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Why every MLS needs to third-party processors specifically
because they offer broader solution
know how to cross-sell sets than traditional banks, accord-
ing to a new report from Mercator
Advisory Group titled Payment Accep-
By Barry Davis tance in a Complex Environment: Banks,
Watch Out. The message is clear: mer-
Womply chants want partners who help them
solve the broader range of the busi-
he merchant acquisition industry is at a crossroads. For decades, ness problems they face each day.
ISOs and merchant level salespeople (MLSs) have been able to
collect steady revenue by concentrating on the sale of credit card "Small businesses are more com-
T processing services. This one-track approach will not be sufficient plicated and diverse than you may
moving forward for ISOs that want revenue growth and MLSs who want to imagine as they try to compete with
make real money. larger businesses for consumers' at-
tention," said, Karen Augustine, Se-
Merchants' needs are changing, and the industry needs to adapt. For agents, nior Manager, Primary Data Services
this will require learning how to cross-sell new products and services in at Mercator, and the report's author.
addition to credit card processing. This isn't just a matter of adding incremental "With the wide range of services of-
income for sales agents – it's a make-or-break strategy at a time of tremendous fered, merchants are looking beyond
upheaval for merchant acquirers. their banks for card processing ser-
Demands on the front lines vices, often finding alternative sup-
pliers of expertise and services that
To understand why cross-selling is critical, let's walk through what's happen- address their increasingly complex
ing on the front lines of American local business. For many years, ISOs have and specialized ... needs."
been undercutting each other on price, setting in motion a race to the bottom The need for better tools
and industry commoditization. Despite this trend, merchants are flocking to
Imagine you own a small, indepen-
dent restaurant. You read stories
Let Be Your EMV Expert! about mom-and-pop restaurants
trouncing national chains, and you
Your EMV Eco-System Made Affordable! take heart in the future of your busi-
ness. But you also recognize that you
eProcessing Network has the secure, payment solutions to help you stay current with the need better tools to attract, retain and
technologies that keep your merchants connected. And with real-time EMV capabilities, delight your customers, or you'll nev-
retailers can not only process contact and contactless payments, Apple Pay and Android Pay, er reach your business potential. You
they’re able to manage their inventory as well as balance their books via QuickBooks Online. don't have time to figure out all these
problems and manage the daily oper-
ations of your shop, so you're eagerly
waiting for someone to show you a set
of simple solutions that make sense.

is EMV-Certified ISOs and MLSs are incredibly well
positioned to come knocking with
the solutions merchants desire. The
challenge is to rethink the sales pro-
cess and move toward a more con-
sultative experience. Agents need to
become experts on a broader range of
products and services and learn how
to incorporate solution-based cross-
selling into every interaction with
merchants.
A market in flux

Today's merchants face a fundamen-
1(800) 296-4810 tally different business environment
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