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Education

Often merchants have had little to no luck getting in touch Are you their one-stop shop for payment related services
with their POS merchant service providers, as they were and products?
signed up when they purchased their POS systems. They
have no idea that they have options or that in most cases, Also, if you can let the answers to the following questions
they can change processors, provided the processor is guide every merchant sale, your attrition rate will be
certified. extremely low: What are your products and services
worth to your merchants? Why are merchants paying 5 to
The ability to take a consultative approach in offering 9 percent to companies that have a POS system that also
your products and services is a necessity with today's ties to the ecommerce shopping cart, yet are complaining
more complicated merchant setups. I often tell our MLSs about your pass-through plus 20 BPS? How do they define
and sales partners that I welcome the more complicated value?
merchant deals because it does give me the ability to
consult and find solutions that they need. This allows us For many merchants, it first comes down to cost. Are you
to go in and add on other products and services to help providing a service or product that is saving them money
ensure the longevity of the relationship. We are able to or time? For some merchants time is money, and they value
do this and often are not offering them any savings, but their time over the cost. Other merchants will spend every
rather a solution and convenience. waking hour at their business, so time is not a concern,
but cost is.
From Dee
One of my passions in the payments industry is the I hope this helps you think about the importance of
creation and use of technology. As we progress through consulting versus selling. Making full use of value-added
the evolving payment space we see the need for new products can help the bottom line, but more importantly,
technology. The traditional stand-alone terminal does not it will give you many a customer for life.
fill the need of the vast majority of merchants any longer.
The need to streamline services and convenience has far Safari njema!
exceeded the capabilities of traditional terminals. What
this brings to us is the opportunity to add on products Dee Karawadra is president and CEO of Impact PaySystem, and Emily
and services through an integrated approach. Karawadra is the company's chief financial officer. Since 2001, Impact
PaySystem has been a leading provider of payment processing technolo-
Find a solution that does this with your ISO or one of gies and services to merchants throughout the United States. Through
your processor partners. If you're able to place First Data alliances with payments industry leaders such as Chase Paymentech,
business, then the Clover is a great vehicle to do this with. First Data, Buypass, Sage and more, Impact PaySystem offers tailored
If you have access to gateways likes USAePay, Authorize. solutions to meet the unique needs of each merchant. Dee and Emily will
net or eProcessing Network, their merchant console welcome your questions and comments at dee@impactpays.com and
may be a great solution to deploy to merchants with an emily@impactpays.com, respectively.
ecommerce site and brick-and-mortar shop.

Many of these systems load products and
track inventory at multiple fulfillment centers Also find us on FaceBook,
and via ecommerce traffic. In addition, many LinkedIn & Twitter for the
of these gateways have automated clearing
house (ACH) integrated into their console, most up-to-date stories,
where you can collect payments via ACH or
recurring ACH. can’t miss events and newest
industry announcements.
The goal is for the agent to become a
consultant, rather than just a sales rep. When
you help link these types of value-added
products in a single place, that brings value
to the merchant and helps mitigate attrition.
Here are the questions that ISOs and MLSs
and other MSPs need to ask themselves: How
many value-added products and services can
you tie into one merchant account? How do https://www.facebook.com/TheGreenSheetInc
these services and products fill the needs of https://www.linkedin.com/company/the-green-sheet
merchants and make their lives easier?
https://twitter.com/The_Green_Sheet

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