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Insights and Expertise
ChapterTitle
StreetSmarts SM

Best-selling business strategies – Part 1:

In-person selling

By Allen Kopelman used to be processor-agnostic are now proprietary POS
Nationwide Payment Systems Inc. platforms. Cloud-based systems, when acquired by larger
ISOs or ISVs, are simply pointed to a different processor
emember the early days of merchant services, through a payment gateway, leaving the original ISO and
when merchant level salespeople (MLSs) con- MLS behind.
vinced customers to stop taking paper receipts True cost of free
R to the bank? And then, after convincing mer-
chants that paper was bad and electronic authorizations Merchants don't always understand that free terminals
were good, we'd whip out a giant paper contract with and integrated solutions are only free while they are using
white, yellow, light green and pink copies and tell them the service. A merchant who is no longer processing with
to press down hard. It's a wonder that anyone listened to us called me the other day, wanting to know why he is
us in those days. still getting billed for the equipment. I had to explain that
the equipment was free for as long as he processed with
Even MLSs who are new to this business have seen plenty us and needed to be returned.
of changes, but fundamental selling basics have stood
the test of time. If you're serious about building a book of MLSs don't always understand that it takes more than a
business, you need to balance time-honored conventions shiny brick or virtual POS terminal to attract merchant
of selling with cutting-edge technology. customers and sales channel partners these days. The
game has changed. We can no longer hit three buttons
This four-part series will explore how the business is and reprogram a terminal. The days of selling simple
changing and how we can keep our competitive edge. equipment and applications are over. ISOs and MLSs need
Part 1 will explore in-person selling; Part 2 will deal with to reach a younger demographic by marketing holistic
having an online presence. Parts 3 and 4 will examine solutions that are customized for different businesses and
new approaches to selling, including new value-added industries.
solutions that can help create stickiness in your merchant
relationships. Stepping out
Adapt or fade away News flash: the pandemic is over; stop hiding behind a
screen. Merchant services is a relationship business, and
In this tech-driven space, our biggest competitors are there is no substitute for getting into the community,
no longer each other, but Square, Stripe, PayPal, Intuit meeting people and networking with fellow business
or basically any company that offers a platform where professionals. Here are some examples of in-person
merchants can sign up online and immediately begin to activities that can boost your credibility and sales ratio:
accept credit cards. These platforms are a real and present
danger and growing in number. • Door-to-door selling: Contrary to popular belief,
door-to-door selling is still happening, particularly
In this climate, what you did 20 years ago and even in suburban areas, resort towns that cater to tourists,
five years ago will not work. MLSs are finding out that and established communities that small businesses
merchants are locked into solutions. A lot of systems that have served for decades. Business owners in these
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