Page 36 - GS180401
P. 36
Education
The retiring parent might want to continue earning a
residual from the business he or she built. The son or
daughter who takes over may be ambitious and want to
grow the business by taking calculated risks – such as
working with new creditors or partners. These important
transitions should be planned and papered in advance
to avoid conflict and surprises. In addition, processors
want to know the principals of an ISO – and will deny
sponsorship to an ISO whose leadership has inadequate
credit or other blemishes.
Death
An ISO business is too complicated to succeed in the
Industry Show: hands of an untrained person. Consequently, a family ISO
NACHA business needs to groom a successor ‒ whether within the
PAYMENTS 2018 family or not – well in advance. The ISO marketplace is
Highlights: This unique conference experience so competitive, and it is so easy to lose the loyalty of staff
or agents, that ISOs need to plan for a robust and stable
encapsulates the players and thought-leadership transition from one leader to another.
that are setting the agenda for the future, and
propels industry dialogue forward to ensure the A sponsoring processor will also be concerned if it has to
continued strength and integrity of the ACH support an ISO that is run by heirs who do not understand
Network and the U.S. payments ecosystem, and the business. It's a shame to see an ISO business built up
their responsiveness to the customer. A lively and over many years – but not yet monetized – lost on account
interactive expo show floor featuring PAYMENTS of a failed succession plan. If there is no likely successor,
Innovation Hub, a totally unique knowledge it might be best to sell the business before the operator is
sharing platform. Incomparable networking too old to run it.
opportunities tailored especially for executives
and senior-level payments professionals from all Again, with wills and estates, some coordination might
macro environments including mobile, retail, and be necessary between your succession lawyer (who assists
technology with wills), corporate lawyer and payments industry
When: April 29 - May 2, 2018 lawyer, so that the desired outcomes are achieved.
Where: San Diego Convention Center, Ca
Registration: https://payments.nacha.org/register Incidentally, our firm (www.adamatlas.com) provides free
legal advice to ISO widows and widowers as a form of
community service. We are not often called upon in that
Next Up and Coming Industry Show: capacity, but from time to time we have assisted widows
selling ISO residuals to make the most of the legacy of
Card Not Present their family's ISO business.
Planning in advance
CNP EXPO 2018
Highlights: The CNP Expo is the fastest growing Most family ISOs we have observed over the years have
event in the world at the intersection of security, been successful in navigating the various legal issues
e-commerce, software, mobile, retail and pay- related to ISO ownership and the big events in family life.
ments. It’s a meeting place for our community of However, some have not done so well. For that reason, it
merchants, banks, processors, anti-fraud software is wise to plan for life's great and not so great events in
providers, legal experts, alternative payment advance to preserve the equity in the ISO business you are
providers, card networks and others to learn how building. Processors, investors and non-family business
to leverage CNP payments in an increasingly partners will appreciate this planning even if it is never
multi-channel retail sales environment. And, to put to the test.
form the partnerships this environment requires.
When: May 14 - 17, 2018 In publishing The Green Sheet, neither the author nor the publisher is
Where: Rosen Shingle Creek 9939 Universal Bou- engaged in rendering legal, accounting or other professional services. If
levard Orlando, FL you require legal advice or other expert assistance, seek the services of
Registration: www.cnpexpo.com a competent professional. For further information on this article, email
Adam Atlas, Attorney at Law, at atlas@adamatlas.com or call him at
514-842-0886.
36
