With the emergence of smart technologies and shifting consumer preferences, the payments ecosystem is evolving at a fast pace. When it comes to purchasing a POS system, it usually involves a Value Added Reseller in the process. A VAR adds to expertise and enhanced experience. In today’s highly competitive era, merchants have numerous options, when it comes to value-added resellers. With every arena getting smarter in the highly digitalized world today, merchants too, are not an exception. They are a bit smarter than earlier generations. They now have better knowledge and clear expectations about what they want, and when they want it. It is essential for VARs to understand what merchants look for in a value-added reseller and how to deliver their best. Understanding the merchant’s mindset will help VARs to stand ahead in the competitive landscape.
Among of the best things VARs can do is to be
- Clear and Consistent: The VAR is fundamentally the liaison between all the parties involved. VARs need to communicate flawlessly with everyone. This clear communication enhances the value.
- Knowledgeable: VARs need to be well aware of product enhancements, features or add-ons. Knowing means to bring value to the merchant.
- Accessible: Merchants want things to be as simple as possible. Furthermore, they also look forward to VARs as a single point of contact for all the distinct components of their system. VAR is considered as the one who truly knows the systems and understands the business needs too. Merchants expect the person to be accessible and clear their doubts in a sensible and well-timed manner. Obviously having everything in their system well with good care, the merchant can concentrate on their business.
Simply put, a VAR needs to provide value to a merchant. They look forward to in-depth knowledge, accessibility and clear communication.
The added value certainly helps build healthy and enduring relationships and this is essentially beneficial in today’s highly evolving payments ecosystem. Showing merchants that you are going an extra mile to provide merchants above and beyond industry standards will prove beneficial in the long run.
- Getting merchants up to modern security standards
Security is one of the biggest concerns for merchants. Though many modern POS devices are facilitating ease of use, it involves tedious work at the back end. It needs to deal with the security of data stored and POS devices too. Payment processing systems are evolving at a fast pace. This has added to the merchant’s primary anxiety. EMV standards, payment data security risks, and evolving PCI compliance mandates are adding to the challenges of merchants. Here is the point where VARs can emphasize their importance to meet PCI compliance standards, implement more secure platforms, etc. VARs need to show merchants that they can help in enhancing ongoing security. VARs need to position themselves as security experts and thus, gain merchants’ trust.
- Adopt the latest and best POS devices
With the evolving landscape of payment systems, it is essential for merchants to implement the latest and best point-of-sale devices. Certainly, they will be having several doubts about their operation. VARs can sound like reliable players here by providing merchants with high-level support.
- Enduring Relationship
Most of the merchants expect a strong, healthy and long-lasting relationship with VARs. Certainly, a strong working relationship gives peace of mind as it spells the most productive business relationships. If a merchant has any question, when s/he reaches a VAR easily s/he can get those concerns resolved with the expertise and knowledge of that VAR. It certainly adds value to the relationship. Obviously, the merchant will look forward to simple and smooth transactions and is likely to build enduring relationships.
All in all, to deal with merchants with security and payment trends, in general, make it essential for VARs to continually think about what they can do to ensure the merchants are getting the best possible service on various fronts. Above considerations will surely help you understand merchant’s need, meet their expectations, create a competitive edge and develop enduring relationships.