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Table of Contents

Lead Story

ISOs no longer need bank sponsorship in Europe: Are you ready to go?

Caroline Hometh
RocketPay LLC

News

Industry Update

Fitzsimmons leaves First Data for Cynergy Data

FBI warns banks of new cyber threat

InspirePay's new way to pay

Fiserv sues FIS over alleged patent infringement

Trade Association News

Features

An interview with Kevin Smith

Ken Musante
Eureka Payments LLC

The business of being social

Research Rundown

Meet The Expert: Alan Kleinman

Selling Prepaid

Prepaid in brief

Gift cards reinvigorate ATM channel

The slam dunk of stadium cards

David Parker
Polymath Consulting

Views

Prepaid opportunities ahead

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Hard lessons and easy pickings

Bill Pirtle
C3ET Credit Card Consortia for Education & Training Inc.

You're never too small for an HR department

Alan Kleinman
Meritus Payment Solutions

Durbin - the aftermath

Adam Moss and Jeffrey Shavitz
Charge Card Systems Inc.

Skimming through the holiday season

Nicholas Cucci
Network Merchants Inc.

Riding the POS life-cycle wave

Dale S. Laszig
Castles Technology Co. Ltd.

Company Profile

Alpha Card Services Inc.

New Products

Next-gen reader expands mobile

ROAMpay G3X Swipe
ROAM Data Inc.

An open SDK for mobile payments

Pay Anywhere SDK
North American Bancard

Inspiration

Belief makes dollars and sense

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

January 23, 2012  •  Issue 12:01:02

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Inspiration

Belief makes dollars and sense

The business of living can be a tough sell. Hurdles abound, from how to make that mortgage payment to staying employed in a difficult economy. But what gets you through is belief, be it in a higher power or simply in yourself - that you will find the grace and wisdom to make your dreams come true in time.

Belief is also at the heart of the business of selling financial services. There is nothing so powerful and motivating as having an emotional connection to the products you sell. You're not just trying to make a buck.

Instead, you truly believe that your services will help merchants stay in business, make more money, and even enrich their lives beyond mere dollars and cents.

But maybe it's not so much belief in the superiority in one type of card reader over another, or that a certain gateway never goes down. Of course, some products are better than others, but there will always be a better, faster, cheaper POS device than the one you're selling.

It's the nature of invention that a superior technology is always on the horizon - the next whiz-bang gadget that promises to put your technology to shame.

However, belief in a company philosophy or a set of business practices can run much deeper. Maybe your ISO treats its employees with a measure of respect and dignity that makes you proud to be associated with it.

Or perhaps your company is devoted to charitable giving, to the extent that the boss doesn't give himself or herself a raise and sends more money to a heartfelt cause on behalf of the company instead.

Believe it.

Whatever anchors your belief in a company, it is the same feeling or belief you exude when you make a sales call. When you approach a merchant, you're not just armed with a charming smile and a good hook. You walk in with your ISO figuratively behind you.

When you tell a merchant your ISO offers excellent 24/7 customer service from a dedicated call center in the United States that is staffed by knowledgeable associates, you know it is, in fact, true. In this sense, the ISO is supporting you and giving you the confidence to make your pitch with conviction.

Consider the opposite. You approach a merchant knowing deep down that your ISO's merchant contracts come with bogus fees. Assuming you find the practice unethical, how can such knowledge not undermine your pitch?

How can you have confidence in the product you're selling if your belief in the ISO that supplies it is faulty?

Be assured many merchants pick up on your belief in the company you represent, or lack thereof. Merchants have been burned enough in the past to be wary when you approach them.

They can sense when something rings false in your voice, or maybe it's your eyes that give you away. You may be able to fake your way through a fancy presentation, but it's impossible to fake belief.

Change it

Working with partners and companies you fully believe in spills over into your private life. Since you spend so much time at work, having pride in your ISO makes work more enjoyable and less stressful.

When you transition back to being a friend, parent or spouse at the end of the day, you don't have to deal with the emotional and psychological baggage of having to work for a shady ISO day in and day out.

Thus, when you hear horror stories about what goes on at less than ethical or careless ISOs, you can be grateful that you are not associated with them. And if you are unfortunate enough to work with such an ISO, maybe changing that situation is in order for the new year.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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