SAN DIEGOApple and Samsung joined the Electronic Transactions Association this week, furthering the acquiring industry trade group's efforts to welcome technology companies as members.
The independent sales organizations that formed the ETA want tech firms to join so that companies from both campsacquiring and technologycan cooperate in bringing payments innovation to merchants, said Jason Oxman, ETA's chief executive.
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. Tech companies such as Google, Amazon, Softcard, AT&T and Verizon have already joined, he said.
ISOs also benefit from relationships with tech companies because the ISOs are searching for value-added services they can offer to merchants.