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Lowest Rate Doesn’t Matter? Say What!??
I recently read an industry article written by another ISO. The article was written to other ISO and Mid Level Sales (MLS) agents and its aim was to give advice on how to sell effectively. Halfway through the article the author gives some tips, one of which is how to differentiate yourself from the competition. To my shock and amazement, the author claims that 1. The Best Price (lowest rate); 2. The Best Service; 3. Integrity in the Marketplace; and 4. Full Disclosure are not legitimate claims to separate yourself from the competition because everyone claims these. You see….this is the very problem with our industry. ISOs claim all the time to have these 4 qualities when in actuality, merchants laugh and then tell you it doesn’t exist in merchant services. Historically, the merchants are correct to think that. And when the author of this article states these 4 claims ARE NOT legitimate differentiators, they’ve in essence blown off these qualities (which are probably the 4 most important to a merchant). My take from this author was “since you can’t really be the best in these 4 areas, make up some other areas that no one else cares about but you, and make the merchant think they are important.” How lame! BestMerchantRates.com won’t ever back down from its aggressive goal to finish 1st in all these categories. We won’t just abandon the cause because the industry is trying to water-down these important qualities. The author may be right about one thing: ISO’s should make the claim if it’s not true. AGREED! So we’ll make the claim and let our growth speak for itself. Last time I checked, the 500 new merchants we boarded last month wanted all of these qualities and we delivered. That’s why they signed up with us.