2020 was a huge year for every industry, but especially the payments sector. Independent Sales Organizations (ISOs), Independent Software Vendors (ISVs), and merchants were forced to adapt their processes throughout the pandemic to fit their customer’s changing needs, while also expanding their own technological capabilities.
Here at ICG, we helped many of our new customers adapt so that they could keep their businesses open and healthy. This experience with our new clients made us realize that we want to continue to ease our onboarding process. Our initial startup and Underwriting process can be complex, so we work hard to educate our merchants and our ISO and ISV referral partners to help make it as easy as possible.
This blog walks through our entire ISO and ISV program onboarding process. Our goal is to give merchants the payment processing tools to continue building their business, even in changing conditions like a pandemic.
In a Discovery Call, an ICG Sales representative will walk you through our ISO & ISV program by discovering the requirements of the partner’s merchant candidate and listening to their pain points to help customize a solution to best fulfill the needs of their business plan. ICG will not compete to take the merchant processing from you. We are only interested in adding value to your credit card solution by offering the technology to help you maintain the merchant relationship.
The different solutions presented to the merchant will focus on fulfilling these needs.
By the end of the call, the merchant can realize the opportunity and begin the application process. The ICG Pre Application collects data from the merchant that the ICG Sales team will input into the Final Application and utilize to create the proposal. Both of these documents require a signature from the owner or officer of the company to move into the next phase.
In the Merchant Application, customers have the option to add to their gateway to provide numerous ways to make payment, offering ACH and credit card processing within the same online virtual terminal.
ICG offers ISO and ISV partners many tools for successful payment processing for their merchants’ needs. Merchants who want to utilize Interactive Voice Recognition (IVR) technology can choose from a variety of voice-overs to allow their customers to call their business without the immediate burden on the staff to answer frequently asked questions. They can also set up a schedule to make a recurring bill payment, either with their banking account on file with ACH or a credit card transaction. Additionally, ICG creates a custom payment portal or an iFrame embedded for the merchant that they can seamlessly integrate into their current website or have as a standalone page to use for collecting payment. The ICG payment gateway offers a personalized solutions package to accomplish all of this.
Merchants are educated about the invoicing options with Email and SMS during the initial Discovery Call. They also learn about the solutions specific to ACH that bolster the solution for higher efficiency, like Check Verification and Plaid.
The ICG sales representative works hand-in-hand with the ISO, ISV, and/or other referral partner representative to collect the necessary documents from the Pre-approved Merchant, whether they want a CC-only payment gateway or utilize offering CC and ACH in their payment gateway.
The ICG team keeps the ISO, ISV, or referral partner abreast of all communications to the merchant, including when our support team sends the final application for signature, when the merchant signs the application, and when their merchant account gets approved. Learn about our underwriting process here.
Documents must possess certain details for the Underwriting team:
-The info on the application matches the documentation
-The merchant has a good financial history
Once through underwriting, and the account gets approved, we always send a Welcome email from ICG Tech Support that the gateway went live.
Depending on the solutions included in the gateway, the merchant receives further instruction in the Welcome email.
While the account passes through departments, support may reach out to the merchant or the referring partner to discuss how such solutions usually help other merchants we support in their industry.
Then, ICG sales rep will send a follow-up email to the merchant and the referring ISO, ISV, or other partner, encouraging them to complete a test transaction as stated in the Welcome email.
From here, ICG Support also helps them navigate the next steps – especially if they have a payment portal that needs to be built.
The scope of their project can go through the ICG website, clicking Resources and then Payment Portal Deployment. The merchant can also send a request to the ICG Support Team to schedule a call to discuss by phone the custom options they need.
The ICG Sales team contacts ICG Tech support to relay the merchant requests and requirements. We have a process in place that covers how to manage the integration of merchants with ICG. It includes a workflow interaction between the different departments that assists the ICG Sales team to communicate the merchant needs to the ICG Tech development team, including solutions like Quickbooks, Email invoicing, iFrame implementation, IVR, and more.
As for the ICG Verify product and the Plaid solution, the support team shares the details of the configuration flows with the initial boarding process. These merchants easily fulfill security requirements for Nacha processing ACH transactions with the ACH processing solutions provided.
The ICG team invests the time to provide a successful and comfortable transition. This onboarding process leaves time for more merchant training on products, including but not limited to the Online Terminal, Quickbooks Online, and Quickbooks desktop.
Our ICG Sales team will gladly get on every sales call to make the presentation for you until your ISO and ISV representatives feel ready to “take the wheel and sit in the driver’s seat” to close the deal. Great client experiences come from knowledgeable ISO, ISV, and referral partner training to the merchant.
If ICG’s solutions are presented clearly from the beginning, with proper expectations set, and a complete application is submitted to the UW in a timely manner, merchants will integrate and process with our payment gateway for years.
Our attrition rate is extremely low because we solve so many technology-related challenges for our merchants and offer comprehensive support to satisfy customer questions and concerns. Your merchants will stay satisfied in good hands with the ICG support and tech teams working together to help them process payments confidently with our gateway.
If the merchant has questions about their statements, or they want to add more custom changes to their payment processing solutions, they can reach out to their ISO, ISV, referring partnership representative, or even our ICG Support team. The ICG team will pass on any communications to the owning referral partner to continue building a stronger and more confident partnership.
As long as the merchant processes with ICG, we will give them comprehensive support to help them continue doing business efficiently and securely, building the relationship on behalf of supporting our ISO, ISV, and other referring partners.