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Education

For additional perspectives on ISO registration, see the following articles
written for publication in The Green Sheet by prior Street Smarts authors
SM
and other industry experts:
• "ISO versus MLS status in 2017: The stakes are high," by Adam T. Hark,
Jan. 9, 2017, issue 17:01:01

• "Becoming Registered," by Adam Atlas, Aug. 11, 2008, issue 11:08:01
• "Ruminations on ISO registration," by Dee Karawadra, July 9, 2007,
issue 07:07:01
• "What is registration anyway? By Michael Nardy, – Parts I, II and III,
April 24, 2006, May 8, 2006 and May 22, 2006, issues 06:04:02, 06:05:01
and 06:05:02, respectively

your business model, you may find this to be an uphill Timing
battle both when dealing with merchants and when
attempting to recruit new sales agents for your company. Now, if you have decided that registration is in the future
of your business, you may be wondering at what point
Now, before I share some of the benefits of registration with you should register. This question also depends on your
you, let me point out that my own company Finical Inc. is business model. If you generate all of your business from
a registered ISO of Wells Fargo Bank. However, my goal your internal sales team, then you may not need to register
in this article is to help you make an informed decision, at all. I've worked with offices producing over 200 new
because in addition to the $10,000 annual registration fee, merchant accounts per month that were not registered.
you will also have far more responsibilities, and you will
be exposed to much more liability than you otherwise However, you shouldn't consider registration unless your
would be as an MLS. company is generating, at minimum, 100 new merchant
accounts per month on a consistent basis. Keep in mind
Business model that the card brands want you to register from day one, so
I am simply sharing my opinion with you, and this should
There are certain scenarios where registration is really the not be construed as legal advice.
only option, depending on your goals for your business
and your sales model. For example, if your company is In closing, make sure that your reasoning for registration
generating most of its business by recruiting experienced is in the long-term best interest of your company, not
agents, then you should seriously consider registration, influenced by misinformation such as being able to obtain
as most experienced MLSs would prefer to work with a better pricing through registration. Most importantly,
registered ISO, and generally frown upon working as an prior to moving forward with registration, consult with
MLS of another sales agent. an industry attorney to make sure your interests are
protected. If you need a referral for an industry attorney,
There are also companies that focus on a niche market, feel free to send me an email.
and it sometimes makes sense for them to register in order
to effectively establish a brand within that niche. In short,
there are many scenarios in which registration is the right Aaron Nasseh is the founder and Chief Executive Officer at Finical Inc.
option. And, frankly, if your company is well funded then His extensive sales and management experience includes having previ-
you certainly should register. But if you're a small sales ously served as the General Manager of CardPayment Solutions and
office, your primary focus should be on growing your Vice President of Sales at iPayment Inc. He may be reached at anasseh@
sales channel, because the upside of registration may not finicalinc.com or at 818-330-4055.
justify the cost and added liability for your small company.

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