Build Recurring Revenue With Payment Processing

Industry experts tell how to supplement POS (point of sale) services income.

How would you like to increase your revenue by as much as $100 a month – for every one of your POS customers? That level of recurring revenue would be hard to attain for every account, but adding payment processing services to your portfolio could augment your income exponentially over time. "VARs can expect to earn approximately $10 for every $10,000 their customers process, dependent on the size and number of transactions," says Jamie Nonni, COO of Nationwide Payment Solutions, LLC.

When you consider the revenue available from selling payment processing hardware and software with a POS solution, the opportunity looks even more attractive. "We have VARs generate as much as $1,200 with the add-on products [e.g. QuickBooks] for integrated processing in the accounting market," says Chuck Riegel, executive VP of Payment Processing, Inc. While it sounds easy, solutions providers should thoroughly research the potential of providing payment processing services to their current customers before developing an offering.