Merchant Sales Podcast

In a recent poll conducted in the CCSalesPro Community with individual agents, we found that 48% of agents are leading with Dual Pricing and only 33% with Non-Cash Adjustment / Service Fee programs. The remaining agents are leading with true Cash Discounting (14%) and Compliant Surcharging (5%). Learn why the trend is towards Dual Pricing. Learn why companies like our sponsor, North American Bancard, are seeing a significant improvement in merchant and agent experience with these programs. Learn more about North American Bancard and their "Edge" program for Dual Pricing by visiting https://www.gonab.com

This week we speak to one of the founders of OnDeck to learn why he launched a new company, "Lending Front." This company is bringing mainstream lending to merchants through partnerships with payments companies and banks. This is the future of small business lending. Then, James speaks to a brand new field agent who is struggling to walk into businesses, and Patti provides compelling data on ISVs and payments integration.

How well do you understand merchant statements? Learn the ins and outs in this edition of the merchant sales insight. We dive into topics like issuing banks that charge interchange, interchange padding and optimization, card brand fees and processor fees. If you want to become an expert at reading merchant statements, this is a great place to start! Make sure you visit https://www.getisoamp.com to learn more about the sponsor of this edition. ISO Amp is the leader in full service statement analysis.

Tune in this week and learn how Josh Beneditti is building a modern payments company, Card Z3N. "We offer technology with a human touch," Josh explains. James follows that up with insights on raising capital, and Patti closes out the podcast with a report on growing fraud threats.

In this edition of the Merchant Sales Insight, I explain what a vertical specific software company is and what they are looking for from a payment processor. We discuss how to identify a good software company prospect and help you better understand their challenges and needs. This edition is sponsored by Tilled.

In this episode... We talk with Yonas Marcos, CEO at Star Financial, about the ATM business. We explain why ATMs have become more popular through the rise of cash discounting and now dual pricing. We also discuss non-compliant ATM systems, such as the Cashless ATMs being used by Cannabis Dispensaries, and how Visa is cracking down. Then, I discuss some powerful external threats to the ISO / Agent model. And Patti talks about how the Durbin Amendment is finally being fully implemented with competitors to Visa and Mastercard with debit routing.

Let's face it, the merchant services industry spends way too much money on recruiting and far too little on training. The secret to both recruiting and activating reps is training. Learn the 3 step process that I used in my own ISO and what dozens of consulting clients have used to dramatically reduce the cost per recruiting lead while simultaneously increasing the agent activation rate.

In this episode... We interview Sebastian Builes, CEO at Arcum Partners. We discuss how they have created a technology platform that identifies at-risk merchant accounts before they cancel. Thus, ISOs and other payments companies can dramatically reduce the cost of attrition. James talks to an agent about building a business funding solution alongside payment processing. Then Patti closes out the episode with a discussion about card tokenization and some stats from Visa on this technology.

In this edition, we focus on the challenge of selling larger volume merchant accounts. I get very specific with tips on how to find data on these local merchants and how to connect with the right decision makers. I asked Dustin Magaziner of Paybright to sponsor this edition as part of the, "No Merchant Left Behind" series. I love what Paybright is doing to ensure that agents don't lose profitable deals because they are too large, too small or need too much free equipment, so definitely check out what they are doing.

Whether you are an individual agent or the CEO of an ISO or ISV, our interview this week will help you overcome your barriers to growth. OB Rawls has a long track record of success in the payments space and currently spends his time helping payments and technology companies scale up. Then, Patti and James talk about credit card routing and debate pending legislation and regulation that could impact our industry.

Most Americans still want to carry some cash and they get this cash from ATM machines. Yonas Marcus, the CEO at Star Financial tells us that he is seeing a surge in ATM placements at businesses like Restaurants that are implementing Dual Pricing. Consumer behavior remains the same, but the business enjoys presenting an alternative to card payments and they make a little money as patrons grab some cash on the way in or out.

Learn how Lavu helps ISOs and agents deliver easy-to-use, customizable, iPad-enabled POS solutions to specialty food service merchants. Think bars, drive throughs and pizza shops. "We can scale up or scale down," Lavu CEO Saleem Khatri, explains in this week's featured interview. Then James shares results of an informal survey of pricing practices. Spoiler alert: dual pricing is gaining. And Patti reports on another government investigation of Visa and Mastercard.

There are many large companies with a national footprint that are paying much more than they should for payment processing. Why are they willing to pay such high fees? Because they value a smooth integration with their custom software to create seamless experiences for the end user. Learn about the basics of APIs and how you can target these merchants with solutions like our sponsor NMI.com

In this week's episode, long time industry professional, Kristin McWilliams, explains the inner workings of the payments industry in a practical way. She answers questions like, "Should your ISO become a Payfac?", "Should you register?", "What is a wholesale ISO?" And many more. Then, James talks about taking sales seriously, and Patti gives us an update on Zelle and the fraud issues they are experiencing.

In this edition of the Merchant Sales Insight, I follow up on my recent live event, and new training program with Lavu to break down the core competitive advantages enjoyed by Toast for the last few years and how agents / ISOs should compete with this solution. I also lay out a framework for competing with other Payfac / ISV companies using the agent channel. Lavu is the sponsor of this weeks edition and I would encourage you to check out my new training program on selling restaurant point of sale systems. Learn more by visiting https://www.ccsalespro.com/lavu Watch a replay of my live event here: https://youtu.be/Hf4voPDXs5Y

In this episode we discuss Crypto Acceptance with Abdullah Tharoo of Pay Koncept, a company that has pioneered Crypto Acceptance for more mainstream merchant types such as Jewelers. Then, James talks about the future of payment processing as it relates to alternate forms of payment. How should you be adjusting your strategy for ACH (Fed Now), P2P (Venmo and Zelle) as well as new forms of value exchange such as Crypto. If you want to think about the future of payment acceptance, this is a must listen episode.

In this edition of the Merchant Sales Insight, I partnered with retailcloud to discuss the importance of in-store pick up and how this tactic can be used by smaller retailers to compete with their larger competition such as Amazon.

While the recent attempt by Senator Durbin to attach this regulation as an amendment to a defense spending bill has failed, he still seems determined to further regulated Visa and Mastercard by requiring the creation of competitive networks and giving them a fighting chance. What does this mean for our industry? This is our topic on the Merchant Sales Podcast today. James Shepherd starts out the episode with a quick tutorial on Interchange, Issuing Banks and Acquiring banks and then he is joined by attorney James Huber to discuss how the Credit Card Competition act seeks to disrupt the payments ecosystem.

What does the ISO of the future look like? If an ISO wants to grow over the next 3 to 5 years, I believe they need a true partnership with technology companies. I am not talking about doing a quick payments integration and telling their sales team that a new POS is available. I am talking about making a capital investment in a technology company, playing a key role in designing the payments experience and then shifting the focus of the organization to this new partnership. In this edition of the merchant sales insight, I provide a two step process to turn your ISO into a technology player. I partnered with NMI on this edition. They are, in my opinion, the perfect partner for the ISO that is looking to bring their organization together with technology providers while keeping the payment processing in-house.

This week James and Patti speak with Elaina Smith, CFO at Secure Bancard, about how the Durbin Amendment changed the debit card market and how Sen. Durbin has offered similar legislation targeting the credit card market. James offers some insights on what, if any, impacts ISOs and agents can expect if Sen. Durbin's proposal is passed, and Patti has an overview of the legislation itself.

Several months ago, I sent an email about the Employee Retention Tax Credit. I explained how to get even a small business $100,000+ in free money from the IRS. A few dozen referral partners signed up with a company I know and trust. They offered their business contacts a proven solution to maximize their ERC funding, while generating a referral commission. Since that time, I have seen many deals approved. Now I believe it is time for our industry, as a whole, to go on a mission and spread the word to our business contacts! I've seen businesses with ten employees get $100K+ in free money from the IRS. And the referral partner is cashing a $3,000+ commission check, just for making the introduction.

Discover how Metro Payment Technologies has been growing its merchant portfolio through networking and referral partnerships. Follow-up is crucial, Joan Winnington, Director of Operations and Marketing at Metro, explains in this week's featured interview. Then James offers steps to successful networking. Plus, Patti reports on regulatory rumblings around BNPL.

How well do you understand the risks inherent in the payment processing space? In this week's edition, I partnered with Maverick Payments to take a deep dive into this topic. You will learn the three sources of risk, the three risk multipliers and the keys to choosing the right high risk provider. I really enjoyed writing this one, I hope you enjoy it!

Caleb Avery, Founder & CEO of Tilled, is passionate about software-led payments. That passion shines through in this week's featured interview, where he discusses Tilled's just-announced partnership with Aevi, and how it creates a true omnichannel approach to Tilled's PayFac-as-a-Service solution. James follows with his response to a question from the field on branding, and Patti reports on the blowback over plans for an MCC code for gun shops.

"Selling on Value" is the big buzz word in merchant services, but many agents and ISOs still struggle to take the first steps in that direction. Today, I am presenting the easiest possible value sell for a merchant services professional. I would like to thank Valor Paytech for working with me on this one. We discuss their "Engage my Customer" feature and how to roll it into your Dual Pricing presentation.

Discover how Reliable Payments is building a book of business through a network of referral relationships. "Above all else you need to be there," Reliable's Patrick Gallagher explains in our featured interview. "Nothing grows if you're not present." Continuing on this theme, James offers advice on hiring strategies for growth. Then Patti reports on the decision to create a new MCC code for gun shops.

ISOs and Agents have some serious competition from PayFacs today. One of the major competitive advantages these companies enjoy is a streamlined online application that results in instant approval and automatic integration with their technology solution. I am already talking to dozens of agents who are now boarding all, or at least a portion, of their new MIDs through a PayFac / ISV that has become an ISO, in order to leverage the distribution of the 1099 agent channel. It is time to wake up and remove the onboarding friction that exists. A great first step is to explore a partnership with our sponsors, NMI and IRIS CRM, to discuss how their new instant onboarding solution can help. They have a streamlined online application that can be customized to suit your needs. They are integrated directly with the underwriting departments at most of the top processors. And they can instantly create your NMI account in order to create quick and easy integrations.

This week we mix it up a bit. James kicks off the podcast with a discussion of option selling, and Patti follows that up with a report on Apple Pay's lack of options. Plus, you won't want to miss our featured interview with Seshu Madabushi, Founder & CEO of MKonneKt, about the value of a data-driven approach to marketing.

There is still a lot of open road in front of the local merchant sales professional selling general solutions to merchants who are not yet ready for the software revolution. These merchants want simple payment processing solutions which still allow payments to be processed whenever and however they want. This edition is sponsored by North American Bancard. We discuss the ins and outs of selecting the right solutions and crafting the right presentation for these local SMBs.

This week we interview Mike Peters who stepped in as CEO at GetBeyond as Bob Carr shifted his full-time focus to his philanthropic pursuits. We discussed the structure and strategy of GetBeyond and how integrated payments will shape the future for feet on the street sales professionals. James follows up with his take on tech companies becoming ISOs. Patti's insider's report focuses on the Metaverse and what payments professionals should know about it.

In this week's edition of the Merchant Sales Insight, I explain how payments professionals can find, contact, and sell software companies on integrating payment processing. This edition is sponsored by Tilled, who has, in my opinion, the best all around package for technology companies who want to monetize payments. Fortunately, they also partner with ISOs and Agents, allowing them to sell software companies that add new MIDs to their portfolio every month on auto-pilot.

"Just selling payment processing is not enough," Vijay Sondhi, CEO at NMI tells James & Patti in this week's featured interview. Then James addresses the need for ISOs to streamline merchant onboarding, and Patti reports on Senator Durbin's latest plan for regulating merchant acquiring.

If you sell payment processing or technology to retail stores, you are aware of the disconnect that often exists between the in-store and online experience. In this edition of the Merchant Sales Insight, I provide you with an introduction to the sales process and what retailers really need. I also discuss solutions from our sponsor, retailcloud.com and how they are changing the game for ISOs, Agents and Retailers

In this week's edition of the merchant sales podcast, I share a replay audio from our recent live event on B2B Payments with my special guest Eric Jenks from Paytrace. B2B payments amounted to $33 Trillion last year! (Not Billion.... TRILLION) Only a small fraction of this volume came through card payments. This is the perfect time to go after B2B accounts and generate massive residual income for the long term. These merchants generally need a simple virtual terminal to get up and running. They are very profitable, and they rarely cancel.

In this week's edition of the Merchant Sales Insight, I share 3 steps that every agent, ISO and Acquirer should be following in order to multiply portfolio value by embracing software with integrated payments. I would like to thank NMI for working with me on this one. I know you will find valuable insights and my hope is that you will begin to future proof your portfolio by embracing the reality of payments today and preparing for the shift to mobile payments.

Agents will shift over the next 36 months to sell specific verticals on bundled software / payments. They will all be selling for technology companies. Legacy ISOs can either embrace technology, or they can wait for technology companies to become ISOs and steal their agents. In this special edition episode of the merchant sales podcast, James Shepherd shares a roadmap to long term success and growth through the agent channel. If you are an Agent, ISO, ISV, or Acquirer, this episode is for you.

Too often, agents are losing deals to competitors like Toast, simply because these competitors offer free hardware. In this week's edition of the Merchant Sales Insight, we discuss the future of free equipment, especially with the shift towards point of sale systems and smart terminals. I would like to thank Dustin Magaziner of Paybright for his help with this edition!

Real-time payments are coming to checkouts, are you ready to sell? This week Ron Herman describes the Real Time Pay-by-Bank POS solution his firm, Sionic, has built, and the opportunities this creates for ISOs and agents. Plus, James explains the psychology of generating questions and curiosity from your openings, and Patti reports on legislation that would require more transparency in surcharging and cash discount programs.

"Too many agents are losing deals unnecessarily," says Dustin Magaziner, Partner at merchant services provider PayBright. Discover how PayBright goes the extra mile to help agents land every deal that makes sense from a profitability perspective. Plus James shares thoughts on BNPL and Patti reports on generational differences in digital payments.

In this edition of the Merchant Sales Insight, I am covering what I consider to be a new segment of retail that consists of gas station stores, convenience stores, liquor stores and other retailers where the consumer experience should be "quick." I talk about how to approach these business types and what type of solution they really need, versus specialty retail shops such as clothing and hobby stores that a different set of needs.

Discover how MYR helps ISOs and agents position QSR clients as truly quick service options, and bridge mobile, online and in-person food ordering and payment. Plus, James discusses financial literacy and the use of capital, and Patti reports on a Visa rule change aimed at countering fraudulent charge backs.

Building an ISO is much easier than it was when I first gave it a shot 13 years ago! With technology companies and FSPs like Maverick Payments, you can now promote your own brand on the statement and throughout the entire merchant experience while remaining focused on selling payment processing and growing your book. I would like to thank Ben Griefer, COO at Maverick for working with me on this one!

If you're struggling with pitching integrated payments because deployment and support take too much time away from selling, you're going to want to catch this week's episode, as James & Patti interview Joey Marzelli, Co-Founder of Boomtown, an outsourcing firm many ISOs use for smart terminal deployments. "Our technicians can be dispatched pretty much anywhere in the U.S. within a day or two," says Joey. Then James explains the importance of understanding opportunity costs when scaling up your business, and Patti reports on Apple's BNPL play.

I started talking about dual pricing because of compliance concerns over Non-cash adjustment type programs. After selling dual pricing in the field, I prefer it because it is easier to explain, easier to sell and provides a better customer experience than cash discounting. If you want to see the future of passing the cost of processing on to the consumer in a way that makes sense to everyone while remaining compliant with card brand rules, and generating the same margin as cash discounting, this is a must read edition!

This week James & Patti interview Joshua Benedetti, CEO at Card Z3N, who is building a portfolio by catering to verticals that may not be on the radar for most ISOs and agents. His first big push was in aerospace. Then James gives a first-hand account of setting up a merchant on dual pricing, and Patti reports on P2P payment trends.

This week we have a special, expanded edition of the merchant sales insight that will tell you everything you need to know in order to pitch interchange optimization to B2B merchants and to understand how optimization and padding in general can be used in your sales process. I originally wrote an eBook with Eric Jenks of Paytrace several years ago on this topic, but some of the information was out of date and I felt it was time to make an updated version. This eBook was a joint production of both Paytrace and ISO Amp. If you are looking to provide optimization savings to your merchants, this is the resource you need.

High risk processing can be extremely profitable if you target the right verticals with the right approach. In this week's episode, Josh Ewin the President & COO at Helios Payments lays out their approach to the high risk space and how they are building their portfolio. James follows up the interview with a segment on how to sell dual pricing where he shares his experience from the field and then Patti finishes up this episode talking about Crypto payments, a hot topic at this time.

Toast has 48K+ restaurant clients as of the fall of 2021 when they filed for their IPO. This is a huge number, but only represents about 5% of the total restaurant segment. In this week's edition of the Merchant Sales Insight, I worked with one of my favorite, truly processor agnostic POS systems, Quantic to provide a road map of what you need to offer in order to compete with Toast and win in the restaurant space.

In this week's episode, James covers 3 important trends that represent the biggest threats and opportunities for merchant sales professionals and ISOs in the next one to five years. This is a special, shorter episode with James focusing on what he sees in the market place and providing practical tips. He also focuses on taking your payment processing business to the next level while avoiding the risks.

In this week's episode, we talk with Erik Nicholson from Card Connect about the challenges facing ISOs / Agents as business owners seek integrated payment solutions. We also explore how Clover has leveraged the direct sales channel to win big. James talks about mapping your own version of success in the payments industry and what it will take to get there. Then, Patti talks about Fed Now, the new push by the Fed to provide instant payments to bank accounts.