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Education

StreetSmarts SM

What makes a vendor your favorite?

By Natasa Cvijanovic by your vendors and equipment manufacturers can
Tesla Payments contribute to the longevity of your business.

any people are winter-weary when March A good product will elevate you to a valuable consultant
arrives, particularly if it comes in "like a for your merchants. But how do you select products and
lion," as the old saying goes. "Lion" seems to vendors to work with?
M fit this year as regions across the Northern The selection process
Hemisphere recover from extended bouts of harsh weath-
er. But you can do more than hope March goes out "like Other than deciding on a processor or an ISO to partner
a lamb." You can revitalize by focusing on yourself and with, one of the most challenging tasks for an aspiring
strengthening your relationships with family and friends, merchant services business owner is determining which
merchants, business partners, vendors, and so on. products to sell and build the business around. How can
merchant service providers attract merchants and generate
Throughout this writing journey, I have emphasized the a profit if they do not have the appropriate offering?
importance of developing strong and loyal relationships
with your merchants and partners. And in this issue, I've given some thought to a list of my favorite products
I'd like to discuss relationships with our vendors and and vendors that our company uses, and rather than
equipment manufacturers and how and why we choose simply listing them, I'll explain why our team likes, if not
them. loves our product offering.
I'm sure you have a list of your favorite products, vendors, All you need is love, according to The Beatles, and while
solutions, and so on, but what makes them your favorites? that may be true for a hopeless romantic, as much as I love
An essential relationship this industry and what I do, that hardly qualifies me as a
hopeless romantic. In this case, we will require more than
The relationship between a merchant and its merchant love.
services provider is probably the most important Business building tools
relationship a business will have. All businesses must
process payments, and a good merchant services provider The decision to market and sell a product or service is
will offer a wide range of products and services that a based on whether or not it will help potential and existing
business can use. merchants solve a problem. So, when I think about smart
credit card terminals, software, POS systems, gateways,
Running a successful merchant services company requires and other products and services our company sells, I
a lot of work. In addition to the rising expectations of know they'll help us be advocates for our customers and
both merchants and cardholders, the already saturated help them grow their businesses because they meet the
market is another challenge merchant service providers above criteria.
face. However, innovative products and services offered
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