channel, to help them bounce back from the previous year and its sluggish processing volumes. Despite these hopes, merchant acquirers face increasing challenges in the forms of attrition, margin compression and Payment Card Industry (PCI) mandates that need to be enforced throughout all levels of merchants. Merchant satisfaction will be an important area of focus, and ISOs and acquirers need to concentrate on deepening their relationships with merchants, protecting their own reputations, and cultivating referral business.
“It is vital for ISOs and acquirers to realise that almost one-third of all merchants signed in the US come from referrals,” said Adil Moussa, analyst with Aite Group and author of this report. “This is of course means that ISOs and acquirers never have an opportunity to bid for a large percentage of the business out there. Because of this, providing top-notch service to existing clients doesn’t only help retain clients, but win new business.”
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