SAN DIEGOApple and Samsung joined the Electronic Transactions Association this week, providing further evidence that the acquiring industrys trade group is welcoming technology companies as members.
The ISOs that formed the ETA want tech firms to join organization so that companies from both campsacquiring and technologycan cooperate in bringing payments innovation to merchants, said Jason Oxman, ETA CEO.
Tech companies are joining because they recognize the value of working with acquirers, Oxman said in an interview during a break in the action at the Western States Acquirers Association.
They want to use the ISO channel to reach merchants, he said, noting that ISOs have worked for years to build payments relationships with small and medium-sized businesses.
Tech companies know they cant reach all of the nations 8 million merchants on their own, Oxman maintained.
Thats why tech companies have been joining the ETA for a couple of years now, and the ranks of fairly recent inductees include Google, Amazon, Softcard, AT&T and Verizon, he noted.
ISOs also benefit from relationships with tech companies because the ISOs are searching for value-added services they can offer to their merchants.
Offering tech services that other than transactionssuch as business management software or data-driven loyalty schemescan help ISOs differentiate their companies, retain clients, strike up conversations with prospects and avoid price-cutting negotiations.