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Insights and Expertise

I posed that question recently in a
panel discussion at the Southeast In today’s world of selling merchant services, the
Acquirers Association conference,
following a discussion about partner- internet, not other MLSs, is our biggest competitor.
ships. As independent sales profes-
sionals, we need to join forces and
solve this issue. And we need to do attrition rates in our industry's history. If you don't keep your name in front of
it soon because our industry is con- your merchants, a competitor will replace you.”
solidating. Some processor-agnostic
partner companies are changing their The Green Sheet described Beauchamp, who passed away on June 16, 2024, as a
stripes (pun intended) as they acquire long-time partner and dedicated advocate for MLSs. He will be remembered
processors or become acquired by for giving back to the industry he loved, the editors wrote, and for “supporting
processors. and mentoring sales professionals navigating the always changing payments
sphere.”
Beauchamp used to say our biggest
competitor is the one we see in the Through the years, Marc Beauchamp made a positive difference in so many
mirror. Don’t compare yourself to careers and lives. I agree with The Green Sheet that his shoes are way too big
others and focus on what you do best, for any one person to fill. Which brings me back to the question of how I’d
he would say. As a former Marine, he like to be remembered. Going forward, remember me as someone who cares
liked the idea that we are warriors deeply about my family, friends and industry, and one of many who strive to
in our profession, fighting the good perpetuate this great man’s legacy.
fight for our companies and families.
Allen Kopelman, a serial entrepreneur, is co-founder and CEO of Nationwide Payment Systems
He also encouraged MLSs to focus on Inc. and host of B2B Vault: The Payment Technology podcast. Email him at allen@npsbank.
priorities and avoid being spread too com nd connect on LinkedIn https://www.linkedin.com/in/allenkopelman/ and Twitter @
thin. For inspiration, visit the website,
Bankcard Life: The Premier Commu- AllenKopelman.
nity for Payment Professionals, and
watch his Monday motivational vid-
eos on YouTube and Instagram.

As MLSs contend with a variety of
competitors, it’s worth noting that
merchant services is first and fore-
most a relationship business, as
Beauchamp reminded us in his Feb. PAYMENT FORM GENERATOR
22, 2021, Street Smarts column, “Re-
lationships – the key to your success.”
Lasting legacy EASY TO USE:

Noting that most merchants change
processors due to lack of attention, We Host Page
Beauchamp advised MLSs to focus
equally on retention and acquisition. Pay Link
I totally agree, and as I’ve said before,
this is an area where MLSs can out- Embed Code
perform big tech companies through
local services and credible relation-
ship marketing programs. Inventory

“With well-planned relationship Level Ill
marketing, you can improve reten-
ACH
tion, and that will impact the bottom ACH
line,” Beauchamp wrote. “According
to customer relationship manage-
ment experts, companies can increase C A L L F O R T R A I N I N G
revenue by 50 percent if they retain
only 5 percent more of their custom- 8 0 0 - 2 9 6 - 4 8 1 0
ers. We are facing some of the highest