The Green Sheet Online Edition

October 28, 2024 • Issue 24:10:02

Inspiration

Supporting merchants hit by Helene and Milton

When hurricanes like Helene and Milton strike, they can leave some businesses irreparably harmed and others struggling to stay afloat. You, as ISOs and merchant level salespeople (MLSs), can play a pivotal role in helping retailers and other payment-acceptance businesses remain viable despite the challenges brought on by these extreme weather events.

Here are some things you can do:

1. Prioritize fast restoration of payment services: One of the first ways you can assist is by quickly helping merchants restore payment systems. Businesses hit by hurricanes and other extreme weather events may face power outages, internet disruptions or damaged equipment. Providing fast troubleshooting, temporary payment solutions like mobile terminals, or backup processing systems can enable merchants to resume accepting payments, which is critical for their recovery.
2. Extend financial flexibility and relief: Many businesses affected by hurricanes may face cash flow issues. You can work with them to offer flexible payment terms, defer equipment lease payments or adjust repayment schedules on merchant loans or advances. Offering relief through waived fees or temporarily lowering processing rates can further ease financial pressure.
3. Help secure disaster assistance: You may also be able to guide merchants through applying for disaster assistance programs, such as FEMA or SBA loans, or direct them to local resources. By providing this information at a time when they will likely be overwhelmed, you will help merchants access the funds and aid they need to rebuild their operations.
4. Strengthen communication and support: Hurricane-hit merchants need timely, reliable communication. Setting up dedicated support hotlines and ensuring prompt responses to inquiries can provide much-needed reassurance. In addition, offering multilingual assistance can be crucial for diverse communities affected by the storm.

Taking actions such as these will demonstrate your caring at a time of almost unfathomable need and could make the difference between merchants rallying to welcome their customers once again or succumbing to the weight of their losses.

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.