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Education

Who moved the If you've seen a dip in your merchant services residuals,
maybe it's time to evaluate your customers' spend and see
residual cheese? where the money is going. If you're not accepting multiple
forms of payments and currencies, there's a good chance
you're losing residual income streams to alternative pay-
ments. If this is the case, you may want to consider adding
digital wallets, cryptocurrency and other emerging pay-
ment forms to your products and services.

Many of today's advanced digital commerce solutions do
more than just process payments; they can also help ISOs
and merchant level salespeople (MLSs) assess customer
payment flows, spending patterns and residual income
earnings across their merchant portfolios. This data can
show trending activities and trigger alerts when urgent
matters require immediate attention.

Additional diagnostic tools can be found in the merchant
By Allen Kopelman portals that most processors and ISOs offer that enable
Nationwide Payment Systems MLSs to track their merchant portfolio activities in real
time. These portals provide a single-access view of all the
f you're not accepting multiple forms of payments accounts you've signed under a processor or ISO and their
and currencies, there's a good chance you're losing related activities. Why not leverage this tool by routinely
residual income streams to alternative payments. checking in and running reports to chart your growth and
I Merchants are accepting all types of payments, and if identify areas in need of improvement?
digital wallets, cryptocurrencies and other emerging meth-
ods are off your grid, it's going to hurt your bottom line. Who moved my cheese?
As someone who's been in payments for more than 20
years, I remember when processing systems were low-tech
and back-office systems were paper-based. In my early
days of selling, before portals were even a thing, we had
to create our own spreadsheets to track our merchant ac-
count activities and residual income streams.

I recall when I first saw a high-speed check scanner in
2001, at a meeting in Baltimore, Maryland. The machine
The ‘P’ Android could scan a check and transfer funds directly to a pro-
Terminal Line cessing host for deposit. That was pretty cool tech for that
time. We sold a ton of those machines and rode that wave
P1 Desktop
for a while.
P3 Handheld Wireless
P5 Handheld PIN Pad One thing stood out about that meeting: the person teach-
Wireless ing the class gave everyone the book Who Moved My cheese?
by Spencer Johnson and Kenneth Blanchard, a business
bestseller. The book describes four characters who run
through a maze looking for cheese. The characters willing
< P3 terminal
shown here to embrace change have a better outcome than others who
are stuck in their old ways of doing things. I can see why
the book was a hit with so many readers; change is a con-
stant in any business, and as new opportunities replace
old ones, there's always new cheese to find.
Post-pandemic takeaways

The pandemic accelerated a new wave of chang-
es in the payments industry, especially in the res-
T: 1-877-358-6797 taurant industry, which continues to deal with la-
bor shortages, obsolete technology and shrink-
E: sales@dejavoosystems.com
ipossystems.com ing profit margins after a lengthy shutdown period.

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