ISO Deposyt Joins the Square Reseller Ranks – Digital Transactions
Independent sales organization Deposyt has joined the reseller ranks for Square, the acquiring unit of Block Inc.
Tempe, Ariz.-based Deposyt says merchants with the ISO’s agents can now use Square’s platform and receive support from Deposyt. That means local help, Deposyt says in a statement, instead of a support queue. The ISO also says it hired an undisclosed number of former Square employees.
In addition to payments services, Deposyt also provides a dual-pricing program, a gateway, customer relationship management services, and automation tools.
From its inception in 2009, Square focused on a direct sales approach to reach merchants, but that began to change after 2024 when Block chief executive Jack Dorsey suggested it might enlist ISOs to sign more merchants. Since launching the program, Square has found success with it and brought on Mike Collins, a former merchant-sales executive, as global head of resellers. In May, Block Inc. said, in its first-quarter shareholder’s letter, Square was working with 140 ISOs. It did not disclose a tally in the second-quarter letter.
For agents, the new relationship can benefit those who may not want to become a payment expert. “Agents can bring their relationships to Deposyt and co-list their deals, while Deposyt handles the underwriting, onboarding, and support,” it says.
“Agents are the people merchants already know and trust. Why not all row together? This partnership shows what’s possible when we do,” Patricia Carlin, Deposyt chief executive and cofounder, says in a statement.
