Why former sales from PSP is not a payment consultant
Consulting is a hot topic across many industries, and despite varying attitudes toward this field, one thing has long been clear: quality consulting can elevate a business to a new level for much less money and much faster than relying solely on in-house experience. However, the payment consulting space is particularly confusing: may former fintech employees consider themselves consultants. But is that really the case?
Employees of payment systems quite frequently go freelance, calling themselves payment consultants. Yet the only service they offer usually is reselling the solutions they used while working at their previous jobs.
Why isn’t this the kind of consulting most projects need, and how can you distinguish such a consultant from an experienced payment expert for your business?
Let’s explore that in today’s article.
Agents vs. Payment Consultants: Who is Who?
One of the key differences is that an agent works for themselves, while a payments expert works for you and your business — analyzing your specific situation from multiple angles and proposing a solution that actually works. Reseller-agents have one objective: maximizing PSP partnerships, which is why most cases get the same treatment — “I know a PSP that will definitely help you, let me connect you with my guys and your conversion will shoot up.”
An agent is a person or company that acts as an intermediary between businesses and payment providers. Their core service is finding providers on request and offering light assistance with onboarding — a warm intro, facilitating communication — in exchange for a referral fee from the PSP. The barrier to entry is extremely low: all you need is a network and the ability to connect people within it.
While this service can be genuinely useful and is often in demand — especially for startups that are still finding their way around PSP offerings — the market tends to be skeptical of agents who position themselves as consultants. The two are fundamentally different and address entirely different client needs. Payment consultants are experts with substantial hands-on experience who don't just make introductions — they solve real business problems in the payments space, help optimize operations, improve conversions, and even assist with hiring internal team. It's a full-service engagement built on operational involvement or deep-dive problem solving, and it often involves no new provider introductions at all.
The reality is that most businesses don't struggle to find a payment provider — they struggle with tuning, analytics, and getting results out of the systems they already have. Swapping providers rarely moves the needle on its own. There are certainly better and worse payment systems, and providers that are more or less suited to specific business types — and there are situations where selecting and refining that mix is exactly what's needed, which is where agents can add value. But in practice, the problems usually run deeper. A consultant helps optimize the existing setup, works with the data, and builds a long-term strategy.
Why Are There So Few Quality Payment Experts?
In payments, as in any other industry, you need to search carefully to find flagship products. But when it comes to the issues of payment processing, there are far fewer professionals in this area than in other fields. Why is that?
First and foremost, the boom in payment providers on the market shifts the focus from efficiency to quantity. It seems that by connecting everyone available, you can cover payment needs of clients and definitely not miss anything. Additionally, the aggressive sales tactics of payment companies don’t allow for relaxation. The focus shifts from “how to work efficiently” to “how many PSPs to connect.”
This is especially noticeable in iGaming: as soon as a project enters the market or even begins development, hundreds of sales managers from payment systems come, offering various options. Even a professional can get lost and consider connecting more providers than are actually needed, just to keep up with competitors.
Also, most consultants don’t want to be held accountable for the results of their recommendations. There’s a rational element to this: advice can indeed be good, but the client may not implement it or may do so incorrectly. In that case, the consultant will be blamed and their reputation damaged. Therefore, it’s much easier to offer only “safe” services like opening IBAN accounts, where the result is clear and there can be practically no complaints. Few are willing to guide clients from start to finish with implementation, as it can be expensive. That’s why most of those who enter the consulting market are former sales managers, not payment analysts or executives. Finding someone who genuinely helps clients, analyzes transactions, builds models, and takes responsibility for results is no easy task. But it’s precisely these specialists who bring real value to businesses.
How to Choose a Payment Consultant: Practical Checklist
We’ve already discussed the difference between an agent and an expert, but how do you find the latter? When selecting an expert to help you with payments, pay attention to several key factors:
- Experience in your industry or related fields. This could be the experience of the agency you’re contacting or their employees throughout their careers. The main thing is that your partner can clearly explain what experience they have, what they’ve worked on, and how they can help you with your issue.
- Case studies where consultants achieved real results without changing the PSP. This clearly indicates that they can build a reliable system independently of the PSP provider and don’t rely on the approach of “change payment provider and things will improve.” They don’t refuse to work with your system and don’t immediately suggest redesigning the entire project in their image. Consulting should be individual, and consultants should be flexible. Results can be achieved from any starting point. If the proposal sounds like, “We’ll connect you to payment system X; we always do it this way,” it likely won’t work.
- Strong analytical and business background. It’s important that payment experts understand metrics and their relationships, but numbers and tables alone aren’t enough: You need a business result. Therefore, a payment consultant should think strategically, from the perspective of a business owner, and understand how their implementations will help generate more profit.
If you’re looking for a consultant or considering speaking with an expert, the main recommendation for you is to define your main issue and ask precise questions. If you don’t have any issues and just want to hear an opinion, state that upfront. This approach will help you choose the right partner, and they will immediately understand whether they can help you.
About Us
At Monoup, we work according to these precise principles:
- Specialization: Gaming, dating, e-commerce, and similar verticals, with $500K+ monthly processing volume.
- Analytics: We build clear models and show the impact of various factors on the final result. You understand what’s happening, why, and how to fix it.
- Independence: We work with hundreds of PSPs, selecting the best one for your needs rather than offering the same solution to everyone.
- Results: 70% of our client cases involve optimizing existing systems, not arbitrarily changing PSPs. We manage projects, not just give advice.
If you’re ready for a data-driven approach, want a partner along with advisor, and are focused on long-term improvements, email us or reach out on Telegram.
