EVO Merchant Services stays flexible to meet the different needs of the
ISO and merchant marketplace, a business strategy that has propelled
the 15-year-old firm from a small start-up, with only three employees
at its inception, to a 500-employee company that is the 20th largest
processor in the country – the fifth largest among non-banks.
EVO handles processing and other needs for over 100,000 merchants, a
rate that is growing by over 6,000 merchants per month. Growth
throughout the U.S., Canada, and in the future, in other countries,
will provide new opportunities for EVO’s partners.
Founded in 1989 as Merchant Services Inc., the name changed officially
to EVO Merchant Services in October 2003, to distinguish the company
from several others that have “merchant services” in their name. With
outstanding sales, service, support and a commitment to serve the needs
of merchants, merchant-level salespeople and ISOs, EVO represents “the
next evolution” of merchant services.
The company’s continued growth and success is due to several factors,
according to Jeff Rosenblatt, the company’s Chief Operating Officer,
who heads the firm along with company President and CEO Ray Sidhom, a
recognized bankcard industry visionary.
“The biggest thing is trust and integrity,” Rosenblatt says. “With us,
the ISO knows that he will continue to get his residuals for the
lifetime of the account, even if he leaves the industry or goes
somewhere else. That isn’t always the case with other companies.”
Customized Programs, Excellent Service
EVO offers a variety of programs to help the ISO grow, from the large
national ISO with various merchant accounts and sophisticated needs to
the small ISO that’s just starting out, including customized sales
programs and outstanding sales and service. Among the sales promotions
are 100 percent over buy-rate programs and interchange plus
profitability programs.
“We don’t take a cookie cutter approach to working with ISOs,”
Rosenblatt says. “We don’t tell ISOs that they have to fit into only
one or two programs. We are flexible to meet different needs in the
marketplace. We work with ISOs to give them what they require to be
successful. We let them pick and choose what products and services work
best for their business.
“We offer free terminals and upfront bonuses, but so do some other
companies,” Rosenblatt adds. “There’s more to a quality ISO program
than just the upfront sales and free terminals. We help ISOs create new
sales promotions for merchants.” The sales promotions can include a
variety of incentives, gift cards, loyalty cards, leasing and other
solutions. Though they’ve gained plenty of traction in the last few
years, there are still plenty of opportunities for ISOs and merchants
to benefit from expanded gift and loyalty card programs, according to
Rosenblatt. He also sees quick service restaurants in smaller markets
as a largely untapped market.
Quickservice restaurants and other businesses accepting noncash
purchase payments have seen increased revenue by more than 30 percent
in a year. With EVO, merchants can accept nearly any card the customer
carries including gift and loyalty cards, Visa, MasterCard, Discover,
Diners Club and JCB. EVO also gives merchants the ability to accept
one of the most popular items on the market today, fleet cards from
Voyager and Wright Express.
Building Residuals
In addition to the full array of payment options, the small local ISO,
the large national ISO and everyone in between also gets personalized,
custom service in order to keep customers happy and to help their
business prosper.
“One of the biggest things EVO offers to ISOs is unsurpassed trust and
integrity,” Rosenblatt says. “The successful ISO today doesn’t rely
solely on equipment sales.” Instead, the successful ISO builds his
business on residuals, which are dependent on building and maintaining
long-term relationships with merchants.
EVO enables ISOs to stop selling on price alone and start selling on
convenience and service, which business consultants say are much more
important in building long-term customer relationships – and residual
income – than price alone. The merchant who comes for price will often
leave for price as well. Those who come for convenience and service
will stay as long as the convenience and service continue to meet and
exceed customer expectations. EVO offers a host of services to meet the
needs of ISOs and the merchants they serve.
By handling sales, service, sales promotion and all other ISO needs
from headquarters, rather than outsourcing as many other firms do, EVO
can ensure that ISOs, merchant-level salespeople and merchants receive
a high level of service and timeliness, qualities that can’t be
guaranteed when service and support are outsourced to one or more
third-party firms.
Included among the services that EVO provides internally rather than
through a third party are underwriting and all -—-related services,
meaning that any issues regarding chargebacks can be handled quickly
and seamlessly by EVO without the inherent delays and complications of
working with a third party.
State-of-the-art Technology
EVO terminal solutions work for any business and are simple enough to
handle transactions even at home with keypad input alone- and no card
swipe necessary. EVO terminals are strong, high volume retail tools
that support fraud prevention with security features like Address or
Age Verification Service and Security Codes such as CVC2 and CVV2.
EVO is founded on flawless processing, cutting edge network topology
and the lowest pricing in the industry. Industry experts confirm debit
cards are surpassing check and credit card volume. EVO’s proprietary
debit processor offers better service at lower prices than practically
anyone in the industry. EVO also provides virtual terminals that work
on a merchant’s computer. Time is an element in short supply for all
ISOs and merchants. EVO helps ISOs and merchants manage that precious
resource with several solutions enabling both to be more efficient in
conducting their businesses.
A single point of entry through EVO’s website enables ISOs and
merchant-level salespeople to communicate to all departments within the
company from one location - from signing up a new merchant account, to
statements, authorization numbers, etc. This enables ISOs to establish
a new merchant account in as little as 30 minutes, rather than the 48
to 72 hours that is typical with many other processors, which require
an ISO to call several departments to get all of the necessary account
relationships and paperwork established. If it takes 48 hours to 72
hours to set up the service, the merchant could easily sign a deal with
another ISO before everything is in place. The website includes a
quick quote calculator to enable ISOs to quickly determine rates for
merchants.
There are also dedicated sections on the site for merchants and
merchant-level salespeople, enabling them to get answers to questions
on statements or on other payment-related subjects at
any time of the day, including technical support for terminals,
software and related systems.
EVO can help merchants with their e-commerce needs as well. The
internet typically adds 25 percent new revenue to many businesses. For
many industries, such as travel, it has become the primary way to
purchase. With the high price of gasoline, some economists expect
internet sales to increase more sharply near the end of this year than
ever before. EVO helps merchants open an internet sales channel as a
stand-alone site or as an additional channel for businesses with
brick-and-mortar locations.
EVO owns one of the countries fastest growing third party processors
for EBT and supports programs in all the major EBT states. Customers
that use government program cards such as Social Security, and state
issued food stamps will be able to shop at your store. It’s streamlined
and brings new business.
For merchants who want to give customers the option to accept checks as
well as card payments, the EVO network can approve a check from any
bank, savings and loan, or credit union in the United States, enabling
the merchant to safely allow customers to pay the way they prefer.
Personal Support, Too
Dedicated relationship managers provide human support behind the
world-class technology to help ISOs get the most out of all of the
resources and programs that EVO offers.
24 hours a day 7 days a week, company-staffed support for ISOs and
merchants provides unparalleled service. While many other companies
have outsourced support and other service-related functions, EVO has
chosen to keep these functions in house. The support includes managers
who are available around the clock when necessary, Rosenblatt says.
“The ISO knows he can get through to someone who can help him with any
issue.”
In 2006, EVO will go one step further with proactive outbound calling
to merchants so that we can determine that their needs are being met.
“This goodwill approach will build relationships to ensure we are not
talking to the merchant only when they are ready to cancel.”
Rosenblatt says.
To meet its growth requirements, EVO will be moving to a new,
200,000-square foot facility, with an initial build out of 85,000
square feet, which will accommodate 400 of the company’s employees. The
new facility, about three miles from the current headquarters, is
expected to open in the first quarter of 2006.
Canadian Opportunities
The company’s growth will be buoyed not only by growth in the U.S., but
also by adding new clients in Canada and other countries. The expansion
into Canada has been underway for about three years, giving ISOs and
merchants with business north of the border expanded choices over the
six Canadian banks that have dominated the market for several years.
Doing business in Canada is different from the U.S., so it isn’t for
everyone in terms of processors, merchants and ISOs, says Rosenblatt.
Legal documents must be prepared in two languages, compliance
regulations are different and there are other business nuances. “ISOs
may not want to expend the time or effort necessary to do business in
Canada. Yet for some ISOs with larger operations, or those who operate
just over the border in northern U.S. cities, Canada could offer some
outstanding opportunities.” Rosenblatt says. Due to the business
differences between the two countries, EVO requires ISOs to complete a
training course before the company will approve Canadian accounts.
EVO expects to build on its growth by continuing to provide outstanding
service to merchants and ISOs, and perhaps through portfolio
acquisitions. The company has made about ten portfolio acquisitions
during its history and is keeping a watchful eye on other portfolio
acquisition opportunities, Rosenblatt says.
EVO ranks among the top electronic payment processors in the nation.
It has grown exponentially from origins in the bankcard business 10
years ago to become the 5th largest non-bank acquirer and 20th largest
acquirer in the U.S. At the end of 2005 EVO estimates an annual credit
card transaction volume of over $9 Billion and transaction volume
exceeding 150 million.
For partner opportunities,
please call Jim Fink
at 1-800-CARDSWIPE (1-800-227-3794), extension 7800,
or visit our website at www.goevo.com.
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