| First of all I want to say that this article is not for | | | | you. In other words if ABC processor does your |
| merchants but is for MLS and ISOs who understand | | | | quote, you really should send them the business |
| what I am about to say: Merchant processing | | | | pertaining to the quote. Eventually you might begin |
| statements are a pain! Now with that out of the way, | | | | relying on whoever gets those statement quotes the |
| let's talk about why that is. | | | | fastest regardless of the rates, fees, or service. |
| With credit card interchange rates constantly | | | | HOW TO GET MERCHANT ACCOUNT ANALYSIS |
| changing, many agents have difficulty reading and | | | | Did you know that you can now have someone else |
| offering a merchant account quote. How much | | | | do the tedious work of figuring out how much a |
| time do you think you have spent staring at | | | | merchant is paying to accept credit cards for their |
| merchant statements while still not being able to offer | | | | business as well as what rates to offer them in order |
| them a competitive statement quote? Is | | | | to show significant savings each month? |
| the merchant account priced as Standard tiered, | | | | Furthermore, you have the option to choose how |
| Interchange-Plus, or the confusing | | | | much you will make! Each completed analysis is very |
| Enhanced-Recovery pricing? How much time has | | | | inexpensive and can be done quickly. The best part |
| been lost in the sales process during this important | | | | is that you can send the business to whoever you |
| step! | | | | want. |
| On the other hand, perhaps you currently work with a | | | | I am not talking about hiring another employee to do |
| processor who offers a free | | | | this. That is likely too expensive for what you actually |
| merchant statement analysis service. They want | | | | need. What would it cost to hire an hourly employee |
| to do it, but there are more pressing tasks that must | | | | to handle merchant account statement analysis for |
| be handled. I know as I worked for a company for | | | | you? Consider the many expenses: Hourly wages, |
| many years as an Recruiter and Relationship Manager | | | | taxes, medical benefits, and training. Notice the chart |
| and more often than not, I saw merchant statements | | | | "Employee Cost Per Hour" on this page and see how |
| that got lost, piled up on the desk or were handled at | | | | much you would have to spend on average per hour. |
| the very end of the day if there was time. The | | | | Now consider the time you spent looking over these |
| simple truth is that ISOs and processors have a lot of | | | | statements? How much better it would be to use |
| work to handle and are often understaffed. Emails | | | | that time to generate more leads and sale more. |
| must be answered and phone calls must be made. | | | | Maybe after you review your business needs you too |
| Sales is always the priority. An eight-hour day just | | | | will consider outsourcing this tedious work and putting it |
| isn't enough time to get your prospect's analysis done | | | | into the hands of those who have the time to do it. |
| quickly so you can beat the competition. Another | | | | Maybe you wont. But keep in mind that you now have |
| aspect to consider is that you have a moral obligation | | | | options that will give you the advantage and continue |
| to send the business to whoever does the quote for | | | | to focus on what you really want to do - sell more! |