Merchant Sales Podcast

In this episode of the Merchant Sales Podcast, Gregg Aamoth, CEO at Popcodes, shares how his technology allows ISOs to send messages and notification to smart terminals. That information can increase revenue through value added services and reduce attrition through education and survey style communication. James follows up this interview with tips on pitching dual pricing, and Patti shares insights on automated checkout. This podcast is brought to you by ISO Amp, the leader in full service, statement analysis. Learn more at https://www.getisoamp.com

How do you analyze a processing statement to give you the best chance of closing the deal? There are three key questions you need to ask. This edition of the Merchant Sales Insight is sponsored by ISO Amp, the leader in full service statement analysis. Visit https://www.getisoamp.com for more information. I do believe in having statements fully analyzed. However, there are some simple things to look for and understand which enable you to discuss a processing statement with a merchant, whether you send it to ISO Amp or not. The key is asking three questions: (1) Why am I analyzing this statement? Desiring to match the rate? Trying to maximize savings? Seeking Interchange Optimization? (2) How are they processing payments? You'll be lost if you don't realize you are looking at a high risk or an eCommerce statement, regardless of how well you categorize the fees. (3) Ask who is charging the fee? This is the key to understanding each fee on a statement. Is it charged by the issuing bank? (Interchange) One of the Card Brands? (Visa, Mastercard, Discover) The payment processor? Or, it could be charged by a technology provider. Understanding who is charging the fee is a key to understanding that fee and how it will impact your proposal.

Learn how Danny Mikhail and the team at Zuza are implementing true dual pricing with itemized receipts across multiple in-person and card not present channels. James also discusses why Dual Pricing may generate more consumer questions than legacy programs and why this is good. Patti finishes the episode by sharing some breaking news regarding Mastercard and their issues with the FTC over "blocking" competing networks. James even makes a prediction about how all this new regulation will play out in the card brand's favor.

How do you steal a restaurant client from Toast? This is very different from "competing with Toast" which was the topic of a recent panel discussion. In this video, sponsored by Lavu, I talk about what you need to do in order to take a restaurant client from Toast that is already working with them. Spoiler alert... It isn't easy and it usually requires a financial investment. Good news? It is a very profitable investment!

It's all about staying focused, explains Dustin Magaziner, CEO at PayBright. Dustin launched his career in merchant services while attending college, 10 years ago. He co-founded PayBright, which now supports sales teams in 7 states. James follows-up the interview with Dustin by asking ISOs and agents "What are you focusing on for 2023?" And Patti wraps up the podcast with details of a report challenging retailer assertions around interchange.

There are three things small ISOs should be looking for as they attempt to scale their business. This edition of the Merchant Sales Insight is sponsored by Maverick Payments. I believe they do a great job of providing all three of these things to small ISOs. 1. Every small ISO needs a technology focus. You need to offer great technology solutions, but you need to focus those solutions to a specific vertical or specific segment of the market. 2. Small ISOs need to avoid opportunity cost. You must feel confident in the ability of your upstream processor to take on the operational processes, such as underwriting and deployment. Then you can focus on sales. 3. Brand equity and brand focus are crucial to success as you seek to build momentum with your target audience. This means your logo should be prominently displayed throughout the merchant experience.

This week, Alexander Renzi from MAPP Advisors, shares his take on leveraging outside capital and acquisition for growth. Learn why ISOs might consider purchasing tech companies and vice versa. Then, James continues this conversation by explaining the pros and cons of using outside capital. And Patti provides an update on the Buy Now, Pay Later market that continues to grow.

Have you ever thought about becoming a bank? With Netevia, the sponsor of this edition, offering business banking services and building a new residual portfolio from your existing book of business is much easier than you may have realized. Learn what business owners really want from a neo-bank like Netevia and explore the concept of rolling out these services to your clients. Build residuals and increase retention.

This week we've provided the audio from a recent interview / live event James hosted. The topic is "how to sell card not present merchants." There's specific emphasis on the rise of Dual Pricing with Card / ACH Prices and compliant surcharging as viable options for these merchants. James also interviews James Derby from Payroc on their solutions being offered to their CNP merchants.

Netevia is rewriting the ISO playbook, bundling mobile banking and merchant services to create new revenue opportunities for ISOs and agents, Vlad Sadovskiy, Netevia's CEO, explains in this week's featured interview. Plus, James talks about buying accounts (and not in the traditional sense), and Patti reports on a new ad campaign against federal regulation of credit card routing.

James shares the biggest cost in every payments business, opportunity cost. You can't measure it and it doesn't show up on the P&L, but your number one goal should be to minimize this cost. Watch this edition to learn how you can identify assumptions and beliefs about your business, validate those assumptions and minimize your opportunity cost. Whether you are an individual agent or the CEO of a large acquirer or Payfac, this short video will serve as a reminder to focus not only on what you are doing, but on what you are choosing not to do.

As you think about your strategy for 2023 and beyond, there are 5 trends that you should consider. In this week's episode of the podcast and the Merchant Sales Insight, Patti interviews James Shepherd on his top 5 trends for 2023.

In this special, end-of-year edition of the Merchant Sales Podcast and Merchant Sales Insight, James is sharing the most important trends to watch in 2023 and how these 5 trends will impact your growth strategy. Don't miss this special edition and be sure to download the PDF version by clicking here: http://www.ccsalespro.com/wp-content/uploads/2022/12/2023_Integrated_Payments_Strategy_NMI.pdf

Let's make 2023 the year we finally learn how to bring the worlds of ISO, Agent and ISV together to compete in a beneficial way to all concerned! This week, we interview Thomas Moore, VP of Business Development at payarc, about the challenges of bringing the ISV world together with the ISO world. James follows up with advice around the ISV partnership mindset for individual agents. And Patti closes the episode with a report on economic trends that should bring record-breaking residuals for the month of December.

In this edition of the merchant sales insight, I want to talk about Valor Paytech's cloud based support and the importance of controlling terminal settings and the entire merchant experience from the cloud. I am always amazed by the technology available to agents and ISOs today versus when I started 12 years ago! Make sure you have full visibility and real time control of every device you deploy.

If you're selling payment processing to grocers and c-stores, consider selling EBT processing too, says Kyle Morgan, CEO at Mercantile Processing Inc. "You should be offering it as a value-add," he told James and Patti during this week's featured interview. Also this week, James explains the importance of "next action steps" when working with agents and with prospects, and Patti reports on struggles plaquing the crypto arena.

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.