Most sales people and ISO’S are convinced that prospects care about the details of their current statement.  This misconception creates several unique problems in our industry.  That lie leads sales people to dig into the statement and try to understand every minute detail of it.  However, service and technology are merchants’ key interests.  They want a positive outlook for the future rather than dwelling on the current statement.  The only vital information for sales reps is how much merchants are currently paying and how much they would be paying if they switch.

As an example, consider buying a car.  The person you buy from doesn’t talk about all the possible features of your existing car.  The seller doesn’t ask about your current financing.  Rather, the topic of conversation is focused on the benefits of the new car.  The person just wants to sell you a new car.  In talking to processors and sales people, I’m finding they are hung up on the question of merchants’ current rates.  But like the car sales person, merchant services reps should talk more about the benefits of a new arrangement.

Of course, merchants DO like to see a proposal which shows the rates they have.  There is a solution for that at  This technology gives reps the ability to do a proposal in one or two minutes.  You don’t need details from the current statement.  Our algorithm will build out what their new statement is going to look like.  We’ve gotten great feedback from many ISO’S and sales reps who are using it.  This Friday, February 16th, I’m offering two GoToMeeting demos of the instant quote tool.  You will find a link below to sign up for a demo at 10 a.m. or 4 p.m. EST. gives sales people freedom to focus on the benefits they have to offer.  There is no reason for reps to even get a statement.  Many of you are losing a ton of commission by asking merchants for a statement before gaining trust.  Our industry loves to focus on the evil competitor.  Other than reminding merchants their current rates are really high, don’t dwell on the current statement.  Prospects don’t respond well when sales people criticize their choice of processors anyway.  Get a positive response by offering a good outlook for the future and better rates going forward.

My advice is go to and sign up for the 30-day free trial.  Yes, it’s a tool we built.  Yes, I have an interest in the company.  Of course, I am biased!  But I honestly don’t know of anyone else in the industry who has a tool which works without a statement.  You can create a beautiful PDF proposal without ever seeing a merchant’s statement.  The only information you need is their total volume, the average ticket size, and their total monthly fees.

I hope many of you will join me this Friday for the GoToMeeting demos.  Learn how simple the instant quote tool is.  Be ready to get all the benefits of the tool when you’re signed up for the free trial.  Be on the cutting edge with our instant quote tool technology.  I’ll guide you through, so you can start getting your commission and making the sales!  Click on the link below to sign up for the 10 a.m. or 4 p.m. EST GoToMeeting demos this Friday.

Read the previous article here:  What is a Front-End Processor – Platform? – Merchant Services

Read the next article here:  Two Keys to Cutting Your Sales Cycle in Half

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