Finding the right partner model for your payments business

Whether a shopper is checking out at their favorite clothing store or a large enterprise is invoicing a client, transactions go through a vast ecosystem. Beyond traditional interactions between banks, issuers, and acquirers, software companies are playing increasingly important roles in this ecosystem – integrating payments* with multi-purpose platforms, streamlining ecommerce, and much more. In fact, Juniper Research reports that the global market for embedded finance will grow from $92 billion in 2024 to $228 billion in 2028 – creating massive opportunities for payments providers and software developers who are poised to capitalize on increased demand for seamless payment experiences.

Given this intertwined environment and new consumer expectations, payment services providers can’t go it alone – you need powerful partnerships* to enhance your offerings and differentiate yourself from other players. But how you decide who to partner with, and in what capacity? Consider the following partnership models that are commonly found in the payments industry and evaluate which fits your needs best – especially growth potential, flexibility, and profitability. Whether you are a merchant service provider or an integrated software vendor, there are four key partnership options to choose from:

1. Referral partner

If you have not undertaken a partnership with a payment processor before, you may find it helpful to start small – as a referral partner, you receive shared revenue by referring new customers for acquiring or gateway services. This is a great fit for ecommerce* providers, restaurant platforms, and other software companies that do not currently offer integrated payments and want to draw in new customers with an easy setup option.

2. Agent

Whether you are just starting out or are scaling your offerings, you could consider becoming an agent seller* for a payments processor – directly selling acquiring solutions, hardware, and value-added services from a processor like Elavon through a more collaborative approach than a referral program. From greater revenue growth opportunities to increased control over sales operations, there are numerous benefits for starting an agent relationship.

3. MSPs, ISOs & ISVs

More established players likely would pursue a deeper partnership with a payments processor. MSPs must receive accreditation from card brands like Visa and Mastercard, which comes with both higher entry costs and bigger rewards; this type of partner gets access to more competitive pricing structures and value-added services like faster funding* and dedicated in-house sales and servicing support for MSPs/ISOs and their customers – driving up relationship satisfaction and retention.

Beyond traditional payment service providers, integrated software vendors* can also work with an acquirer to enhance their offerings. Bundling industry-specific software platforms with embedded payments creates immense value for business customers – bringing together the power of tailored software solutions with seamless payments acceptance.

4. Payment facilitator

Flexibility and customization are critical for success in the payments ecosystem. That’s why some payment service providers or software vendors may choose a partnership model with their payments processor that maximizes control of offerings, servicing, and more. Enter, payments facilitation – receiving dedicated solutions engineers, client executives, and sales support resources for your products and services to boost your growth. As a payment facilitator, you are in the driver’s seat – your payments acquiring partner takes care of backend processes, technical solutions, and compliance requirements – so you can focus on navigating the payments ecosystem and meeting your customers’ needs. Further, you can leverage value-added services* like commercial card optimization and Dynamic Currency Conversion to reduce expenses.

Regardless of your business size or industry, there are flexible options to help you leverage integrated payments to attract new customers. Partnering with a payments acquirer can massively expand your ability to stay competitive on pricing, services, customer support, and much more – keeping you one step ahead in the rapidly evolving payments ecosystem.

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