Listen to this articleHeadquartered in Salem, Massachusetts, Merchant Consulting Group (MCG) is a premier integrated payments technology company. The company invests in technology and fintech startups, and advises on robust omni-channel payment strategies for ISV, retail, and e-commerce companies. Since 2005, they have maintained the highest standards of service and support in providing top-notch payment processing assistance to thousands of businesses across the country. Most importantly, the company strives to build meaningful relationships with their customers.
Below is our interview with Jonathan Arst, the founder & CEO of Merchant Consulting Group:
Q: You’ve recently partnered with Parkloco as their Exclusive Payments Provider; could you tell us something more?
A: Partnering with Parkloco, a Boston, MA-based independent software vendor, has been an exciting journey. We will be integrating payment acceptance into their cloud-based platform, which shares real-time data with existing parking applications and navigation systems to establish a communication channel between parking lots and drivers. Not only have we been able to successfully enhance the Parkloco end-user experience with the added feature and benefit of fast and secure payment acceptance, we are able to offer parking structure owners who integrate their point-of-sale (POS) systems with Parkloco software the opportunity to receive additional analytics and cost-effective payment acceptance.
We’ve also recently partnered with Tracker Management Systems, a Cleveland, OH-based independent software vendor. Tracker Management Systems provides dispatch software designed exclusively for the towing and wrecker industry. MCG payment integration will provide Tracker clients with the capability to process payments through the same Tracker Management interface that they’re already using. This enhancement is a significant value-add, as it will allow Tracker users to complete secure credit card transactions on the spot.
These partnerships have allowed Parkloco and Tracker to bypass the often complex, highly regulated and costly process of becoming a payment facilitator.
It is extremely important to us, that we allow our partners to focus on their area of expertise, without having to become a payment facilitator. With that, all of our SaaS and fintech technology partners have the freedom to focus on continued development of their software solutions, while MCG manages their sensitive payment data, PCI compliance, and other payment industry regulations.
Most notably, however, partnering with MCG will provide Parkloco and Tracker with an additional payments revenue stream. According to research from First Annapolis Consulting, an Annapolis, Md.-based payments-advisory firm, 49% of ISVs do not integrate payments functionality into their systems, likely due to the complexities of the payments industry. In partnering with MCG, ISV’s are able to easily integrate payments into their solution, and receive a significant payments revenue stream to amplify their SaaS income and drive a higher valuation for their company. Talk about a strategic partnership win, win.
Recommended: Media Network BuiltWorlds Connects Technology, People And Innovation In The Built Industry
Q: Who are the primary clients of Merchant Consulting Group and what are some of the key challenges you are helping them solve?
A: With a strong expertise in payments strategy, MCG invests in and partners with ISV’s and seed-stage technology and fintech startups, while advising them on how to best drive higher valuations by amplifying SaaS income with robust payment revenue streams. We also provide payment processing services and premier payments technology to small and mid-size brick-and-mortar businesses, as well as e-commerce businesses. Furthermore, MCG partners with many local banking institutions to enhance their merchant service offerings. Our mission is to consistently create a frictionless customer and merchant experience with innovative payment technology, competitive rates, and leading expertise.
Q: Can you give us more insight into your services and solutions?
A: MCG works closely with software developers, independent software vendors (ISV’s), and fintech startups. Our payment solutions allow our technology partners to improve their end-user experience and advance their SaaS income. We offer omni-channel integrated payment solutions through various direct gateway integrations, including mobile, in-app, POS, and e-commerce.
For traditional merchants, we strive to deliver a full suite of processing solutions. MCG services allow business owners to accept more payments by connecting to leading technology, safeguard their business with advanced security, streamline operations, increase foot traffic, and grow revenue.
Q: What advantage does Merchant Consulting Group have over its competitors?
A: We offer significant cost-savings compared to our larger competitors. MCG is a privately-owned company that has grown by re-investing in the business. With the CEO as its only investor, MCG can price much lower than the majority of its major competitors, who need to drive double-digit returns back to their investors. When times get tough, we see competitors cutting back on service and raising rates on existing customers. Fortunately, at MCG, we just roll up our sleeves and work harder. We depend on world-class customer service for our customers and partners to drive referrals and future business.
Recommended: VisTracks’ Hours Of Service Delivers Managed Services Platform For The Trucking Industry And Fleet Operators
Q: What are your plans for the future? (Events, Partnerships, Product Launches, Etc.)
A: We will be attending Money 20/20, October 22-25, in Las Vegas. This event is the world’s largest payments and financial services innovation trade show.
We are also organizing our 2018 Event Roadmap, where we plan to attend events such as, The CNP Expo, along with various other FinTech industry trade shows and conferences.
Our 2018 Product Roadmap is also close to completion. We will be launching products that provide further solutions to integrate “Merchants on Mainstreet” to mobile and e-commerce technologies, allowing their customers to pay ahead, order ahead, and integrate more frictionless payments options.
We look forward to raising brand awareness, developing new partnerships, and seizing new business opportunities – so stay tuned!
Activate Social Media:
