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Education

Then, unfortunately, the plague of our generation arrived: check and wire. Saving a company a penny or two on a
COVID-19. The ships that had been sailing smoothly up B2B transaction when they already think 2.5 to 3 percent is
to that point took on water. Businesses closed, leases too much will lead to credit being suppressed as a form of
lapsed, transaction counts fell and residuals plummeted. payment. Price is not a value lever, and if you are relying
The abundant opportunity ground to a halt; the game had on Level III to save the day, think again.
shifted. The new challenge is in the business-to-business
(B2B) sphere. Landing and servicing B2B accounts requires a different
approach, which in turn requires the ISO to take a
Unlike B2C, B2B has been less affected from a payment's drastically different path. It requires the ISO to realize
perspective. Also, by some accounts, it is a $10 trillion something the pilot has known for a long time: training is
opportunity, with only 8 percent of B2B payment's the shortest path to success.
currently on plastic. That in itself represents an amazing
opportunity for the ISO community. Speeding to capture This may be a hard pill to swallow for many ISOs; you
this market are a host of fintech companies that, essentially, are a fiercely independent group. The key will be to
are positioning themselves as the new payment terminal avoid insanity, you know: doing the same thing over and
providers with software to digitize companies' B2B over again and expecting a different result. There are
payments. alternatives that can bring you in for a smooth landing
because, just like pilots, nobody in this business wants to
Training for success crash and burn.
With as many as 30.2 million small businesses in the
United States, the opportunity to sell in this space has Roger McNamara, president, Guide2Interchange, LLC, is a 25+-year
never been greater. Yet it comes with some perils. Selling veteran of the payments industry, most recently as the director of busi-
into the B2B space with the tried and trusted techniques ness development with American Express in the United States. He has
used in the B2C world will meet with failure and wasted sold more than $200 billion worth of card processing and now leads
effort. Why? Because credit payments are considered the a B2B merchant sales training organization. Contact him by email at
costliest of all payment types when compared with ACH, Guide2Interchange@gmail.com or by phone at 561-379-3151.

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