GS Logo
The Green Sheet, Inc

Please Log in

Banner Ad
View Archives

View flipbook of this issue

Care to Share?


Table of Contents

Lead Story

Mobile gaining ground in stores

Ann Train

News

Industry Update

CVS Pay joins mobile payment roster

Walgreens rewards Android, Apple users

Oracle fails to predict, prevent POS breach

NFC a bargaining chip for Apple, Australian banks

Features

PayPal and Square: Q2 2016 earnings

Payments maintains strong presence on Inc. 5000

Mobile debit shift

Views

Virtual cards deserve a place among healthcare payment choices

Jeffrey W. Brown
VPay

No cash? No checks? Nonsense.

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
To own or not to own the POS system sales process

John Tucker
1st Capital Loans LLC

Selecting the right ISO partner

Aaron Nasseh
Finical Inc.

Become an agent of change in payments

Jeff Fortney
Clearent LLC

Payfac: Fad or new norm?

Adam Atlas
Attorney at Law

Is it time to hunt for greener pastures?

Steven Feldshuh
Merchants' Choice Payment Solutions East

Company Profile

Forte Payment System

New Products

Comprehensive POS, business management

Groovv POS
Total Merchant Services Inc.

Compact mag stripe, smart card, contactless reader

UniPay III
International Technologies and Systems Corp.

Inspiration

Qualify prospects, save time

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

September 12, 2016  •  Issue 16:09:01

previous next

Is it time to hunt for greener pastures?

By Steven Feldshuh

When should you start searching for "greener pastures"? The thought enters everybody's mind in most businesses. Whether it arises due to a call from a headhunter or from an amazing offer from an industry colleague, everyone has been there. The question has two possible answers: yes and no. This sounds silly, but given that you are striving to create wealth as a self-employed individual, it's important to recognize promising opportunities, while understanding that the proverbial green grass doesn't always grow under all conditions.

The payments industry continues to evolve due to advances in technology. As in the past one sees larger processors and banks scooping up smaller entities to either give the big boys more scale or to add some technology that the acquired company developed. Because we all face compressing margins, today more than ever, we need to have a solid plan in place, that gives direction and provides for safe growth.

Those who plan are doing the right thing. Most of us whose forte isn't planning either need a partner who plans (I have one) or need to understand that to make a living in payments requires a minimum five-year plan. Building a strong foundation based on recurring income is the goal, but getting to the point of comfort takes significant time, and for that, the right payment processing partner is of utmost importance.

What to look for in new relationships

So who is the right partner for you? This question will pop up as you grow, your business matures, and you gain knowledge and evolve in the industry. Yes, many companies advertise enticing offers, but you must be wary of unrealistic promises of riches and expensive free items. In truth, only a certain amount of money can be made on each processing business. If the offer seems too good, you are right, it is. So what should one look for? In no specific order let me spell it out, based on my own experience.

So, if you are not realizing in your business the benefits I just highlighted, maybe it is time to look for those greener pastures. Just make sure that if you decide moving on makes the most sense, you find a home that offers as many qualities as possible that are conducive to your long-term business growth. Be careful, be smart and read between the lines. No one is perfect, but there are strong, safe, sensible programs out there for you.

Steven Feldshuh, President of Merchants' Choice Payment Solutions East, has 18 years' experience in sales and ISO development. Directly prior to joining MCPSE in 2012, he was President of Payment Partners. In his current position, Steven devotes the bulk of his time to assisting agents in building their portfolios. Contact him by email at stevenf@mcpseast.com or by phone at 212-392-9202.

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

previous next

Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM