A message to fellow merchant account providers, agents and reps: Do what is right!

I have spent many years in the merchant services industry. I love it! But that wasn’t always the case.

I avoided this industry like the plague when I was first considering a career change. The reason I avoided it was because in my last career, I met many reps. They didn’t seem to be the most upstanding individuals. However, it is because of them that I love my job!

When I decided to hear out the recruiter, I made it clear that I would not compromise my morals and will always do what is right for the customer, even if that negatively impacts the bottom line. To my surprise, they loved that and proceeded to tell me that they operated in the same fashion.

I lived in medium city that operated like a small town, where everyone knew everyone. There was a lot of business though. Because it was a small town mentality, if you didn’t do right by a customer, it would always come back to haunt you. So, I proceeded with a special offer: “I will guide any business on credit card processing / merchant services, free of charge with no commitment to ever switch to me”. My boss thought I was crazy and leaving money on the table. I meant it too, I encouraged customers to take my guidance and proposals to their current providers and told them if they need help getting them to match my proposal to call me and I will see if I can talk them into it. If they couldn’t get the match, to come to me and I would help them out. Yes, many of the processors matched my offer, but a majority of them didn’t even bother and just chose to give me a shot. Before I knew it, I was the top rep with a respectful income. I was speaking for the state, at universities and organizations aimed at helping new businesses. I felt like I belonged.

Since then, I have helped thousands of merchants with guidance, offering services and consulting. Because nearly every statement I see I can find something either morally wrong, or just priced higher than I can go, I get to be the hero. I have also met many other reps who have the same principals as I do and one thing is clear, you can be very successful doing what is right.

With that being said, if you have the opportunity to remove a fee, just do it! The customer will appreciate it and stay with you longer or refer you business. And for the love of everything, stop tricking customers into equipment leases. Would you personally lease a piece of equipment that you can buy for a fraction of the price? Even a rental payment is 100% tax deductible and serviced by the processor but a lease literally screws the merchant. How would you feel if someone did that to a family member of yours?