Letters to
the Editor
Mr.
Green,
I noticed in the
September 7, 1999 edition of The Green Sheet a letter asking for the
names of companies that provided a guarantee of truncated
checks.
We recently paid
over $2000, for the year, to advertise in your magazine our services
as such. While I understand that you also offer a competitive product
as well, from what I understand your publication is separate from
your other business, so in the future would you please give an
accurate reporting of companies that provide these services, namely
including Global e Telecom when advising other entities of the
availability of this service other than just your own? It's called
"Good and Accurate Journalism".
Sincerely,
John H.
Beebe
President
John:
I see that you
purchased two Resource Guide listings, one under Check Guarantee and
one under ISO Relationships. I am sorry to say that I do not know
your company, and this is the reason that I could not make anyone
else aware of it. Perhaps you can provide more information, upon
which a story could be developed?
Your letter
pointed out to me that we should have a listing in the Resource Guide
for Check Conversion organizations, so I have asked that the staff
create this new section. You may wish to have your company added to
this new area.
Paul H.
Green
To The Green
Sheet:
I have been
working in this industry for about six years. I am always amazed when
ISOs don't pay their reps or change contracts without notice. It
seems like a vicious cycle. You hire reps, fill their heads with how
much money they can make, and then, after they start making money, it
is taken away. The ISO or sales office now has his portfolio growing
and sales reps have little to no recourse. In six years I have had
this happen three times in one way or another. I am now suing one
office for nonpayment of residuals, which is going to cost a small
fortune.
There are a lot of
good reps out there that have had this happen to them. Just this
week, two people called me to tell me the same type of thing, and to
ask how things were with the banks I was using.
There needs to be
some type of standard for sales offices or a rating to help
salespeople. I would like to make a complaint somewhere but have no
idea where to go. I realize that we can make complaints to the Better
Business Bureau but the reality is that salespeople won't go that
route. There should be a code of ethics for sales offices and
accountability. Can you advise or help? Maybe your paper can have a
"Shame on You" listing or "ISOs That Pay for Your services!" How
about "The Good, The Bad, and The Very Ugly"?
Breina
Hughes
Breina:
I am sorry to
say that through the years this has been a common concern in the
industry. A number of organizations have failed to meet residual
payment obligations, and some of those are no longer in business. On
the other hand, some sales reps have also been responsible for some
pretty despicable things as well, and their actions legitimately kept
them from receiving the rebates or residual payments that they
thought they should earn.
The point is
that in every part of our business there have been bad apples. It is
very hard to find the truth about a situation unless you know both
sides of the story.
The card
associations have stayed out of these disputes, even when they
involved a member bank being sued.
Perhaps in your
next relationship you should have your contract reviewed by counsel,
and check out the relationship more carefully. Talk to references
that have been around a while. Even ask if they have stopped paying
anyone, and why.
Paul H.
Green
Dear Mr.
Green:
We would like you
to know that we have worked with a few ISOs, banks, and check
guarantee companies. They all promised to pay residuals. No one but
no one kept their promises, except CrossCheck. We have been doing
business with them for over five years and have yet to miss a
residual check. It's a pleasure dealing with a professional
company.
I read your book
and was really impressed.
Cordially,
James P.
Dimitroff
Chairman-CEOMaster
Minds, Inc.
Dear
James:
Thank
you.
Paul
Green
Dear Green
Sheet:
I have gotten
business from this [merchant Web] site! Thought you would
like to know that it's working.
Thank you so
much!
J.
Harteis
Dear
J.:
I'm glad your
free ISO Web site at retailbusiness.com is working well for you. When
you have a special offering or want to make changes to your site,
please send that information to Laurie Ogg at greensht2@aol.com. We
can accommodate changes to your Web page once every six
weeks.
We appreciate
hearing of your success.
Good
Selling!
Julie
O'Ryan-Dempsey
Managing
Editor
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