Page 41 - GS180102

Education

proaches Joe's Pizza and wants to
re-sign the merchant with Acme. Note that some processors have so much
As part of this service, Acme will
ask Agent Albert whether he is market share that they are legally prohibited
willing to let Agent Ben re-sign from preventing their ISOs and MLSs from
Joe's Pizza before Acme takes any
action. Naturally, very few agents soliciting into their portfolios.
in Albert's shoes would permit
the merchant to be re-signed.

Processors should all employ this confidentiality clauses. But you can ask the other agent if he or she can
common-sense service. It can board merchants who are already boarded with your processor. Knowing
reduce unnecessary attrition in another agent's position may be helpful in understanding your own.
MLS portfolios and build loyalty
among agents working for the Many ISOs and MLSs do not know whether they can re-sign merchants
processors. Ask your processors processing with their current processors. If you're in this camp, identifying
and ISOs to offer it to you. your parameters in this regard can help you plan better business strategies and
more effective methods of reducing attrition.
Some processors that allow their
agents and ISOs to solicit mer-
chants brought to them by other In publishing The Green Sheet, neither the author nor the publisher is engaged in rendering legal,
agents or ISOs will still require accounting or other professional services. If you require legal advice or other expert assistance,
you to give those ISOs and MLSs seek the services of a competent professional. For further information on this article, email Adam
a grace period – say 10 days – to Atlas, Attorney at Law, at atlas@adamatlas.com or call him at 514-842-0886.
save the account before you can
move it elsewhere. If you have
this duty, make sure to allow the
beneficiary of the grace period
the full 10 days, or whatever pe- Let Be Your EMV Expert!
riod applies, to have a good faith
chance to save the account.
Your EMV Eco-System Made Affordable!
6. Seek custom protection
eProcessing Network has the secure, payment solutions to help you stay current with the
Some processors may permit spe- technologies that keep your merchants connected. And with real-time EMV capabilities,
cific agents to be shielded from retailers can not only process contact and contactless payments, Apple Pay and Android Pay,
a general policy allowing their they’re able to manage their inventory as well as balance their books via QuickBooks Online.
agents to re-sign one another's
merchants. When negotiating an
MLS or ISO deal, ask whether the
processor will provide you pro-
tection from its other agents seek-
ing to re-sign your merchants. It's is EMV-Certified
one thing to lose a merchant. It's
another thing to lose a merchant
to a colleague who represents the
same processor as you.
7. Do a reality check

Once you believe you know your
rights regarding solicitation of
merchants already working with
your processor, meet with an
MLS with whom you are friendly
who also works for your proces-
sor. Discuss that individual's pol-
icy on the topic. Specific terms of 1(800) 296-4810
© eProcessing Network, LLC. All Rights Reserved.
the other agent's agreement and eProcessingNetwork.com All trademarks are the property of their respective holders.
yours are very likely subject to

41