Resources at the ready
A year or two ago, you had an article about a book someone wrote about being in the processing business, but I cannot remember the book or the author's name. I am interested in material that shares information on being a salesperson or ISO and what it entails. Hopefully, it will help me in my business growth efforts. I would appreciate any recommendations you might have.
First Capital Payments
You might be thinking of Bill Pirtle's book, "Navigating Through the Risks of Credit Card Processing." We reviewed it in The Green Sheet, June 28, 2010, issue 10:06:02. Here is a link to the review, which is titled "Guiding merchants toward honest processing partners": www.greensheet.com/emagazine.php?issue_number=100602&story_id=1975&search_string=Navigating%20through%20the%20risks%20of&search_string2=.
In addition, we have featured other books over the years that would be helpful in your research. I'll list several of them here:
How to Survive and Thrive in the Merchant Services Industry, by Marc J. Beauchamp and William Graham. Published by Performance Training Systems.
What Every Business Should Know About Accepting Credit Cards, by Anthony Ogden. Published by BankCardLaw Media Corp.
You also might want to refer to the Encyclopedia of Terminology for the Acquiring Industry, which was written by Donna Embry and published by the Electronic Transactions Association. For a more extensive list of books we've reviewed, please visit our Book Reviews page at www.greensheet.com/publications.php?flag=book_reviews.
From GS Online's MLS Forum
The premier online network for payment pros
Recently, GS Online MLS Forum member M1CHAEL asked other members whether they'd noticed an increased demand for mobile payments. Following are excerpts from the responses he received:
I am sure that it is more successful for some markets versus others, but overall and in my market, it is lukewarm at best.
- STEVE NORELL
I have to agree. There has been little demand to this point except in some niche markets. All of the new technology (chip, mobile, wallets) is in its infancy, and it will probably be years before it's commonplace.
[F]or the type of merchants that I deal with, and want to deal with in the future, I don't see mobile as being a tool that will appeal to them or in any way make their lives easier. It's a nice bullet to have available should the need arise, but I don't personally chase merchants that would need it on any type of regular basis.
I have several coffee shops that have started using SquareUp for their $2 transactions at 2.75 percent and no transaction fee. They are very happy with it.
We're seeing a huge and very noticeable increase in demand for mobile payments, and much of it is coming from our existing merchant base. More and more traditional businesses are adopting mobile payments to fit certain needs but not as their primary means of card acceptance. We set up at least one mobile payment account a day and often more. But we have our own app and platform, so we mostly give it away. We'd rather not have our merchants exposing themselves to an alternative provider like Square - even if it's only a small subset of their business. It's easier for them to download and use our app through their existing account than have two separate providers, especially since we can link their POS, terminal, mobile and web payments through a single gateway. But mobile is growing rapidly among traditional businesses, and reps should have a competitive solution.
To see all of the comments, please visit the MLS Forum thread titled, "Are you seeing the demand for mobile payments rise?"
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