Posted by Kris Coughtry on Wed, Apr 18, 2012 @ 10:53 AM
We're at the Electronic Transaction Association Annual Meeting and Expo in Las Vegas this week, Booth 430 to be exact (Stop by for a chance to Win the New iPad). It's a national association trade show where payment providers meet to learn more about payment services including check processing and check guarantee and to network and build relationships. For ISOs and sales professionals, it's also an opportunity to hear about available ISO agent programs and to compare and contrast the programs being offered.
If you are an ISO or sales agent interested in adding new products to your suite of offerings, here are six things to consider when searching for a payment provider to represent:
1. Complementary products and services. Think of new products as additional tools in your tool belt. If you are already selling credit card processing, check services or gift cards can be a natural addition, providing your merchants with a whole payment solution. This can save your merchants money on set-up, equipment and training. Also, having all the tools can prevent your merchant from looking elsewhere for a provider that offers what you lack.
2. Flexible pricing. Work with a provider that can give you some flexibility on their programs and pricing. This may be important when courting new merchants and replacing their existing programs.
3. Comprehensive training. Find out if the provider offers thorough training on their services. Do they take the time to make sure you understand how the services work, what equipment, if any, is needed and what is required to sign up merchants? Having a good understanding of the ins and outs, features and benefits will result in better use of your valuable time, more productive sales calls and happier merchants.
4. High standard of customer service. As a representative of a payment provider, their customer service is your customer service. How they treat your merchants reflects on your business so make sure their idea of customer service aligns with your standards. Working with a company that provides 24/7 customer service can save after hour demands on your time, too.
5. Quality product offerings. Let's face it, your value-add service needs to provide real value or it will be a tough sell. Find services that help your merchant by increasing sales, reducing risk or saving time through streamlined processing, desktop deposit or less paperwork, for example. Services that can provide these measurable benefits can be key to a long-term merchant relationship.
6. Reputation and Experience. Make sure you're working with an established, well-respected company. While it can be fun and exciting to represent the newest technology or innovative service, you don't want to jeopardize your merchant relationship by selling something that may not be supported in months to come. Find a company with years of experience working with ISOs and one with a history of paying residuals.
CrossCheck has offered on-going, lifetime residuals to ISOs for over 28 years. For information on sales opportunities, affiliate programs and unique check guarantee services, contact our ISO and Partner Relations team.