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The “New” Cash Discounting Compliance
*I am not an attorney; this is not legal advice. Visa is back on the attack against non-cash adjustment and other forms of cash discounting. They are working with large acquirers for enforcement. Fines are being levied. The time has come to pivot if you are...
Q & A – Are Written Proposals Risking Your Sales?
The agent today asks James, “What is your opinion of giving written proposals?” Many people in our industry don’t agree with the practice of giving merchants a written proposal. There is always the possibility that a written proposal might be used by...
Q & A – Choosing The Right Pricing Structure: Tiered Pricing VS. Interchange Plus
The question today comes from an agent asking how to decide which pricing to use for merchants. Will interchange or tier pricing be the best option for the agent? How does the size of the business influence this decision? This is a great question. Many newer agents...
Q & A – Generating Merchant Leads with Online Marketing
The question this week is from a director of client services for a processing company. He also partners with marketing companies to create very personalized, niche specific cold email campaigns to generate appointments. He asks, “What kind of messaging or angle...
Q & A – Customer Says, “I Will Shut Down Your Merchant For Cash Discounting!”
The agent’s question today involves a big account - a 45 location fast food chain doing a few million per month and as many as 200,000 transactions per month. An irate customer felt there was extra tax charged. AGENT: How do I explain that to satisfy the customer...
Q & A – How to Train Merchant Employees for Cash Discounting
The agent today is newer to the world of cash discounting. He has a car dealership client seeing more customer dissatisfaction than expected toward cash discounting. What advice can James give to make easier implementation of the program and offer better training to...
Q & A – How to Overcome Objections to Cash Discounting?
The question today comes from an agent who’s getting objections to cash discounting. She wants to know how to overcome these objections. Before answering that specific question, I’d like to help you avoid the objections altogether! The only objection to cash...
Q & A – Cold Calling Merchants in Saturated Markets
The agent today is from the UK. She asks what to do when the merchant says, “You’re the sixth person to call today about card services!” How can you get past that instant barrier? AVOID THE BARRIER Here’s some sales psychology. When setting appointments, there...
Q & A – How Do I Become My Own ISO?
The question today comes from an agent who has returned to the industry after a few years break. He disagrees with the direction of his current company and asks, “How can I break with my company and launch out independently?” James first explains the various...
Q & A – How Can I Justify Switching From Shopify
The agent this week has several prospective clients who use Shopify. She asks how to overcome the objection of cancellation fees for switching? I think the Shopify model is one of the best in the industry. They’re one of the toughest competitors for agents. They’ve...
Q & A – How to Flip Stripe Merchants to Your Gateway
This week’s question is from an agent whose clients are mostly eCommerce merchants. Many eCommerce merchants are well satisfied with Stripe. She asks, “What is the talking point and strategy to engage satisfied Stripe customers?” There are a couple of big benefits...
Q & A – How can I ease the fears of my client?
The question this week is from an agent whose cash discount client has some concern about legal threats from that ½ of 1% of disgruntled customers. The client is a 45-location well-known fast-food chain in the southeast which has completed the first month with the...