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Table of Contents

Lead Story

Loyalty, the currency of choice

Ann Train

News

Industry Update

Disputes rekindled by Financial CHOICE Act

Barcode technology gets digital makeover

Home Depot joins chip-and-PIN protest

Aussie crackdown on card surcharges

Features

FICO pedestal cracking

Acquirer Earnings Roundup: May 2016

Mobile coupon tidal wave

ISOMetrics:
Restaurant patronage on the rise

Views

CFPB targets payday lenders: What's next?

Patti Murphy
ProScribes Inc.

Brexit doesn't mean UK will exit fintech race

David Poole
myPINpad

Will vaping go up in smoke?

Brett Husak
National Bank Services

Education

Street SmartsSM:
Shifting MLS strategies and models

John Tucker
1st Capital Loans LLC

Taking stock at mid-year 2016

Jeff Fortney
Clearent LLC

Five ways to combat attrition effectively

Aaron Nasseh
Finical Inc.

Guide to a successful portfolio acquisition strategy

Adam Hark
MerchantPortfolios.com

Company Profile

Traffic Jamming

New Products

Simple, secure cross-border payments

UP eCommerce Payment Solution
ACI Worldwide Inc.

360-degree solution for chargebacks issues

FPR-360
Chargeback Gurus

Inspiration

Finding opportunity

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

July 11, 2016  •  Issue 16:07:01

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Taking stock at mid-year 2016

By Jeff Fortney

The year 2016 was going to be the year you would do all the right things and implement new strategies to grow your portfolio now and well into the future. You changed your approach, had faith in your endeavors and took decisive actions to build a solid portfolio of merchant partners. And it all started on January 2.

You didn't see success immediately, which wasn't unexpected, but then nature intervened. Depending on your location, you may have received torrential rain, unprecedented blizzards, devastating tornadoes or blighting drought. In addition to forces of nature, numerous changes within the industry have impinged on new marketing efforts. So your best-laid plans were impeded. And your results reflect it.

Now it's mid-year, and your results aren't what you wanted. What do you do? Do you consider the changes you made failures? Do you revert to what you did in previous years? Every year about this time I am asked these questions. In almost every case, my reply is the same. I ask ISOs why they made the changes, and if those reasons are still valid. Usually the answer is yes. If they remain concerned, we usually talk through what I call the 10 most common mistakes made when selling payment services.

Mistakes to avoid

You may be among those who are frustrated by your progress so far this year. But before you make changes, review these common mistakes that can have a huge impact on your business growth and bottom line:

You made changes at the beginning of the year based on your desire to increase your revenue and grow a healthy portfolio. It's always wise to check up on the overall health of your plan, but be aware of the mistakes commonly made, and adjust accordingly. You will be glad you did, as you'll be one step closer to your business goals.

Jeff Fortney is Vice President, ISO Channel Management with Clearent LLC. He has more than 17 years' experience in the payments industry. Contact him at jeff@clearent.com or 972-618-7340. To learn about how Clearent can help you grow faster and go further, visit www.clearent.com.

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 | Harbortouch | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems