I'm not sure if you can help me, but I'm wondering if you can at least steer me in the right direction. I'm a rep for an ISO. I have a colleague who is also a sales rep and is thinking of getting out of the business. Instead of continuing to collect residuals and having to fulfill an annual commitment of accounts, they want to sell their "book" of business to the ISO. Do you have any articles on how to go about that? What do ISOs usually offer for this? Any help is greatly appreciated.
Perry Chepski, Merchant Level Salesperson
Perry,
Yes, merchant level salespeople do sell back portfolios and residual streams to their ISOs. Indeed, it is a fairly common practice. The first thing your colleague should do is review his or her ISO agreement. These typically address residual or portfolio sales and detail what is and is not permitted under the contract. Beyond that, a number of respected industry experts have contributed articles on this topic to The Green Sheet. I'll list several here.
In addition, you can search our archives for terms like "portfolio buyer," "portfolio seller," "residual sales," etc. Results will list articles containing those specific terms. Access our Search function from the left-hand corner of our home page, www.greensheet.com.
Thank you for your question. Please pass on our good wishes to your colleague.
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