Setting the Wrong Growth Expectation Could be Costly

Growth could be the most powerful value proposition of the three.   However, unfortunately, there is not much you can offer merchants in terms of revenue growth with credit card processing.  Let me share one of my most expensive and most frustrating lessons with you so you don’t have to repeat it:  Stick to payment processing in your pitch.  Don’t lead off with Point of Sale or some gimmicky marketing program.   The growth value proposition in our industry is more of an illusion than anything else.  We create value through cost saving and a reliable service that brings in their revenue. So unless they are not currently accepting cards, “Growth” should not be a big area of focus.

There are some areas of growth, such as new forms of payment like mobile payments and AMEX OptBlue.  Tell them about these but give them realistic numbers. Say things like, “My goal is to make processing your transactions easier and less expensive while also making sure you always have the right technology to process every form of payment in the market place.  Then you never lose a sale.”

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