‘n my experience as an attorney, I think that sometimes the most valuable service you can provide is sharing your observations. This type of communication is very effective because it goes far beyond simply reciting legal rules and principles in a sterile vacuum.

Instead, sharing observations allows you to convey practical, “real world” information. This promotes cause and effect understanding of the occurrences that seem to elude corrective efforts. In this article, I refer to unnecessary loss of merchant accounts.

Merchant account termination and loss are avoidable. Yet these revenue-diminishing events continue to occur with alarming frequency. Could it be that needless merchant account loss is just an acceptable part of any merchant portfolio? As an acquirer, ISO or merchant level salesperson (MLS), do you expend enormous sales and marketing resources to form merchant agreements knowing that you will lose a significant number of signed merchants?

If the answer to the preceding questions is “yes,” and you do not care about avoiding preventable loss, then you might not want to read this article. However, if keeping the merchants that you sign and enjoying the revenue stream that they provide interests you, please continue reading.

For more than 10 years, distressed merchants have contacted me. Almost invariably, they seek urgent solutions for acute problems with their merchant accounts. Among other things, merchants request assistance with terminated or MATCH-listed merchant accounts, chargeback problems and the withholding of reserves for extended (business-threatening) periods of time.’

Read more at Why Are You Losing Merchants?

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This entry was posted on Sunday, March 20th, 2005 at 11:23 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.