erchant level salespeople (MLSs) hold a unique position in the vast world of payments, spanning card associations, issuing banks, terminal manufacturers, processors and settlement banks. But by definition, all along the chain, MLSs have the most contact with merchants.

MLSs connect merchants and acquirers through a complicated web of interchange, discount rates, spreads and chargebacks for the purpose of giving consumers peace of mind as they shop. This position sometimes requires striking a delicate balance between two opposing goals: a flair for winning business and an ability to manage risk.

Many ISOs/MLSs go through this industry with a 'buy and fly' mentality: Get in, get out and watch for the land mines. But, as Bob Dylan so eloquently put it, "The times they are a-changin'." To succeed in the rapidly evolving world of payments, MLSs should adopt a 'buy and build' approach to business.

The first step in this philosophy is to earn a merchant's business by presenting a valuable variety of services; the second is to build a solid merchant portfolio by profitably managing the business with long-term growth objectives.

The front lines are never safe, but knowing that you have the backing of an army of resources and skills makes it easier to advance with a sure step, always looking forward. Let's look at the criteria necessary to build a strong acquirer-partnership relationship.

The Formula for Success

The one-size-fits-all solution for merchant card acceptance no longer exists. A winning formula requires an understanding of a merchant's business and the ability to present a payment solution that best fits a particular business need.

ISOs/MLSs need to offer services designed to meet the needs of all types and mixtures of retail commerce-from POS to MOTO and Internet. Credit cards alone rarely cut it these days; savvy merchants demand value-added payment services, such as online debit, electronic gift cards and electronic check conversion.

In order to succeed, ISOs/MLSs must partner with the right acquirer and employ processes to get their merchants up and running quickly, ensure that they remain customers for the long haul and yield profits. A strong acquirer-partner must offer a full range of flexible services to support these goals and help ISOs/MLSs achieve success.

Stability

Many acquirers pay lip service to ISOs/MLSs, promising a lot up front-but delivering far short of expectations. An acquirer-partner provides dedicated service on everything from proposals to pricing to training and support. If you want to grow merchant relationships built on trust, choose an acquirer that will honor all contracts (and get it in writing!).

In this era of Enron-itis, it's important to make sure you're doing business with a company that is financially secure and diverse enough to withstand the shifts in bank business lines, while not taking its eyes off the business of managing risk.

Flexibility

Getting a merchant set up quickly and easily is the necessary first step to building a reputable business; the sooner your merchants are processing, the sooner you'll be earning money. Make sure that the acquirer you choose has a dedicated underwriting team designed to meet the specific needs of ISOs/MLSs. A confident and reputable acquirer employs an open door policy and welcomes merchants from all types of business.

Make sure the acquirer offers tools like online applications to streamline the boarding process; verify that it offers a variety of 'on ramps' to processing including equipment, software, value-added applications, VAR interfaces and e-commerce solutions. New businesses open daily; ISOs/MLSs should partner with acquirers that are adept at scoring and managing risk instead of hiding behind generalized 'one-size-fits-all' rules.

Serviceability

A strong acquirer-partner understands that there is no one-size-fits-all formula for providing customer service to ISOs/MLSs or merchants. To be successful, it is important to partner with an acquirer that provides a dedicated ISO/MLS support center, as well as multiple ISOs/MLSs and merchant resources for reporting, account approval status and marketing materials.

If you've ever felt that you can't reach anyone at your current acquirer interested in servicing your business, it's time to find a more responsive processing partner.

Profitability

The final cornerstone of a successful ISO/MLS acquirer relationship is that of profitability. Let's face it: Merchant processing is not a non-profit business and is full of opportunities to succeed financially.

The true acquirer-partner will extend flexibility in pricing models to ISOs/MLSs. Forget about tricky wording in buy-rate programs or split programs-partner with an acquirer offering pricing plans based on pass-through interchange to allow you to take advantage of fluctuations in the market.

Again, you know your business, you know your portfolio and you should have the ability to structure pricing programs to meet your goals. A good acquirer-partner gives ISOs/MLSs the opportunity to share in the profits and the flexibility to adapt pricing structures in a very competitive market.

At the end of the day, success in merchant account sales is determined by the way ISOs/MLSs manage and serve their customers. It's essential to align with an acquirer that looks to you as a partner. Read the fine print, test the customer service centers and make sure you build a relationship on trust. 'Buy and build' is the path to a more profitable portfolio.

Michelle Graff is Vice President of Marketing for NOVA Information Systems. e-mail her at michelle.graff@novainfo.com