Page 19 - GS230702

Views

they created a story about mice in a maze to illustrate an I agree with others who called this practice dirty and puts
effective strategy for dealing with it and to show that in a merchant services in the same class as payday lenders and
rapidly changing world or industry, it's your attitude that credit repair service providers. This not only makes us
matters most. look bad, it makes us look like a bunch of scammers.

Johnson describes the book as a simple parable for dealing In an industry that prides itself on self-regulation, let's
with change, with cheese as a metaphor for whatever you take this behind the barn and shoot it before the regulators
want in life or in business; the maze is where you look for take it off our hands. It's no wonder why merchants run
it. "In the story, the characters are faced with unexpected to PayPal, Square, Stripe, Toast and others: at least these
change," he wrote in the introduction. "Eventually, one of companies offer transparent pricing.
them deals with it successfully, and writes what he learns
from his experience on the Maze walls." Let's focus on selling value and service and give business
owners the best possible pricing. Remember, if you can,
When you see the handwriting on the wall, he added, why you got into this business, and let's get back to basics
you can discover for yourself how to deal with change so before it's too late.
you can overcome your fears and see change as a way of
gaining something better.
Allen Kopelman, a serial entrepreneur is co-founder and CEO of
Overcome fear of selling Nationwide Payment Systems Inc. and host of B2B Vault: The Payment
Technology podcast. Email him at allen@npsbank.com and connect on
Looks like the race to the bottom is now hitting historic LinkedIn https://www.linkedin.com/in/allenkopelman/ and Twitter @
new lows. I want to thank the payments industry leaders AllenKopelman.
for sharing perspectives on this disturbing new trend. To
Rice's point, any merchant level salespeople who are giving
away residuals aren't selling. They're paying merchants to
help them meet their quotas.

19