Feed the Beast: Why Payment Processors Need a New Recipe for Merchant Success
The race to zero is over. You’re already there.
Transaction fees have been shrinking for a decade, and every payment processor sells the same commodity. That’s why more small businesses are implementing cash discounts or pushing processing fees to consumers.
When you’ve hit rock bottom on fees, you have three options:
- Add more merchants
- Retain more merchants
- Create new revenue streams
But attrition is eating everyone alive. It’s the elephant in the room at every industry conference. Talk to anyone in the payment space, and they’ll confirm it. We’re hearing it repeatedly in our conversations with industry leaders.
Your Merchants Are Hungry Beasts
Think of your merchant portfolio as a beast that needs feeding. If you’re not nourishing them with growth tools, they’ll find someone who will. The old “competitive rates and great service” menu is no longer filling. Your merchants need substance, real tools that help them compete in today’s digital marketplace.
The Special Ingredient: Klosebuy
What’s the secret sauce that keeps merchant’s fat and happy? It’s Klosebuy.
We focus exclusively on SMBs and their digital challenges. Klosebuy connects merchants directly to consumers’ mobile devices, helping them:
- Engage existing customers through digital marketing & loyalty
- Communicate instantly with their customer base
- Acquire new customers through our shared community app
The Flywheel Effect
When your merchants succeed with Klosebuy, they process more transactions and stay with you longer. As more join your ecosystem, value increases exponentially. Each merchant brings customers who discover other merchants, driving transactions across your portfolio.
Payment processing has become a commodity. The real value is in helping your merchants thrive digitally.
Feed your beast with Klosebuy and watch your merchant portfolio grow fatter and happier than ever before.
Ready to give your merchants the nourishment they need? Contact us today at Sales@klosebuy.com