Page 18 - GS180101

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Don't let acquisitions The biggest concern I hear whenever
a sale is announced can be summed
catch you off guard up in one word: fear. I hear comments
like the following: Is the ISO channel
dying? They only mention ISV. What
By Jeff Fortney can I do to protect myself?
Clearent LLC In previous articles published by The
Green Sheet, I talked about change
t could be said that 2017 will be remembered as the year of big and the steps necessary to adapt to
acquisitions. It seemed we couldn't go more than two months without change. I outlined several ways to
hearing about another sale or merger. These announcements usually help you continue to sell and even
I follow a similar pattern: reference the synergy of the two companies, expand your business. However, I
talk about how the acquirer saw opportunity to expand into a specific niche didn't mention how to overcome the
and then, finally, share a projected close date (which usually falls two to four emotion that surrounds change. The
months into the future). truth is fear can – and will – paralyze
your efforts if you don't address it
The ensuing conversation throughout the industry is centered on two basic head on.
questions:
The ISO channel is not going
1. What is this all about? away. It has evolved over time and
2. How does this affect me? will continue to evolve. The most
It can be said that everyone in the industry is impacted by an acquisition, successful payments salespeople
evolve with the market. They have
directly or indirectly. The impact may be felt immediately at the time of close, survived major changes in the past –
or it could follow a few months later. and even thrived. How you respond
to these changes depends on your
role in the industry.

Independent agents
Independent agents' actions are di-
rectly tied to their income protec-
tions. They must determine whether
they will still be paid for their efforts
after an acquisition. That aspect is
contractual and should be referenced
in agreements merchant level sales-
people (MLSs) sign. Pull out your
contract and review it, looking for
clauses referencing changes in own-
ership or your residual payment. If
they are missing, pause your efforts
and determine what needs to be done
to ensure you won't be left out in the
cold. And keep this in mind when
you sign future agreements.

The next step is to confirm that
your ISO partner is protected,
which depends on the ISO's current
processing partner. Your ISO has the
same fears you do. If the business
has partnered with a company that
was recently purchased, your ISO is
probably reviewing the governing
agreement as well.

After you've done your research
and are confident you are protected,

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