• Gert Scholts

Merchant Services: Selling value instead of rates


This sales tip is aimed a sales people who sell payment solutions yet the idea relate to many other sales people too.

Have you heard this before:

'Businesses taking online or in-store card payments look for a payments provider that offers the lowest transaction rates and charges. It is all about price!'

And when sales people approach a potential customer, they believe the only way to get a follow up meeting or sale is to quote the lowest possible rates (and perhaps even below those)

My experience is businesses seek a payments provider that offers them best value for money. Smart negotiators may give the sales person the impression it is all about rates, yet they have requirements beyond pricing.

It is the sales person's job to strike a relationship that allows for these requirements to be articulated.

Here are just some of these possible requirements other than price:

  • Future proofing

  • Reduced settlement days

  • Improved authorisation rates

  • State of the art fraud detection and prevention

  • Service reliability

  • EPOS solutions

  • Fast integration

  • Foreign currency capability

  • Chargeback management

  • Amex, JCB acceptance

  • Alternative payments acceptance

  • Bespoke reporting

  • One contact for account management

  • Innovation meetings

The larger the prospective merchant, the more important it is to agree an initial meeting to fully understand these requirements.

Smaller merchants maybe more price driven yet their other requirements may become more evident when asking about their growth plans.

Merchant Services sales people are payment experts. They would sell themselves short by selling rates instead of value.

If you want your Sales teams to sell value instead of rates, feel free to contact me. 07738010170 or look here for more information

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