The future is here: how the Advantage App is powering the next generation of payments
Introduced by Vantiv Integrated Payments in 2016, the Advantage App has been out in the field for less than a year. We caught up with Matt Downs, Head of Channel and Business Development at Vantiv, to hear his thoughts on the App, where payments are headed, and how it’s all connected.
Question: How have you seen the Advantage Mobile App help our integrated payments partners over the past year?
Matt Downs: I see so much repeat volume and the same folks going into the app regularly. People no longer have to pick up the phone. They can open the app and check on the status of a lead without having to reach out to anyone. The next version of the Advantage App will be even better and provide even more information that positively affects our partners’ bottom line.
Question: In addition to making it easier for our partners to get the information they need faster, how else is the App saving time for our partners?
Matt Downs: Most of us don’t really work 9-5 anymore. We are all interacting in short snippets throughout the day, at night, and even on the weekends. What’s nice about the App is that it complements this new way of working and lets our partners address issues while they are in the middle of something else, which ultimately helps drive their business in a real time manner.
Question: While the App is a tool to help our partners keep tabs on their business, how does it also help them provide better customer service to their customers (merchants)?
Matt Downs: The App helps with the overall software user experience and customer support aspect of running an ISV or VAR business. Our partners’ clients (merchants) hold them responsible for everything. The App gives our partners a tool to share information with their merchants, as well as quickly access support when urgent customer service issues come up.
Question: How does the Advantage App support Vantiv Integrated Payments’ expanded product portfolio, including new value added services and our revolutionary cloud payment technology?
Matt Downs: It is so exciting to see all of our new integration technology introduced to the market such as triPOS mobile, triPOS cloud, and our bundled security solutions and data insights products. The App enables our business partners to learn more about these new technologies faster and easier. With access to resources, product videos, and now product training videos, our partners can take this information with them on the road and take advantage of on-demand training. They can watch an AdvantageU™ video on the plane or before a meeting, and get the information they need, when they have time for it.
Question: What are your favorite features of the Advantage App?
Matt Downs: The ability for a partner to quickly see how their business is performing. They can see exactly when a merchant has been contacted, and when they go live. And the Merchant Support trigger. With so much competition in the payments industry, merchants have a lot more choices. If we can get a call in to an upset client faster, the better the odds that we can keep that merchant—which of course ultimately helps our partners.
Question: With so much competition in our industry, what gives you the confidence that Vantiv Integrated Payments is investing in the right things to stand the test of time?
Matt Downs: Our scalability is a huge benefit to all of our business partners. Vantiv plays in so many spaces that if we have a partner who is pitching to a tier 1 merchant with very specific high tech needs, we can support that partner the entire way. As a company, Vantiv covers all aspects of payments and as the number one acquirer, we have a lot of experience servicing tier 1 and 2 merchants. And we can also help our partners break into this market.
Question: If you were a direct selling ISV or VAR, would you work with Vantiv IP?
Matt Downs: Yes, I would definitely work with Vantiv. The company has over 2.6 billion in assets, powerful front-end and back office tools, and over 650 employees that are educated about our integrated payments partner business. And the icing on the cake is that we don’t compete.
Question: You have been with Vantiv for 10 years, and previously you had your own POS company. From where you sit today, do you have any advice for aspiring VARs or ISVs?
Matt Downs: The payments business is changing and it’s changing quickly. I think it’s important to: #1. Partner with companies that can scale their support and technology to match your company’s ambitions; #2. Set yourself up for success by building in flexible, easy to update technology solutions; #3. Double down on customer service; #4. Continue to create revenue streams; and #5. Recognize when your business is stagnant and it’s time for additional capital to expand. If you can nail these five things, you’ll be successful.
Learn more about the Vantiv Advantage App today http://www.vantiv.com/adv