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Education

Scenario 2 Consider all angles

You have identified a major merchant opportunity. However, the merchant As you think about responding to each
insists you complete a Request for Proposal (RFP). You review the questions scenario, look at each opportunity
and estimate how much time it would take to complete the document. To do from all angles, including the most
it right would require a serious time commitment; you're not sure you have important one, which is directly
enough time to complete it before the tight deadline. You also see areas in the above ‒ from 10,000 feet.
RFP that will be challenging to meet or for which you don't offer some services
the merchant needs. In Scenario 1, will the revenue be
sufficient if you drop the price? If not,
Your choices are: would the known benefits of signing
1. Politely decline the opportunity. this premier client offset insufficient
revenue? How long would it take to
2. Weigh the value of signing the merchant against the time needed to generate additional revenue to make
complete the RFP. Determine if the investment is worth the potential up for this deal? Will this merchant
reward. If so, complete the RFP. impact your ability to properly
3. Ask questions about the RFP to determine what is truly important so service your other clients?
you can ensure you address those areas clearly, or determine if this is
even a valid opportunity. For Scenario 2, are there too many
stumbling blocks that make the
Consider the possible responses and identify which would be your ultimate opportunity not worth your time?
choice. Will your earnings justify the hours
you'll spend completing the RFP? If
so, what can you do to ensure you'll
get the deal? Would your time be
more wisely spent on another deal
Let Be Your EMV Expert! that can generate higher revenue?
By looking at opportunities from
Your EMV Eco-System Made Affordable! 10,000 feet you may find the action
you want to take may not be the best
eProcessing Network has the secure, payment solutions to help you stay current with the
technologies that keep your merchants connected. And with real-time EMV capabilities, option in the near term, or even in the
retailers can not only process contact and contactless payments, Apple Pay and Android Pay, long term. Indeed, it might be time
they’re able to manage their inventory as well as balance their books via QuickBooks Online. to walk away from some tempting
opportunities.

However, there is always a chance
you will find a hidden gem that
others would miss because the
is EMV-Certified perceived value is too low. If that's
the case, your competition probably
isn't looking at the opportunity
from 10,000 feet. And, when you
think about it, stepping back and
examining an opportunity from all
angles is really what will give you the
best view from the top, which is also
known as success.

Jeff Fortney is Vice President, ISO Channel
Management with Clearent LLC. He has more
than 17 years' experience in the payments
industry. Contact him at jeff@clearent.com
1(800) 296-4810 or 972-618-7340. To learn about how Clearent
© eProcessing Network, LLC. All Rights Reserved.
eProcessingNetwork.com All trademarks are the property of their respective holders. can help you grow faster and go further, visit
www.clearent.com.

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