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Table of Contents

Lead Story

Simple ways to better your business


Industry Update

Feds place chokehold on banks, processors

Apple changes app rules to include virtual currencies

Square ditches mobile wallet, offers cash advances


Your next third-party partner: Friend or foe?

mPOS shaking things up

Alternative payments gaining momentum


A fresh look at chargeback insurance

Gene Lieb and Laura Kaiser
Business Financial Resources


Street SmartsSM:
Auto-pilot and self reflection

Tom Waters and Ben Abel
Bank Associates Merchant Services

TRO/asset freeze: The FTC's nuclear option

Michael Thurman
Thurman Legal

Is that a terminal or a PIN pad?

Dale S. Laszig
DSL Direct LLC

Top five legal issues in the MCA industry

Andrew T. Hayner
Jaffe, Raitt, Heuer & Weiss P.C

Company Profile


New Products

Dynamic POS suite

DynaPro, DynaPro Mini
MagTek Inc.

FI-proven platform for merchants

SmartVista for Retailers
BPC Banking Technologies


Discovery leads to delight


Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

June 23, 2014  •  Issue 14:06:02

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Discovery leads to delight

Disruptive influences will continue to transform the payments industry in unforeseen ways, but one thing remains certain. The inextricable link between disruptive innovation and consumer delight has the power to drive change and empower entrepreneurs to deliver on the promise of a better future.

With a little forethought, this principle can be applied strategically during the sales process to engage merchants and increase the probability of closing sales. It all begins in discovery, the critical first phase that precedes initial contact with prospects.

Rather than approaching merchants with generic questions, discovery calls for mapping out relevant questions to create a foundation from which to build. For example, asking whether a restaurant has programs in place for advance ordering, customer loyalty, kitchen-to-server connectivity, or pay-at-table services can reveal plenty about the establishment’s level of systems integration.

Another important component of the discovery phase is to perform a thorough analysis of the merchant's website and social media network links. Not only does this step educate sales reps about many aspects of the merchant's business, but it can also expose potential risks or challenges the merchant might be facing, which can be addressed diplomatically during the initial sales call. It also helps agents prepare answers in anticipation of questions merchants might have.

Every pitch counts

Once in the door the performance truly begins. Armed with a positive attitude and a personalized sales pitch carefully crafted based upon business intelligence gleaned in the discovery process, now is the time to dazzle merchants with what you can do to help them reach their goals – starting today.

Following a merchant-centered sales presentation, some will be boarded without further adieu. Some will say no when you ask for their business. Leave them with a small gift to help them remember your company in a good light. Some may just need additional time to consider your offer. For them, follow up with the same aplomb, focusing on a plan that will result in a delightful outcome for all.

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

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Spotlight Innovators:

North American Bancard | Simpay | USAePay | Impact Paysystems | Board Studios