EPISODE · Sep 14, 2022 · 13 MIN

Competing with PayFac Onboarding

from Merchant Sales Podcast · host Merchant Sales Podcast

ISOs and Agents have some serious competition from PayFacs today. One of the major competitive advantages these companies enjoy is a streamlined online application that results in instant approval and automatic integration with their technology solution. I am already talking to dozens of agents who are now boarding all, or at least a portion, of their new MIDs through a PayFac / ISV that has become an ISO, in order to leverage the distribution of the 1099 agent channel. It is time to wake up and remove the onboarding friction that exists. A great first step is to explore a partnership with our sponsors, NMI and IRIS CRM, to discuss how their new instant onboarding solution can help. They have a streamlined online application that can be customized to suit your needs. They are integrated directly with the underwriting departments at most of the top processors. And they can instantly create your NMI account in order to create quick and easy integrations.