ACQUIRING SMALL MERCHANTS: UNDERSTANDING INFLUENTIAL MARKET DYNAMICS AFFECTING MERHCANT'S CHOICE.

The evolving eco-system in the merchant acquiring industry will force ISOs and merchant acquirers to compete even harder for small merchants (processing below $5 million a year). The situation is exacerbated by new players such as Square and Groupon that have proven adept at understanding small merchants’ main preoccupations and meeting their needs. The good news is that these merchants are growing and processing more volume than before and all merchants’ needs are far from being met.

ISOs and acquirers will have to start catering to merchants’ wants and needs in order to survive. This means that the industry will have to step out of its comfort zone and provide merchants with products that will help them increase their business not just capture payments (which is considered a given today).

 

Report Content

This 27-page long report is based on a survey of 817 small merchants. It contains 18 charts. it is split in 2 parts:

1) Evolving Eco-System

Acquiring industry volume growth; projected growth by merchant size; projected growth by small merchant category; projected volume growth by POS device; the threat from Visa and MasterCard; the threat from Square; Square’s growth in volume and user; projected volume growth through app-based POS devices.

2) Inside The Small Merchants’ Mind

How the industry stands to gain by viewing itself as B2C instead of B2B; the disconnect between what merchants respond to and what the industry is providing them.

3) Sources of Small Merchant Acquisition

Acquisition methods (referrals vs. direct sales); breakdown of acquisition methods that merchants respond to in percentages; merchants’ ratings of importance of select factors; merchants’ rankings of most important factors that made them switch processors.

4) What Merchants Really Want

Merchants’ priorities in 2013; merchants’ interest in services; merchants’ interest in products (app-based POS), PayPal, ISIS, daily deal companies; merchants’ interest in same solutions by merchant category (size).

 

 

What You Will Lean in This Report

  • Forecasted volume growth of merchant acquiring volume from 2013 to 2017.
  • Volume growth and forecast of small merchants vs. large merchants 2012 to 2017.
  • Volume growth and forecast of small merchants subcategories 2012 to 2017.
  • Volume growth and forecast through the different POS devices from 2007 to 2017 (POS terminal, app-based, website and PC-based).
  • POS devices that are losing ground and others that are gaining ground in terms of volume processed.
  • Square’s strategy for growth.
  • Total volume processed by Square and other market players in app-based terminals.
  • The three (3) tenets of Square’s success and how to emulate it.
  • Learn why the industry would achieve better conversion rates if it viewed itself as B2C instead of B2B.
  • Learn about the percentages of merchants that respond to direct sales, referrals and those who perform their own research.
  • See a complete breakdown of the acquisition methods that merchants responded to in 2012.
  • See a complete rating of 11 factors that merchants deem important in selecting a new processor.
  • Learn the ranking of the main single factors that lead merchants to switch their processor.
  • Find out which of your merchants are more likely to respond to a visit from your competitors’ local reps or local company.
  • Find out which merchants are twice as likely to select a new processor because of a knowledgeable sales rep.
  • Learn about the top five priorities of your small merchants in 2013 and how most ISOs and acquirers can help fulfill them.
  • Find out the percentage of your small merchants who want to use Square or a similar app based POS.
  • Find out the percentage of your small merchants that intend to sign up for Paypal and ISIS.

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List of Charts and Figures

  1. Total Volume Processed by Merchant Acquirers in the United States
  2. Breakdown of Volume Processed by Small and Large Merchants
  3. Small Merchants’ Estimated Number and Processing Volume from 2012 to 2017
  4. Breakdown of Small Merchants’ Volume Through POS Device Used from 2007 to 2017
  5. The 6 Tenets of Square’s Strategy
  6. Volume Processed by Square and Other App-Based POS Companies in 2012
  7. Breakdown of App-Based POS Users in the United States in 2012
  8. Average Amount Processed by Merchants Using App-Based POS Devices in 2012
  9. Estimated Volume Processed by Square and Other App-Based POS Terminals from 2012 to 2017
  10. Breakdown of Merchants Responding to Direct Sales vs. Referrals
  11. Breakdown of Merchants Response to Acquisition Methods
  12. Merchants’ Ratings of Processor Selection Factors
  13. Merchants’ Ranking of Most Important Factor in Processor Selection
  14. Merchants’ Ratings of Processor’s Selection Factors Based on Merchant Size
  15. Top Reason for Selecting a Processor Based on Merchant Size
  16. Main Reason Merchants Selected Their Processor Based on Tenure with Previous Processor
  17. Importance of “No Set Up Fee” in Merchants’ Decision to Select New Processor Broken by POS Device Used
  18. Importance of “Company Being Local” in Merchants’ Decision to Select New Processor Broken by POS Device Used
  19. Importance of “Local Rep” in Merchants’ Decision to Select New Processor Broken by POS Device Used
  20. Importance of “Friendly Sales Rep” in Merchants’ Decision to Select New Processor Broken by POS Device Used
  21. Importance of “Knowledgeable Sales Rep” in Merchants’ Decision to Select New Processor Broken by POS Device Used
  22. Merchants’ Top Priorities in 2013
  23. Merchants’ Interest in Marketing and Retention Education
  24. Merchants’ Intentions in Using Daily Deal Companies and Four Square
  25. Merchants’ Intentions in Using PayPal and ISIS
  26. Merchants’ Intentions in Using Square vs Other App-Based Solutions

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