The Green Sheet Online Edition
December 22, 2008 • Issue 08:12:02
How do I add value?
I'm new to the payments industry, but I've already learned that I'm going to have to offer more than bankcard processing to merchants if I have any hopes of succeeding as an agent in this business. What sorts of value added services do you recommend?
StellarPay Merchant Solutions
Congratulations on embarking upon a career that offers so much potential. The services you ultimately decide to offer will vary, depending on the markets you intend to serve, your merchants' unique needs and your personal inclinations. However, here are several sources that should help you become informed about the pros and cons of specific value added services:
- Your ISO or processor may already be partnering with a number of value added service providers, so that is a natural place to begin researching for such services.
- "Agents of change," published in The Green Sheet, Dec. 8, 2008, issue 08:12:01, discusses a number of promising value added services. Some of the possibilities covered in that article include dynamic currency conversion, merchant cash advance, Payment Card Industry Data Security Standard compliance services and prepaid programs.
- Every issue of The Green Sheet contains educational articles by industry experts. Many of them go into great detail about the benefits of specific value added services, how to sell such services and types of merchants for whom they are most appropriate. You can access our archives via the Publications link on our home page at www.greensheet.com.
- For perspectives from those who, just like you, are in the trenches, join GS Online's MLS Forum, and pose this question there. To join, click the Register Today! link in the upper right hand corner of our home page, and follow the prompts.
- SellingPrepaid.com (www.sellingprepaid.com), which The Green Sheet Inc. launched March 17, 2008, provides ISOs and merchant level salespeople (MLSs) a semimonthly e-magazine containing news from the prepaid sphere, selling tips, and industry and company profiles. It also offers news from the wire, a forum and other resources.
- Our advertisers are another fine source of information. Take a look at the display ads, as well as the listings in the Resource Guide, and get in touch with the companies offering services that appeal to you. While we cannot endorse specific companies, we do believe discussing your needs with a range of companies will help you become informed, as well as give you a sense of which companies might be the best fit.
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