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Insights and Expertise

Loyalty is a long-term strategy that can pay big
dividends. If you are sending the majority of your
business to one or two ISOs, this is a proven way to
build brand equity over time. When you have an issue,
these companies will know who you are and be more
likely to pick up the phone or respond when you need
assistance.

Employees know you and are aware that your deals
are profitable. Tech support will strive to keep your
merchants happy. Underwriters will be more likely to
approve your accounts.

Loyalty pays dividends
I recently asked a long-time partner to expedite a deal.
A client with a new store needed a terminal ASAP, and
the processor auto approved the merchant's electronic
application and shipped a terminal overnight for
Saturday delivery. The merchant was ecstatic. When
you are loyal, your ISO will move on a deal like that,
as long as you call in a favor when you really need one
and don't overplay it.

Bottom line: the best way to have a good processing
partner is to be a good partner. That means treating
your partner's staff with respect and speaking to them
nicely, no matter what kind of a day you're having.
People will do more when you say "please" and "thank
you."

Remember, these people are sitting in cubicles all day,
and yours is not the only call they are taking. Being
a good partner also means writing deals that are
profitable and being known as someone who is easy to
work with, who respects others and is loyal.

In the long game of merchant services, it may be
tempting to send deals to an ISO or processor with the
biggest sign-on bonus or most generous equipment
giveaway, but have you thought about the downsides
of this approach? When you approach a prospective
partner, instead of asking how much they'll pay to take
a chance on you or what kind of free equipment they're
offering, why not ask how they will support you and
your merchants at time of need?

Want to know more? Keep reading The Green Sheet and
consider joining my Facebook group, where we can
share ideas and support each other, at www.facebook.
com/nationwidepaymentsystems.

Allen Kopelman, a serial entrepreneur, is co-founder and CEO
of Nationwide Payment Systems Inc. and host of B2B Vault: The
Payment Technology podcast. Email him at allen@npsbank.com
nd connect on LinkedIn https://www.linkedin.com/in/allenkopel-
man/ and Twitter @AllenKopelman.

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