Merchants willingly participate in programs that add value, according to data collected from thousands of small-business owners over the course of last year by National Benefit Programs.
NBP works with processors and large ISOs to provide discounts on more than 100 products and services that businesses need, an NBP press release says.
Operating much like a buying club, the group offers products that include office supplies, software, shipping, travel and electronics, according to the release.
After a 30-day free trial, merchants are automatically opted into the program at a low monthly fee determined by the processor.
In 2013, NBP found that more than 80% of businesses that were opted into their program continued to participate monthly. What’s more, when the program was offered to new customers, only 4.2% chose to opt out.
Categories, such as car rentals, computers, shipping, office supply and advertising were the most popular with merchants, with car rentals receiving 19% of all merchant visits.
“Our business grew by more than 300% last year,” says Diane Vogt Faro, NBP president, “and we know that true merchant satisfaction is behind that growth.”
Source: Iso & Agent, SourceMedia
Iso & Agent Weekly
Feb. 13, 2014
Volume 10, No. 6