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ISOs: Top 2 Check Processing Questions to Ask

Posted by Todd Little on Thu, Sep 05, 2013 @ 03:05 PM

2 ISO questionsTime is money, right? So I’m not going to beat around the bush.  If you are smart enough to be selling check services, having a couple of precise, formulated qualifying questions in your arsenal is a huge asset. These two, simple questions will open the door to a conversation and can become an opportunity to provide a solution that will help your merchants be more profitable. And when they win, you win. So are you ready for the top two questions?

How are you processing your checks today? and What type of flexible payment options do you offer?

Why are these two questions so powerful? First and foremost, they are both assumptive and open-ended. This is vital in setting the stage for a truly consultative sales presentation. 

Let’s look at question #1 first: How are you processing your checks today? There are really only two answers; they aren’t processing checks because they don’t accept them, or they are, but they may not be aware of the many services available today. Two different directions, lots of opportunity – either way you’ve suggested you have a solution, and you do. 

Not using a service or not accepting checks at all just doesn’t make sense today. Checks are affordable, secure and are used by over 90 percent of US adults. Check processing services make check acceptance as easy as accepting a credit card (and usually less expensive). Electronic check processing such as remote deposit capture eliminates trips to the bank saving time and paperwork. Check guarantee services reduce bad checks and help with cash flow.

If they are already using a service, point out check programs that provide real value for their particular business. Check processing services such as CARS or MED-RDC are some of the services available that provide industry-specific benefits to auto dealers and medical offices, two business segments that rely on check payments. Bundled in with remote deposit and guarantee is a Future Deposit enhancement in the CARS service. This provides huge benefits to an auto dealer or repair shop. The option of processing with or without guarantee is available with MED-RDC, letting a medical practice process insurance checks at a lower cost.  Benefits such as these will let you stand out from the competition when meeting with a merchant.

Which leads us to question #2: What type of flexible payment options do you offer? As we’ve covered in previous blogs, check guarantee is not only about reducing risk. At CrossCheck, we see these services as tools to increase sales along with reducing risk. Check guarantee services do that by enabling your merchants to offer payment flexibility to their customers in ways no other payment service can. Imagine you’re an auto mechanic and your customer has just received news their brakes are shot. With a check guarantee service, along with Multiple Check, they can write you two – four checks and have you deposit them over a month or sometimes longer. They get the work done when they need it, now, and you can safely and securely take their payment. Check guarantee services enable new customers to make purchases, or businesses to pay by check, or deliveries to be made. Check guarantee provide your merchants’ customers with the option to pay by check without the hassle of a credit check, or a waiting period. 

Don't leave money on the table by not asking your merchants these questions. If you'd like more information on selling check services I hope you'll download our guide. We have a lot of free stuff that will help you provide the solutions your merchants need. Let's talk! Drop me a note in the box below.

                      check services, ongoing residuals, check processing          New Call-to-Action

Tags: Independent Sales Organization (ISO), Electronic Check Processing