The Spring Surge....NEW CREDIT CARD PROCESSING REPS...YUK!!!

Well, spring is approaching and the flowers will be blooming and all the dormant life will be springing back to life…..aaannnddd, if you’re in business, you’re going to start seeing “new life” coming forth in the form of credit card processing reps. Yep, that’s right, especially here in the Midwest and eastern states when the weather warms, even slightly, we see a new hiring frenzy in the merchant services industry.


You see, this industry has the potential to make for a very lucrative career for the successful rep. However, not many people have a burning desire to be out knocking on doors in sub zero temps and slop and slush oozing into their shoes. So, come spring time, we see a lot of adds enticing sales reps to apply. Unfortunately, the way it goes is typically, those that do get hired, receive maybe a half day or so of training, usually done in some hotel conference room. Then the trainer (sales manager) sends them to the street with their “pitch” or "deal-du-jour". They’ll attempt to entice you with what sounds like the lowest rates you’ve ever heard of. If you show even the slightest bit of interest, since they are new, they are encouraged to get the manager on the phone. It’s the typical TO (Turn Over), to the more knowledgeable (maybe???) experienced guy. Their whole motivation is to get you to sign on the spot….DON’T DO IT! Even if what they offer does, on the surface, seem to be a better deal than you are currently paying, take your time to really dig into it before making any decisions.

Usually what happens is that you will see a noticeable increase in sales calls from merchant services reps whether it be thru your door or on the phone. The biggest majority of these “newbies” don’t make it much past a couple months, if that long. It’s a very tough and competitive business and most business owners get so fed up with it that they rarely give any of them the time of day. Consequently, after a while, the faint of heart, or those that have their feelings hurt easily, decide to give up and seek out some other form of employment. They just can’t take all the rejection. Then, the same company will hire and “train” (if you want to call it that) a new batch and send ‘em to the wolves (uh, that would be you...the merchant). I can pretty much guarantee that if you were to simply collect business cards from every one that calls on you, you’ll see numerous different reps from the same company calling on you.

So, what’s the purpose of this article anyway? Well, I guess it’s simply this. I’ve been in this business for a lot of years and, quite frankly, I’m still doing business with merchants that I originally signed up over ten years ago. Why? Because I have demonstrated to them that I am interested in the mutually rewarding long-term relationship, not simply “getting the deal”. That’s what you should be most interested in too. How close of a relationship do you have with your current rep/provider? Do you see them on a fairly regular basis? Have they been willing to answer any questions you have about any of your fees? Are they responsive to you and your needs? If you can answer “Yes” to those questions, then don’t bother looking elsewhere. Every provider out there has the exact same cost basis since all the Interchange Rates are set by Visa and Mastercard. The only difference from one to the other is how much they feel they can make off of you and there is, quite frankly, no controls in the industry….yet, that is. So, if you have a good individual that you are currently working with, make an appointment to sit down with them and go over all your numbers and hey, while you’re at it, ask for a rate reduction. It will be time well spent….I promise you

Another thing that I have always strived to do with my merchants is to work with them to control their costs for accepting plastic in any way we can. In addition, I have also shown them numerous ways to help increase their sales creatively by utilizing gift cards, capturing customer’s emails for future marketing and social media marketing as well, especially of late by using Mobile Text Marketing.

Look, the bottom line here is, spring has sprung and if you’re like most businesses across this great country of ours, you’ll soon be seeing increased traffic and business. Don’t let this seasonal surge in credit card reps distract you from your main focus. Take the time to get a review from your current provider before it gets real busy or, seek me out if you feel that I may be of service to you. I wish you great success in 2011 and beyond. Don’t be afraid to think outside the box a bit going forward