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Insights and Expertise
StreetSmarts SM
My Street Smarts medley
By Allen Kopelman help create stickiness and long-term customer rela-
Nationwide Payment Systems Inc. tionships. Sell services and solutions that make it
harder for businesses to switch or want to switch.
The Load-Out," written and sung by Jackson Clients who enroll in multiple services are less like-
Browne, is how I feel at the end of my Street ly to leave. Examples include ATMs; POS technol-
Smarts year. "When that last guitar's been ogy; chargeback management tools; gift, rewards
SM
" packed away, you know that I still want to play." I and loyalty programs; and alternative finance solu-
thank The Green Sheet and its generous readers for giving tions – if the offerings really add value to the busi-
me that chance. It's truly an honor to play on. ness.
We've covered so much in these past 23 columns, from • Networking: Regional conferences provide MLSs
"blowing up the internet" to finding common ground as with opportunities to meet new and existing ven-
dors and fellow salespeople and to learn about our
partners, service providers, fellow payment professionals
and friends. Through epic disruptions, card brand rule business. Each show has its own distinct regional
flavor and attracts a growing cohort of payments
changes, policymaking, security mandates and technol-
ogy, we've explored the following themes: industry specialists, vendors, keynote speakers and
salespeople. My partner Dave and I have attended
• Navigating the digital world: Electronic invoic- every SEAA conference since its inception and gain
ing, digital payments acceptance and B2B customer new insights at every show.
portals are examples of consumer trends that have
morphed into our work lives. Behaviors that began • Remembering Marc Beauchamp: I thought about
Marc Beauchamp when I found his book, Survive
in mobile dating apps, like ghosting, fizzling, and
breadcrumbing, are also finding their way into and Thrive III in my bookcase. The payments leader
and Street SmartsSM columnist was attracted to
professional relationships. As payments become in-
creasingly embedded into vertical solutions, can we bankcard life's independent lifestyle and limitless
income potential and mentored and inspired oth-
correctly assume that software is the new ISO?
ers in our industry, including me. Going forward,
• Partnering: Payments has always been a relation- remember me as someone who strives to perpetuate
ship business, and partnership choices are key to this great man's legacy.
our success. It makes sense to consult with an at- • Protecting residuals: When one's income is based
torney before entering into an agreement. When
negotiating a new contract, make sure that your on tiny little splits from millions of transactions,
what could possibly go wrong? MLSs need more
agreement stipulates that you will continue to earn
residual income if the company is acquired. Part- than a handshake or email to protect their residual
streams. They need, at minimum, an airtight con-
ners with clearly defined objectives and roles can
help you win. tract with professional assurance that its terms and
conditions are in their best interest. In addition to
• Adding value: Selling value-added services can having a good attorney, routinely reviewing residu-
al reports is worth the time and effort.
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