Who is your target audience? Home businesses are going to be hard to get because of services such as PayPal and stripe or square. You would probably need to look for businesses with physical store fronts - again you need to figure out your target. What are you offering that others can’t? Are you a broker finding people the best value? Do you work with high risk (CBD businesses are searching for US based providers) - there are a lot of factors involved
The answer depends on where you are today. If you have a happy customer base, asking for referrals will be the best bet. Offer a statement credit to refer family/friends, or to leave a glowing review on your social media/google page. As someone else mentioned, the only differentiation is in price and service, and it's an industry that has historically been filled with scam artists so your market will be leery of dealing with anyone they don't already trust. Ask 10 business owners if they've ever been "ripped off" by their credit card processor and 9 of them will have a story to tell you. This is why I don't suggest "marketing" per-say...
Aside from this general advice, no matter what anybody says COLD CALLING IS KING. If you're concise, honest, and quick to the point you can run through 100-200 calls per day pretty easily. I like the Sandler sales methodology for my prospecting, but there's a million "scripts" and "systems" you can find online to help with this. When I was selling merchant processing I would typically set up around 3-4 "discovery meetings" where we broke down statements and walked through how our rate structure would lower their bill.
I have worked with a Payments Industry Tier One Core Processor of credit cards for the last 9 years. There is upwards of 8,000 middlemen or should I say middle person ISO’s (Independent Sales Organization) that do not process the credit cards they are middle person’s having to rely on Tier One Core Processor’s to process through the fed reserve bank of the U.S. ISO’s only take your card information and take calls they do not process.
Now to the subject at hand.
How about giving something back to the merchant, who seems to get fleeced so many times by scam artist’s pretending to be the real deal in credit card processing. As an example, how about those in this credit card space that lease terminals????? Now why on earth any merchant would lease a terminal dumbfounds me. Thousands upon thousands of ISO’s, a few Tier One’s and many banks and credit unions lease terminals to merchants.
An example, that I have seen hundreds of times is a lease of a terminal at $50.00 per month for a 4 year term, which equates to $600.00 annual cost per year and $2,400.00 for the length of the lease????? WOW what a rip off!!!!!!
A brand new state of the art EMV terminal costs about $125.00 to purchase from Amazon and then download to it.
My “give something back” program is one where I purchase a new preprogrammed terminal and give it out right to the owner at no cost to them, they own it outright. In addition, I also guarantee that I will reduce their monthly credit card costs to their current card ISO in most cases or Tier One in Core Processor in most cases.
So the merchant has no money to be paid out of pocket and starts immediately to reduce their processing fee’s sometimes in large amounts and sometimes in smaller savings amounts depending upon the gouging going on at the processing level they currently face with their processor or ISO.
It is time that the merchants start to have more rights and the government should help them at least restrict some of these companies doing financial harm to merchants that often are failing in the towns and cities throughout the U.S.
Just drive down the main streets in U.S. cities and see all of those stores etc that are now empty and failed businesses.
I hate to sound negative, but my first thought is: Why? It's a commodity that competes on price. Lower prices will never make you any money.
I've been contacted by independent marketers for decades and none of them have been around long enough to renew. There is very little barrier to entry. Your only perceived advantage is price or service and both of those fall to a third party.
I've used BB&T for years and even those representatives turned over frequently, I think BB&T has even withdrawn from direct sales and servicing.
You need to determine who your audience is, the vertical you are trying to sell your services to. You also need to address your services and how they are better than the companies such as Square and PayPal, which as you know are not cheap to use. Never ever sell yourself short if you provide good service, people are willing to pay a little more knowing that someone with a face will be there for them.
If your looking for facts, a supplier of credit card services, of which I am one, can beat Square, Stipe, PayPal on price any day of the week. I can even have someone setup and running 100% within 2 days using most technology available. The problem is that there are so many not so honest providers of merchant services that it is hard to get people to listen to you so you need to have a thick skin, not take things personally and be tenacious.
I represent an award winning company called Sphere (formerly known as Anovia) where you'll pay lesser fees than what you're used to paying, you get a commission on each credit card transaction, fraud protection, and Data Breach Insurance, let's see if we can help you or if not we'll give you a giftcard worth $250 for the privilege!
Join Your Local
Business Network
Connect & get quality referrals
from Small Business Owners
Answers (1-10)
Who is your target audience? Home businesses are going to be hard to get because of services such as PayPal and stripe or square. You would probably need to look for businesses with physical store fronts - again you need to figure out your target. What are you offering that others can’t? Are you a broker finding people the best value? Do you work with high risk (CBD businesses are searching for US based providers) - there are a lot of factors involved
The answer depends on where you are today. If you have a happy customer base, asking for referrals will be the best bet. Offer a statement credit to refer family/friends, or to leave a glowing review on your social media/google page. As someone else mentioned, the only differentiation is in price and service, and it's an industry that has historically been filled with scam artists so your market will be leery of dealing with anyone they don't already trust. Ask 10 business owners if they've ever been "ripped off" by their credit card processor and 9 of them will have a story to tell you. This is why I don't suggest "marketing" per-say...
Aside from this general advice, no matter what anybody says COLD CALLING IS KING. If you're concise, honest, and quick to the point you can run through 100-200 calls per day pretty easily. I like the Sandler sales methodology for my prospecting, but there's a million "scripts" and "systems" you can find online to help with this. When I was selling merchant processing I would typically set up around 3-4 "discovery meetings" where we broke down statements and walked through how our rate structure would lower their bill.
What type of business do you have?
We've used Facebook & its worked great. This site seems more geared only for local business networking.
I have worked with a Payments Industry Tier One Core Processor of credit cards for the last 9 years. There is upwards of 8,000 middlemen or should I say middle person ISO’s (Independent Sales Organization) that do not process the credit cards they are middle person’s having to rely on Tier One Core Processor’s to process through the fed reserve bank of the U.S. ISO’s only take your card information and take calls they do not process.
Now to the subject at hand.
How about giving something back to the merchant, who seems to get fleeced so many times by scam artist’s pretending to be the real deal in credit card processing. As an example, how about those in this credit card space that lease terminals????? Now why on earth any merchant would lease a terminal dumbfounds me. Thousands upon thousands of ISO’s, a few Tier One’s and many banks and credit unions lease terminals to merchants.
An example, that I have seen hundreds of times is a lease of a terminal at $50.00 per month for a 4 year term, which equates to $600.00 annual cost per year and $2,400.00 for the length of the lease????? WOW what a rip off!!!!!!
A brand new state of the art EMV terminal costs about $125.00 to purchase from Amazon and then download to it.
My “give something back” program is one where I purchase a new preprogrammed terminal and give it out right to the owner at no cost to them, they own it outright. In addition, I also guarantee that I will reduce their monthly credit card costs to their current card ISO in most cases or Tier One in Core Processor in most cases.
So the merchant has no money to be paid out of pocket and starts immediately to reduce their processing fee’s sometimes in large amounts and sometimes in smaller savings amounts depending upon the gouging going on at the processing level they currently face with their processor or ISO.
It is time that the merchants start to have more rights and the government should help them at least restrict some of these companies doing financial harm to merchants that often are failing in the towns and cities throughout the U.S.
Just drive down the main streets in U.S. cities and see all of those stores etc that are now empty and failed businesses.
A crying shame!!!!
I hate to sound negative, but my first thought is: Why? It's a commodity that competes on price. Lower prices will never make you any money.
I've been contacted by independent marketers for decades and none of them have been around long enough to renew. There is very little barrier to entry. Your only perceived advantage is price or service and both of those fall to a third party.
I've used BB&T for years and even those representatives turned over frequently, I think BB&T has even withdrawn from direct sales and servicing.
Good luck!
You need to determine who your audience is, the vertical you are trying to sell your services to. You also need to address your services and how they are better than the companies such as Square and PayPal, which as you know are not cheap to use. Never ever sell yourself short if you provide good service, people are willing to pay a little more knowing that someone with a face will be there for them.
If your looking for facts, a supplier of credit card services, of which I am one, can beat Square, Stipe, PayPal on price any day of the week. I can even have someone setup and running 100% within 2 days using most technology available. The problem is that there are so many not so honest providers of merchant services that it is hard to get people to listen to you so you need to have a thick skin, not take things personally and be tenacious.
Through media interview. Please call me if you care to discuss further at xxx-xxx-xxxx