Many expansion opportunities are available in international locations, says Todd Ablowitz, president of Double Diamond Group, a Centennial, Colo.-based consulting firm. ISOs largely have been successful at finding smaller merchants in the U.S. and selling payment services to them, and it is likely they can replicate that success with smaller merchants “around the world,” he says.
Payments companies should “think globally” but also “execute at a level they can support,” says Ablowitz. “To really be successful in payments, you have to be global,” he says.
There is “more stability and diversity of revenue” in international operations, agrees Ablowitz. “One area might get hot for your niche, and another might be stagnant for a while,” he says, noting for example that Near Field Communication technology is growing faster in some regions than it is in others. NFC technology enables communication between devices, such as an NFC-enabled mobile phone and a reader.
Many service providers that have expanded beyond the U.S. also are operating in Canada, Ablowitz says.
ISO & Agent Weekly, April 6, 2010
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