A conversation with Dan Viscount, SVP and Co-General Manager, IPOS Division at EVO
ISVs often associate payment processing with the retail and hospitality verticals, but there are opportunities beyond these markets for software companies to make money from payment residuals. Dan Viscount — SVP and Co-General Manager, IPOS Division at EVO — recently spoke with The Business Solutions Network this and more.
Q: For ISVs not familiar with payment processing, why should they care about it and how can they make money off of it?
Viscount: The ISV and payment processor are symbiotic in nature. The point of sale needs integrated payments to avoid errors, dual entry and reconciled reporting. The effort for an ISV to develop and maintain an integration warrants revenue from a card processor. When an issue with payments occurs, the ISV gets the call first. This burdens service and support. The revenue stream from payments will in many cases supersede the revenue from the software sale. Companies receive the highest values on recurring revenue vs one-time sales.