o some extent, we live in a disposable society. Items that used to be worthy of significant investment, such as cameras and contact lenses, are now inexpensive and disposable. But the money savings comes at a price.

These items lack the durability, quality and longevity of their permanent counterparts. That's why we gravitate toward people and institutions that are capable of holding their value over time. The fact that they remain significant in an environment of constant evolution is a testament to their quality.

One such person with staying power is Sherry L. Friedrichsen, a 32-year veteran of the payments industry. Friedrichsen began her career straight out of high school and hasn't looked back since.

Working her way up ... and breaking ground

With the ink barely dry on her high school diploma, Friedrichsen was hired as a File Clerk at Bank of America Corp. (BofA), which was then BankAmericard. But she didn't last long in that position. Her potential was recognized immediately, and she was quickly promoted to Executive Secretary. Then, at the age of 19, she was hired as a Bankcard Service Representative for the bank.

"I visited merchants, adjusted imprinters, posted signage, etc.," Friedrichsen said. After a couple years she was promoted to Bankcard Sales Representative in 1978.

The landscape of the payments industry looked a lot different in the early 1970s than it does today. "When I started in the payments industry in 1971, Visa did not exist," Friedrichsen said. There was no duality. In other words, BankAmericard transactions could only be deposited at BofA banks, and MasterCard (then Master Charge) deposits could only be deposited at its five member banks.

"As a BankAmericard Representative for Bank of America, we would walk door to door signing up merchants to accept the BankAmericard," she said. "We used a one-page application and a one-page merchant agreement."

In 1976, when the banking regulations were changed and duality became a reality, again Friedrichsen would walk door to door, signing up merchants to deposit their MasterCard deposits with BofA.

"It was so much simpler back then," she said. She remained at BofA until 1985, moving up to hold the positions of Regional Bankcard Sales Manager, Technical Support Manager and National Accounts Sales Representative.

When she left the bank she became Senior Marketing Representative for Modular Data Inc. (MDI), one of the first electronic draft capture companies in the nation. "MDI supported a 'host' based program, and at that point in time, it was technology at its best," she said. "We've come a long way since then."

In 1989, after a two-year stint as Assistant Vice President, Sales Account Manager for Barclays Bank of California (now Wells Fargo), she went to work for General Credit Forms Inc. (GCF) where today she serves as Western Regional Sales Manager.

The real thing

After 32 years, what keeps Friedrichsen in the industry? It is constantly growing and evolving, and that appeals to her. "There's never a dull moment," she said. "Just when you think you have it down and understand the latest and greatest, new products and new technologies evolve, and it is a new learning process starting all over again."

To remain successful in an industry for more than three decades one must be authentic and Friedrichsen is. Her pride and honesty have helped make her a mainstay. She takes pride in the products and services that she sells and makes it a goal to provide each client with excellent customer service and honesty.

"Even with all my years' experience in this industry, I have never pretended to be a know it all, and my customers appreciate this," she said. "If I don't know an answer, I'm not afraid to say so. The key factor is to make sure you follow up and get back to your customer with an answer. Follow up is one factor that is so important and can easily be overlooked."

Friedrichsen's loyalty and dedication also play a part in her longevity. She knows that people don't last long at anything unless they treat others well. She believes that if you treat someone well, they will do the same in return.

"General Credit Forms is an excellent company to work for and has a unique philosophy that is not found in a lot of companies," she said. "At GCF, you not only sell that acquirer your products and services, but you also retain the relationship with the acquirer.

"This helps build the relationship and allows you to cross sell other products and services as they become available. You gain trust, confidence and can readily solve any issues that may come up in the relationship."

Treating people well is also the reason she has remained at GCF for 16 years. "I have had other job offers, but I just couldn't go into a business that would compete with General Credit Forms; they've been too good to me," she said.

Secret to success

It's evident that individuals don't last in any industry for 32 years without being good at what they do. Over the years Friedrichsen has acquired a massive amount of industry knowledge, and she credits her success to her on-the-job training and experience. This experience also helps her build relationships and keeps her customers happy.

"Because of my broad background in our industry, I get a lot of calls from existing customers asking for information on products/services that GCF does not support," she said. "Having these contacts and information in our industry enables me to point my customers in the right direction for the products and services to meet their requirements."

Leading by example

Friedrichsen's industry involvement doesn't stop at her paid positions. She is also an active volunteer with industry associations. She served as President of the Bankcard Association of Southern California (BASC) from 1998 to 2002. The membership was mainly small to medium-sized banks in the acquiring business.

The group met seven or eight times a year and focused on educating members about new products and services, and providing updates on chargebacks and presentations by Visa and MasterCard. In 2003 BASC's board voted to disband the group due to poor turnout at the meetings.

"With all the bank consolidations and outsourcing of the acquiring business to third-party processors, we just weren't getting the turnout for our meetings," Friedrichsen said. But soon after, several people approached her saying they would like to help start the Western States Acquirers' Association (WSAA). So, in January 2004, she and six others created WSAA, with Friedrichsen at the helm as President.

"We have had two meetings so far, and both of them have been a tremendous success," she said. "I am looking forward to a bigger and better meeting in 2006. We had just under 450 people at our second annual meeting in November."

While there are other industry associations, WSAA was created specifically for merchant level salespeople (MLSs). "The WSAA is more for the smaller ISOs and feet-on-street people, the MLSs," she said.

"The [Electronic Transactions Association] ETA is too expensive to attend and join for the smaller ISOs and MLSs. Our goal is to keep the individual sales agent informed of the industry and help them stay within the guidelines and represent their ISO or company so they are in compliance with regulations and laws."

WSAA aims to educate ISOs and MLSs on all existing products. That is why it does not allow presentations on emerging technologies. "We only allow presentations on products that are available today," she said. "MLSs can sit in on a presentation on a product and go out right then and sell it the same day."

Focusing on education

Being an active member of our industry through decades of change enables Friedrichsen to view events and trends with the benefit of years of experience. She has seen BankAmericard change to Visa, Master Charge morph into MasterCard, and the birth of Discover.

"Our industry is full of change as new technology becomes available, and that's what makes the acquiring industry so exciting," she said. As is evidenced by her active involvement, first in BASC and now WSAA, it is obvious Friedrichsen believes education is important.

"Education has such an important role in the acquiring industry, and you can never have too much," she said. In fact, she believes that ongoing education, keeping ISOs and MLSs educated on the products and technologies, is a major challenge facing our industry.

"We need constant training of sales agents to ensure that they are within compliance for the products and services they are presenting to the merchants," she said.

Friedrichsen also identified sales agent retention as a challenge for the industry, and one that could be solved by treating agents well and with respect.

"You've got to take care of agents, or they will continually look for other avenues if the employer is not responding to their needs, or the agents feel their needs are not being met," she said.

No exit plans in sight

Friedrichsen truly loves what she does. "I have found that if you do not enjoy what you do, it shows in your personality, your interaction with others, and it has a negative impact on your life," she said. "Life's too short to be unhappy."

And she will just keep going; she has no plans to exit the industry yet. "My goals are to continue to be active in our industry, build relationships, which in turn create sales opportunities, and continue to change to meet new demands in the marketplace," she said. "It seems I was born into this industry and will be in it until I retire."