Know your SMBs: Merchant services

A data module to identify growing SMBs with new payment processing needs, only from Tarci

The SMB market is filled with enormous potential, especially for payment providers. However, about 20% of SMBs fail in the very first year, and about half of them fail within the first five years. Factor in the number of payment providers competing for business (hint: there’s a lot!), and it becomes clear that a payment provider needs a strategic advantage to grow sustainable share in the SMB market.

The Merchant Services data module from Tarci gives you that strategic advantage. 

This data module lets you align your sales and marketing efforts by providing you profiles of SMBs that not only need your offering, but that also have the greatest potential for high lifetime value. 

When you focus on high-LTV-potential profiles, you can expect:

  • Reduced customer acquisition costs
  • Reduced churn
  • Increased long-term profitability

Here’s how it works.

The Merchant Services data module returns profiles of growing SMBs that would benefit from new payment processing services to increase business efficiencies and lower effective costs. The businesses highlighted within this module may have outgrown their current provider, or they may not have the right solution in place – either way, they very likely have a need for a new payment processor, and you can be the first to spot that need.

For example, consider these businesses that could be included as module results:

Profile returned
Developing need

A bicycle shop with multiple locations that has just started offering online payments and shipping

An ecommerce solution that syncs inventory across stores

A veterinarian practice hiring more staff that currently only accepts credit cards

A mobile payment solution to let clients settle their bills right in the examination room

A once purely ecommerce business that has just added a new physical location, but that has not added or changed payment providers

A more effective solution to handle on-site payments

Those examples highlight growing SMBs with a real opportunity for new payment processing services, and the potential for high lifetime value if their growing needs continue to be met.

Now, imagine getting SMB profiles with that level of information on a larger scale, on a regular basis. Think of how that could impact your strategy, your allocation of resources, and your profitability within the SMB market.

That’s what the Merchant Services module can do for you.

Merchant Services is one of many modules included in a complete data solution designed for financial service providers: Tarci for Financial Services. To learn more about the entire module suite, click here

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