Paul,
. . .Did you endorse ANB because, in your opinion, they have the best ISO program in the industry today? What would be your criteria?
If so, I would love to send you some additional information on our program.
In my opinion, a comprehensive ISO program is one with outstanding service (with a dedicated staff to sub-ISO business), quick turnaround time, and excellent pricing with lifetime residuals. In addition, the ISO be current with the latest P0S developments like Electronic Benefits Transfer. I know you are busy (as am I) but I appreciate the feedback.
Thanks,
Ryan O'Connor
Card Payment Systems
Ryan,
I look forward to anything you care to send about your program. As to your opinion on what it is that represents a comprehensive ISO program, I agree with your list. I will add, however, that the most important ingredients are ethics and staying power.
I have seen too many programs, which have the trappings of success and a great commission/residual plan, cease to exist due to poor management, or sell their base leaving the ISOs in a lurch.
As to my criteria, I know the program, but more importantly, I know the people.
Paul H. Green
Editor-In-Chief
To: greensheet@greensheet.com
I am a writer for the Las Vegas Business Press and I am trying to find out which states have the highest rate of bounced checks, or the highest dollar amount. Do you have any information or know where I can go to get it?
Thanks
Sherri
Sherri:
The states of California and Florida have the highest volume of returned checks per capita, and Nevada is in the teens. Although the number of returned checks is interesting, I find it more interesting to know the numbers paid. Today everyone in the industry knows that the majority of bad checks will be made good in a reasonable amount of time. Many people are shopping just ahead of their paychecks or seem to have a significant problem balancing their checkbook.
Please let us know if you would like a copy of the current Check Study. The prior year is on-line.
Paul H. Green
Editor-In-Chief
Dear Paul:
In the most recent edition of The Green Sheet there was a letter to you detailing how Discover has initiated a new "unofficial corporate policy" for their sales force. It went on to detail how the ISO was aced out of a sale by the Discover rep even though the ISO had given him the account.
Although this has never happened to our company and I am very fortunate to have an outstanding Discover rep, I do empathize with the ISO.
If it was not for the ISOs throughout the country giving the Discover reps new accounts, they would never make quota. I would also like to emphasize that Discover, unlike AMEX, pays $0.00 for giving them business. Most of the time when we submit an app. to Discover, it never gets done right and creates more work than it obviously is.
I was so moved by the writer's letter that I immediately called the V.P. of Sales for Discover and asked to speak to him. I was informed that he was in a meeting, and would I like to leave a message? I gave my name and number and informed his aide that I would no longer be setting up merchants to take Discover. If he would like to speak to me in more detail I would be happy to elaborate. Needless to say, I am still waiting.
I have been informed by some of the good Discover reps that the president of Discover is basically a bean counter and could not make it on the street if his life depended on it. Until he is gone, things will stay the same. I submit that we, as so-called "street people," should help him leave. All ISOs should, from this point on, refrain from selling Discover. When asked for it by the merchant it is a simple matter to give the merchant their 800# and let him do it. I am sure that my people will be just as good at convincing the merchant that Discover is not worth it as they are of telling him why AMEX is worth it, despite the fact that AMEX pays us to do so.
Name Withheld
Dear Anonymous,
Thanks for the comments. You will see your letter in an upcoming GS. Since you are a streetwise sales professional, have you considered sharing a "Tales of Sales Experience?" We pay $100.00 for stories.
Good Selling!
Paul H. Green
Editor In Chief
Dear Sir,
Do you plan to offer a means of submitting classified adds on-line at any time in the near future?
Respectfully yours,
Joe Salmon
Dear Joe,
Free Classified Ads are currently available at http:/the.greensheet.com. Click on "Free Classified Ads" on the left side of our front page, then click "Post" and fill in the blanks. Your ad will be posted within minutes and maintained for three months.
Good Selling!
Paul H. Green
Editor-in-Chief
Paul:
I understand that you don't accept insert type advertising and you're booked up for Green Sheet advertising until August 1998. I'm considering advertising in GSQ but I'd also like to know if you make your mailing list available for sale. This would certainly provide a valuable service to a lot of people, particularly since you place limits on the amount of advertising in each issue of The Green Sheet.
I have bought a list of industry names from a list service but it really isn't very deep in content and I'm sure you realize that many individuals active in this business are not registered and for all intents and purposes don't exist. What better way to reach them than through direct mail using a reliable list of names provided by a recognized industry expert?
Please thank Suzanne for the back issues she mailed to me after my recent move and let her know I will be in contact with her about advertising in GSQ. IF the name of the periodical is "Payment Systems Quarterly," why isn't it called "PSQ?" Am I correct in my understanding that I can reach anybody who accesses the free advertising on The Green Sheet On-line simply by placing a free ad? One last thing: may I have an access code for The Green Sheet On-line?
Thank,
Bob Joyce
Bob:
We are not selling our list at this time, however, the on-line ad is free to you. We have found that the paper and on-line versions of The Green Sheet have very different readers, and for now we are working to cultivate the on-line readership as well.
I will ask [our GS staff] to contact you with access code information. Perhaps you should let me know the information you are trying to get to The Green Sheet readership; it might make a good story for us.
Good Selling!
Paul H. Green
