Paul:
I have been a registered ISO for 9 + years now and, of course, my office has set up hundreds of merchants with Discover. We donít do that now unless they specifically request it, and we usually charge a set-up fee for Discover only.
I also own retail stores and I thought you would get a kick out of the attached solicitation to one of my own stores that I had set up with Discover. I wonder how many of MY merchants received this letter who I set up FOR Discover. Thanks Discover.
Regards, Eddie Burke
"Are you paying too much for your credit card services?
We can help. You are a valued customer and we hope to save you money on your credit card services. Many businesses are paying more than they realize for credit card services. If charges on your credit card statement include transaction fees, statement fees, and monthly fees, you may be surprised how fast the charges add up. Many merchants sign an agreement expecting to pay 1.69% and end up paying more than 3.00% when other fees are taken into account.
We would like to visit your business and help you determine exactly what you are paying for your current program. If you find that you are paying more than you thought you may be interested to know NOVUS Services has a complete credit card program available to you.
Our program benefits include:
We also process Visa® , MasterCard® and American Express® Card transactions. Give us a quick call to take advantage of our experience in the credit card industry. We would be happy to talk with you about the possibility of saving your business money.
Give your business a free credit card check-up.
Please call us toll free at 1-877-896-4108 Ext. 106.
Sincerely,
Mary Ann Dabdoub
District Sales Manager"
To Green Sheet:
Hello. I currently work for an ISO of Paymentech and we handle credit card processing. Someday, I would like to have an ISO of my own, maybe not necessarily in the financial services arena, but in another field. I know that your magazine doesnít deal with other fields of interest. My question is: where can I read about other types of ISOs, and what do you think of ISOs in general? I think that my boss paid a large sum of money to be an ISO of Paymentech, and I wanted to know what other criteria are involved in becoming an ISO?
ISO:
Perhaps you are not aware that you can sell other financial services as a direct ISO, without paying $10,000.00 for the privilege. One of the hottest sales in the next couple of years is going to be checks. The sale of RCK, ECC, and other check services, including equipment, can be as good as bankcard ever was. You should contact eFunds at (800)338-6372 or CrossCheck at (800)654-2365. (Tell them I sent you). These are just two of many companies that you could sell for.
Good Selling!
Paul H. Green
Editor-In-Chief
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Petaluma, CA 94955-6008
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