Concepts like Hardware as a Service (HaaS) and Software as a Service (SaaS) are changing the payment processing landscape. As a reseller, you can bundle your services and provide an all-encompassing product for your merchants. HaaS and SaaS work similar to a rental, where merchants are charged a monthly service fee to lease the services. Market research suggests that, “The HaaS market is likely to reach a value of US$ 304.80Bn by 2026 from US$ 40.88Bn in 2017.” We discuss the benefits of HaaS and SaaS and how you the reseller can profit from them.
Sign of the Times
POS resellers who don’t head into the HaaS and SaaS market are doing themselves a disservice and losing market share. According to Cisco’s Global Cloud Index for the period 2013-2018, 59% of all cloud workflows will be delivered as SaaS by the end of this year. The younger generation of buyers is shifting toward financing their purchases and enjoy the ability to upgrade to the latest models – much like car buying and technology – without breaking the bank.
Haas/Saas payment models are becoming more and more popular not just in the U.S., but around the world as well. According to the Economist Intelligence Unit, “Eighty percent of business buyers also want flexible payment solutions that can scale to suit their changing needs.”