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States," Nern said. "We grew the two brands by putting our Another consideration when
partners first, through SignaPay services, PayLo products
and investing in our partnerships." retiring a long-held company

When to walk away name is allowing enough time for
Another consideration when retiring a long-held company partners, clients and staff to get used
name is allowing enough time for partners, clients and to the new company name.
staff to get used to the new company name. Old habits,
and even how we introduce ourselves or answer a phone,
can be hard to break, Secure Bancard's Smith noted. Just will need to drop "XYZ Company" entirely after giving
ask any business development specialist who has worked everyone enough time to get used to the new name, she
at a firm for a few weeks or a few years and mistakenly advised
utters a competitor's name in the middle of a sales call—
timing is everything, and transitions can get awkward "Also, we should be mindful that mergers and acquisitions
very quickly, she added. are usually a downside to the clients who get caught up
in them," Smith said. "An acquisition typically comes with
"Changing a name requires commitment to the transition," changes that clients aren't excited about." Make sure they
Smith said. "There will be a period of time when you will know that your name change is part of a rebrand, not the
have to refer to 'ABC Company,' previously known as 'XYZ result of a merger or acquisition; this will help keep your
Company,' to ensure that you don't lose the following new name in a positive light, she added.
you've worked so hard to obtain."
Dale S. Laszig, senior staff writer at The Green Sheet and managing
At some point, you'll have to let go of "formerly known director at DSL Direct LLC, is a payments industry journalist and content
as," Smith pointed out. Decide when you and your staff strategist. Connect via email dale@dsldirectllc.com, LinkedIn www.
will eliminate explanations and disclosures; in time, you linkedin.com/in/dalelaszig/ and Twitter @DSLdirect.