Merchant Sales Podcast

Compliant surcharging can be quite profitable for ISOs and their sales reps. But before proceeding, ask yourself: (1)What is the average ticket size of a prospect/client? (2)Do we have technology to integrate with the billing system, so statements are accurate and understandable? (3)Do we have an omni-channel solution? Payroc, sponsor of this Merchant Sales Insight, has done a fantastic job of bui...

Scott Adams, CEO at Fraud Deflect, joins James & Patti this week to explain Visa's new rule changes around the type of chargebacks commonly referred to as "friendly fraud.' "These changes are going to be a game changer for some merchants," said Scott. Then James addresses what he describes as the race to vertical SaaS solutions, and Patti reports on a chargeback mitigation firm that has found itse...

There are three foundational pillars - tech capabilities - upon which ISOs and agents can build successful merchant services marketing plans. 1. A statement analysis tool that supports quick turnaround with 100% accuracy. 2. A tool for creating instant savings estimates without the need for uploading statements. 3. Customer proposal templates. ISO Amp, my company and the sponsor of this Merchant S...

In this week's featured interview we explore how ISOs and agents can slash merchant attrition with gift card and loyalty programs. Some agents are seeing attrition rates fall by as much as 50%, simply by offering gift card programs, explained Dan Battista, CEO and Partner at Factor4, a leading provider of omnichannel gift card and loyalty programs. Next, James offers insights on selling payment an...

All too often banks make it difficult for ISOs and agents to set up accounts. Not so neobanks. Neobanks are fintechs with apps that streamline mobile banking. And neobanks are a potential game changer for merchant services. ISOs and agents are uniquely positioned to profit from neobanking. Maybe even more than they profit from payment processing. Netivia Banking, the sponsor of this Merchant Sales...

Learn what it takes to really make it in merchant services. "Focus and intention are critical", says Elaina Smith, CFO at Secure Bancard. Later on in the episode, James draws on his own experiences to offer advice on what it takes to launch a software company, and Patti has some new insights on consumer spending and card usage.

James puts a new spin on an old way of compensating sales agents, the profit true-up. In this episode of the Merchant Sales Insight, you'll learn: - What a profit true-up is & how it works - How dual pricing is dramatically changing the math around profit true-ups, as well as overall account profitability - Using profit true-ups to evaluate potential ISOs/processors for your accounts This edition...

In this special edition of the Merchant Sales Podcast, James explains Visa's recent decision to cap credit card Surcharges at 3%, and how that will drive more ISOs and agents to pitch Dual Pricing. Plus, James interviews Eric Bernstein, CEO at Valor Paytech, on how Valor terminals can support both Dual Pricing and Compliant Surcharging, and together James & Eric respond to agent questions.

Use excuses to your advantage. Here are three key considerations: 1. Have a good excuse for calling on a business owner in the first place. 2. Justify (have an excuse for) why you're calling on the merchant now. 3. Negotiate for time throughout the process. Keep the business owner in a negotiating posture for as long as possible. Use lines like, “Well, one more thing, and then I’ll let you go," an...

This week's podcast features Dave Humphrey, President at Bryte Payment Solutions, discussing the importance of first impressions and maintaining open channels of communication. James shares his insights on starting a vertical-specific software company based on his personal experience, while Patti reports on a new Visa initiative that promotes interoperability between P2P payment networks.

Pivot the conversation to a purely financial decision, where an investment of a few hundred or a few thousand dollars can generate awesome returns through dual pricing. There are three ways I see these type of deals getting done. The merchant pays early termination and other costs incurred breaking the contract, and recoups multiples of that amount by eliminating most of their interchange costs. T...

Newbies and seasoned merchant sales reps, alike, will benefit from this special edition of the Merchant Sales Podcast. In this podcast, James gets down to basics, answering oft asked questions like "What exactly is payment processing?" and "How do ISOs and reps make money?"

There is no one-size-fits-all method of getting a merchant to give you a processing statement for analysis. But these are 3 ways that have been proven to work. (1) Simply Ask: Reach out to the merchant directly and request their processing statement, offering to provide a proposal and other relevant information for their review. This straightforward approach can often yield positive results. (2) E...

If you're selling Non-Cash Adjustment, Dual Pricing, Cash Discounting, or Compliant Surcharging, you are not going to want to miss this special edition of the Merchant Sales Podcast as James discusses 3 scenarios for differential pricing and actions ISOs, agents and their merchants can take to avoid running afoul of Visa rules. Reminder: Visa has said it will be ramping up compliance checks for su...

In this week's episode, James interviews Steven Morris on how to build a succesful 1099 sales agent team. Hint: The solution is not to recruit everyone with a pulse! Next, James discusses one of the most important decisions facing our industry in terms of technology and that is, processor agnostic or in-house processing. Finally, Patti provides an insider's report on Fed Now, a real time payment n...

Learn how CNP Mentors works with ISOs and agents to tamp down merchant chargebacks and fraud. "Even the worst offenders, with the right tools systems and knowledge can get chargeback rates down," explained Scott Adams, CEO of CNP Mentors. Then James continues his series on merchant objections, this week addressing the question "What to do when selling dual pricing and a merchant doesn't want to up...

Explore the true costs of payment processing and revenue opportunities for sales reps! In this second edition of my payment processing series you will learn about: - Merchant fees - Card brand fees - Schedule A costs - Selling on price vs. selling on value

If the Silicon Valley Bank failure showed us one thing it is the role of social media in triggering panics, explained Vlad Sadovskiy, CEO at Netevia Banking, in this far reaching conversation on the fallout around SVB's failure. Then James explains how to sell merchants who are locked into contracts, and Patti reports on Visa's continued commitment to crypto.

Payments processing is all about moving money. This episode of the Merchant Sales Insight zeroes in on the particulars - the technologies and processes that drive the movement of money, and by extension your residual streams. - Learn how money flows from cardholder's account to merchant's account - Discover how interchange works, and why it fluctuates. - Identify other costs that get built into me...

In today's episode we speak with Lance Lehr, CEO at One POS. We discuss their focus on the bar and club merchant types and the unique challenges faced by these merchants. After the interview, James provides his rebuttal to the objection "My software is already integrated with another payment provider" and Patti gives an update on the BNPL industry.

ATMs are a really good fit with dual pricing, and a great addition to residual streams. Here are 3 reasons why you should be selling ATM services. First and foremost is the psychology of the merchant offering customers a way to get cash should they want to take advantage of a lower cash price. Experience suggests few do, but they appreciate having the option. Plus the merchant can earn money every...

"Clover works for just about any business," says Josh Holden, President of HTB Business Solutions. Plus, it has "brand recognition," Josh explains during this week's featured interview. James follows that with a discussion of capital allocation, and Patti reports on new fraud trends driven by AI.

The most successful merchant sales reps are payments experts; they really understand the business of payments processing. Here are 3 surefire ways to establish yourself as a payments expert: (1) Read industry publications, like the Green Sheet, and listen to podcasts like the Merchant Sales Podcast. (2) Tune in to industry experts on social media. A good place to start is at my LinkedIn page. (3)...

"Think in terms of things that take merchants away from pursuing their passions," said Laz Kalemis, CEO at Simpay. In this week's featured interview, Laz explains how by cross-selling merchants on services like payroll, business insurance and marketing, Simpay doesn't need to board as many merchants each month just to maintain revenue flows. Then James describes a successful model for building W2...

Software companies have two major pain points as relating to payment processing. (1)The terrible integration processes provided by legacy solutions. (2)Merchant on-boarding. Software companies want to make signing up for a new payment processing account easy and fully automated. These companies are also looking to make money on payment processing! This edition is sponsored by Tilled. Tilled is not...