How to Add Value to Businesses...and Save your Merchant Portfolio.
I have sold merchant services for over ten years. It took me a while to realize that I was racing to zero pricing customers lower and lower, only to be undercut by other salesmen who able to price lower than me just because their cost basis is lower. Not only was I seeing attrition happen in my portfolio, the actual amount of income that I was earning from each customer was decreasing.
Needless to say, I had to do something differently. I needed to change my approach if I wanted to continue earning a living in this industry. It was time to add value to my services. But how? The best way to help my business customers is to help them. And the best way to help them after listening to their pain points, was to simplify their processes. I do this by combining their invoicing, payment reconciliation, and payment processing in one software.
The software I offer them is Singe Payables or Biller Genie to simplify their AP. They both allow businesses to store their customers' information automatically once they make a purchase, which saves them time by not having to input that information manually. Businesses can create invoices and accept payments online 24/7 with either Singe Payables or Biller Genie. Once their customers make a payment, it is automatically reconciled in real time in their accounting software. The only difference between the two software is that the business actually earns rewards on the back end for every payment transaction.
Being able to provide a solution to businesses that simplifies their AP, adds enough value to what you offer as a salesperson, that you don't have to set your merchant processing pricing so low. What does it cost the business to move with software? Zero! It costs nothing to you, the salesperson, or the business owner to start using the software. This has changed my merchant processing business for the better, and I do not plan on "racing to zero" ever again.