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Class 401: Selling Merchant Services

 

Over the past 22 years as a professional salesman, I’ve been very blessed to have achieved a high level of success that has afforded my family and I a very comfortable way of life. I learned that truly successful sales professionals share several common beliefs and habits. The secret for you in duplicating similar success is not just in adopting their beliefs and habits, but to take vigorous action towards these beliefs daily. On your journey towards financial success, it is extremely important to understand that in order to reach and maintain a new level of success in your life, you will have to practice what others teach. So, allow me to share with you some of my beliefs and habits as to why, I feel I have a competitive edge over most other sales professionals, especially those that are newer to the selling profession.

 

I don’t want to burst your bubble, but this isn’t the part where we teach some magical sales script. This is where we teach you, what you need to do to prepare before you ever attempt to make a sale.

 

Let me start by stating the obvious:

  • You can’t be lazy or half-hearted if you truly want to be a successful salesperson.

  • Don’t expect to achieve full time success, with a part time effort.

  • If you don’t give 110%, don’t expect to get 110% back.

 

The Mindset of a Sales Professional – 

 

By now you probably notice that I keep saying “Sales Professional”. That’s because down to our soul, we carry the image of Top Sales Professional. We don’t just say it; we act on it every day in every way. We wear is so proudly it becomes infectious and our customers want to do business with us.

 

What Do All Top Closers Have in Common?                  “CLOSE LIKE PRO’S

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  • Open-ended Questions: They Develop a predetermined Series of Open-ended Questions based on Radiants known benefits.

  • Great Listeners: Closers Ask questions, then let the Merchant tell them everything they need to close the sale.

  • Create a Yes Momentum: Establish a Yes Momentum by using Tie-Downs early and often in their presentation.

  • NO FEAR: Top Closers have ZERO-Fear in Assuming the Sale after Establishing the Undeniable Benefits!

 

ATTITUDE IS EVERYTHING –

It’s been said attitudes are contagious, is yours worth catching. Your results in life can be a direct reflection of your attitude. Don’t believe me, just try making a 100 sales calls with really bad attitude and watch the results.

  • Excellent Attitude = Excellent Results

  • Good Attitude = Good Results

  • Poor Attitude = Poor Results

  • Bad Attitude = Bad Results

 

A Genuine Love for People -

Another character trait I see with Top Sales Professionals, is there genuine love for people! I’ve never met a Top Producing Sales Professional that didn’t genuinely love people and a result have people genuinely love them back. As Sales Professionals we are first and foremost in the people business, in fact if you genuinely don’t like people, please get out of the sales profession or don’t and make our job easier. 

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Goals –

Goals is one of my favorite subjects. I could speak for hours on goals, but for now I’ll just cover the common rules of setting goals for success.

 

The 3 rules to ensuring your goals are in balance;

  • Quantifiable   

  • Measurable

  • Realistic

Before you commit to a goal in writing, run your goal through the 3 pillars of goal success.

 

Goal Notes:

  • Goals are nothing more than a wish until they are committed to in writing!

  • The more detailed your goals are the better! [Hang pictures, bathroom mirror, car, desk]  

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Set Goals in these 5 arrears [arrange anyway you like, based on your beliefs and what motivates you]

  • Spiritual

  • Family

  • Health

  • Financial

  • Physical

 

A Sales Professional who has committed to their goals in writing, is a Salesperson who will outsell all other salespersons who don’t. The more goals a Sales Professional has, the more reasons they have to close a sale!

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Selling - Foundation Basics for Success –

 

Before you dive into the Sales basics and Scripting for Success, make sure you have a complete understanding of:

  • What is the Merchant Services industry? [You just need to know enough to explain it to someone else]

  • Who’s Radiant Merchant Services? [Memorize the Merchants benefits for using RMS]  

  • What are Radiants’ Core Beliefs for Selling Merchants?

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Transparency - The Clear Delivery of all Relevant Information.   

Accountability - To be held Accountable to what our Merchants have in writing.

Integrity – You can only have real Integrity with the delivery of transparent information in writing to be held accountable at a later time.

 

Ask Why Radiant Merchant Services is the Last Merchant Company you’ll ever need!

 

  • 50% to 100% Savings Guarantee – Understand how to present Wholesale and Split-Pay funding!

  • 100% Actual Savings Guarantee – We save our Merchants a 100% of what actually can be saved!

  • COVID-19 Hands Free Equipment – All RMS equipment has NFC Communications. Example:  Apple-Pay Tap-In-Go

  • RMS Equipment Policy - Merchants must Save $200 dollars above the cost of new equipment or the equipment is free!

  • 100% Compliant Processing Equipment! – Since 2015 all equipment must be EMV, PCI and Sha2 Compliant or face $25k fine!

  • 4 Year Equipment Replacement Insurance – If in a 30 min. tech call doesn’t fix it, we will overnight new equipment with no questions ask.    

  • 4 Year Rate Lock Guarantee – Radiant will not raise a merchants’ rates for 4 years!

  • 101% Rate Match Guarantee – If Merchant gets a real savings analysis, RMS we beat it by 101%

  • Free Payment Gateway with built-in Homebase Employee Management Software!

  • Free Receipt Paper Program – Join our Merchant Club and receive Unlimited Receipt paper and more…

  • Free VISA/MC, G-Pay and Apple-Pay Store Front Signage

  • Free COVID-19 Supplies

  • Merchant Club; receive discounts on Health, Dental Vision, Office Supplies and more…

 

Now that you have a clear understanding of our Industry, Company, its Beliefs and of course being fueled by your Goals, let’s get started on “The basics of Selling”

 

~ People with goals succeed because they know where they are going. Earl Nightingale

 

~ All Top Sales Professional go back to basics once every year! `Tommy Hopkins

 

 ~ The Sales Profession is highest paying hard work and lowest paying easy work in the world `Brian Tracy

 

~ You will get all you want in life, if you help enough other people get what they want. `Zig Ziglar

 

~ It doesn’t matter where you are coming from, all that matters are, where you’re going. `Brian Tracy

 

 

Presentation Basics for Selling Success –

 

Voice Control – Voice control is one of the most often overlooked parts of a well delivered presentation. From the moment your prospect opens there mouth it is vital that you are tuned into the speed and tone of their voice. It is imperative that within seconds that you understand how to mirror the speed and tonality of the person you’re presenting to. It’s been related to neuro linguistic programming.

 

NLP has identified 3 types of speech partners;

V=Visual

A=Auditory

K=Kinesthetic

 

Visual - A Visual personal processes information very quickly. In fact, they are generally thinking twice as fast as a conversation is carried. It’s very important to immediately mirror the speed and volume of a Visual person. If you don’t, your prospect will know immediately that he or she doesn’t know you. Don’t worry, like everything else it takes practice and in done right, you can change the speed and tonality of the conversation. Be warned Visual individuals have very selective hearing. To make sure your prospect has actually heard the most important parts of your presentation, politely ask them to repeat it back. Don’t do it to many or you will aggravate you prospect.

 

Auditory – An Auditory person has to hear things out during a conversation. Unlike a Visual person they aren’t thinking ahead of what’s being said, but rather listening intently to what is being said in the moment. They say things like, “I hear what you’re saying”, so it is important to slow down to mirror an Auditory person’s speed and tonality. In many cases it will be necessary and appropriate to repeat the most important parts of your presentation.

 

Kinesthetic - Kinesthetic individuals generally have the slowest form of speech. It’s not that they are slower thinkers, rather than the way they have been conditions over the years by their surrounding family and friends. The only acceptation to this is the elderly, they have most likely been through it all and at one point in their life made a conscious decision to slow the heck down. Be very respectful and slow down to their speed and don’t rush the conversation. Remember the world was a lot slower and less complicated just 20 years ago.

 

Remember not everyone is the same as you or even the same as your last prospect. Immediately key into the speed and tone in which someone says “Hello”. Immediately change gears to mirror using V.A.K as you guide.

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Preplanned Presentations for Success –

 

Back to the basics – The Steps to a Successful Presentation

 

  • Introduction – Clearly and Confidently Introduce Who You Are and Why Your Calling!

  • Attention Grabber – We live in a 30 Second MTV World, grab my attention or I’m gone!

  • Qualifying Questions – Build Credibility – Test Close!

  • Closing – Establish Value – Assume the Sale!

  • Post Close! – After the sale, explain what will happen in the 24 to 72hrs. Give the Merchant confidence that they just made a good decision trusting you, by professionally explaining that you’re going to email them a Welcome Letter that explains in detail what they can expect to happen next and that all your contact information will included. Tell then that your always just a phone call away, and that you will be calling them when their equipment arrives to make sure everything goes smoothly. Remember a Merchant left wondering, is Merchant left worrying by nature!

 

“You must always establish Value & Savings before you Assume the Sale”

 

All pre planned scripted presentations should start with the end goal in mind of, “Making a Sale” A Top Salesperson, knows that if sell on savings alone, your sale might die by savings alone. Top producers know that you have to establish value beyond savings to create a strong sale. Top producers also know how establish value by asking a series open ended questions to uncover their potential real needs and pain points. Radiant will require all of its new Sales Partners to create a script using a series of predetermined open-ended questions. Radiant will also have its Sales Partners practice and rehearse their scripts until they become internalized.

                     

Radiant understands that everyone has a different sales background. However, since every sales partner we hire has sales experience, Radiant designed its scripts as a base guideline for its sales-partners to follow. This allows our sales partners to make the presentations their own. Radiant has invested in several different lead sources and marketing strategies. It’s with this in mind that we’ve developed our scripts on a lead centric basis. So, based on the marketing strategy a Sales Partner chooses he or she will receive scripting based on the lead type associated with that particular marketing Strategy. As a Radiant sales partner you will also receive specific 1on1 training based on the marketing plan or strategy they choose.

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Here is a Great Example of a Marketing Campaign and Matching Script [New campaigns are available]

 

Ringless Voicemail Recorded Message Left on Merchants Cell Phones –

 

Hello, this is a courtesy public service message form the Merchant Association.

Your business has been included in a class action lawsuit settlement. Our records indicate that your business accepted credit cards between January 2004 and January 2019.  As a result, you are entitled to a portion of the 5.4 Billion Dollar Class Action Settlement owed by Visa and Mastercard. However, merchants must take action to participate in this class action to receive compensation.  Claims will be filed on a first come first served basis. To file your claim, please call Merchant Support at (888) 959-4432 Ext 9.

Or visit www.VisaClassActionLawsuit.com for more information

 

 

Example: Inbound “Merchant Settlement Script”

Ringless Voicemail Script –

 

Merchant Support how may I help you…

 

[Merchant – I’m calling about a message I received about a settlement]

 

Can I have the full spelling of your First and Last name?

 

___________, I need to inform you that this call is being recorded for case evaluation and training purposes.

 

___________, I’m going ask you a series of questions to help determine the eligibility of your claim in the Merchants VS Visa/MC 5.4 Billion Dollar Settlement.

 

Start filling out MPA – [Make sure you ask the questions like your qualifying them for making a Claim]

 

  • What is the full legal name of your business?  Is it an LLC or Corp?

  • What Year was your Business Established?

  • So, you did accept credit cards from _Yr. Est._ to January 2019? Excellent!

  • During that time frame, what was your Average Monthly Processing Volume.

  • And what would say your average total monthly fees are? Hmmm that seems a bit excessive…

  • Is, that including an equipment cost or is that just your processing fees?

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OK, everything looks good so far,

  • What’s the physical address of __Company Name___?

  •  Is __Address__ a retail or a commercial location?

  • How many Years has __Company Name__ been located there?

  • Have you ever had a Merchant Account Force Closed?

  • Have you ever been accused of Credit Card Fraud or Embezzlement?

 

 

___________, based on the information you provided, it’s evident you were a victim of being charged Excessive Interchange Fees, and it looks like you’ll have a strong case to make a claim. However, as part of the Settlement I must also inform you of your right to receive Discounted Interchange Fees moving forward.

 

So, in addition to recovering the Excessive Interchange Fees, there are 2 different discounted processing fee structures to choose from.

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First is the Wholesale model which will cut your current processing fees by 50%. Second is the Smart-Pay Model that eliminates your processing fees completely.

So, the question is, do you want to cut your fees in half or eliminate them all together?

Smart-Pay – The Smart-Pay program is where Visa/MC pass-through there fee directly to the card holder on each transaction. This way the Merchant is no longer paying Visa/MC’s fees and your customers are free to use their favorite reward cards, but no longer at your expense.

 

Wholesale – The Wholesale program was originally designed for future-500 companies that process over a Million dollars a month. However, thanks to the Class Action Lawsuit it’s available to everyone. The rates on this program are so low, most Merchants save more than 50%.

 

___________, from here does the 50% or 100% savings plan suit your business best? 

 

OK, I’m going gather the information we need to process your claim and at a minimum cut your fees in half. But before I do, I need to get a better idea of the way your accepting credit cards and the equipment you’re using.

 

[Equipment Disqualification Process] Much easier now that Radiant no longer leases terminals.

 

  • ____________, is the card and card holder always present at the time a transaction?

  • Do you take the card from the customer, or does your customer run the card?

  • Are you processing with a traditional Terminal and Pin Pad or with a POS system?

  • What is the Name Brand on the Terminal/POS?

  • Do you know if it’s EMV & PCI certified equipment?

  • What year did you get your Terminal/POS?

 

_________, unfortunately, your equipment has reach what we call, end-of-life and in order to become EMV & PCI compliant, it will need to be replaced.

 

The Good News is a new compliant terminal/POS is only $99/$110 a month, but only if your savings is at least $200 month above the cost of the new equipment or it’s free. In other words, Visa/MC says, you have to save at least $300 a month or your new equipment is free.

 

[50%] So, looks like in your situation, the 50% savings plan saves you $300.00 a month, so your new equipment will be $99/Free. Congratulations…

 

[100%] So, looks like in your situation, the 100% savings plan saves you $800.00 a month, so your new equipment will only be $99. So, you’ll have a flat rate of $99 a month, no matter how much you process. Congratulations…

 

___________, We’re required by Visa/MC to put everything in writing for you.

[Finish MPA]

 

  • So, is this your cell # or office # you called in on?

  • Ok, what is your office/cell #?

  • What is the name of Website?

  • What is the best email for you?

  • Do you want your monthly statements mailed or emailed?

  • What is the Businesses EIN #?

  • How would you describe your products and services?

  • And you’re not a seasonal business, right?

  • ________, what would you say your average Ticket is?

  • What would be your high ticket or Transaction?

  • You stated earlier that your average monthly volume is $00,000.00

  • What would be your Highest Monthly Volume?

  • ________, you are a 100% owner?

  • What Bank do you want your deposits to go into?

  • OK, what is your Routing and Account #?

  • And what is your residential address?

  • What is your DOB?

  • And your Social Security #?

 

MPA-Lease DocuSign Closing Sequence:

 

_________, just to verify I have your email as ________@____, correct?

 

I’m emailing you everything in writing as promised for you authorization.

  • The email should come from DocuSign, please let know once you have received it…

  • Ok, now just click on the Continue button and it will create a Yellow Finish button,

  • Once you have click on the yellow button it should take you to a spot for your electronics initials.

  • As you initial the first page, please read threw it and verify its accuracy, then click on the next button…

  • Page 2 is just confirming the Wholesale / Smart-Pay fee schedule we spoke of earlier, just click on the signature box and type in your signature, and again for your printed name, then click on the next button.

  • Page 3 is our Bank Disclosure page, basically your agreeing that you want knowingly commit credit card fraud. Go ahead and click to agree and then click the Next button.

  • On page 4 you will see the $99 a month for upgraded equipment, again this is the only fee you will have moving forward. Please click to agree, and todays date should automatically populate, do you see that?

  • On page 5 please just confirm that all of your information is accurate, and click to initial, in the bottom right hand corner, then click on the next button.

  • Please initial pages 6 and 7 and then click on Yellow finish button the very bottom of the page.

 

 From there it’s going to ask you to download a copy if you would like, but you should receive a copy in your email.

So, we are done with that, all I need now is a copy of your DL & Voided Check.

Can you put me on hold and take a picture of each one and text them to me, let me know when you’re ready for my cell phone #?     Ok, I received both of your text, Thank you…

 

Call Rap-Up - 

 

__________, from here I will be submitting your Settlement Claim and setting your New Merchant Account, so please be on the lookout for additional welcome emails.

 

When we hang-up, I’m going to email you a confirmation of our conversation, so you will have all of my contact information… And as always don’t hesitate to give me a call…

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Steps to Handling Objections -

 

  1. Diffuser – “A Statement that softens a Question”

  • I’m really glad you brought that up,

  • That’s a really good question,

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   2. Power Phrase – “A powerful is an answer to a question that potentially reframes it into a benefit.”

  • That’s one of the major benefits of working with Radiant, we can refinance your MCA and get you the extra cash you,

  • Feel-Felt-Found – I understand how you feel, we’ve had other merchants the felt the same, but what they found was…

 

   3. Gear Changer – “A sub-phrase stated to redirect a conversation.”

  • By the way,

  • I should check with you,

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   4. Ask a Question – “It’s imperative to Ask A Question, to take back control of the conversation.”

 

 

Example:

Pizzeria Merchant: Every time we switch processors our fees go up; I don’t want my fees to go up!

Salesperson: John, I’m really glad you brought that up, Radiant’s Wholesale Program for Pizzeria’s will cut you fees by 50%, by the way is there more than 1 location for Slice of Pizza? [Immediately ask the next question from the Merchant application]

 

 

6 Most Common Ringless Voicemail Objection Handlers - 

 

Q – I don’t have Time/ I’m Busy [Rare with inbound calls] 

 

A- I understand it sounds like your busy and to be respectful of our time, I’d like to suggest we schedule a professional phone appointment together for about 5 minutes, or do you have time now? (Use Call Back Sequence)

 

Q - Where did you get my information?

 

A1 - It’s our marketing departments job to help identify potential businesses that have highest probability for making a claim and saving money. We have been able to save businesses like yours, thousands of dollars a year…

ASK A QUESTION

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Q - I just Switch to another Processor

 

A – Excellent so you were able to find enough value in a new merchant services provider to make a switch? Since it was so recent, if we can demonstrate enough additional value then you consider switching again, right?    

-ASK A QUESTION

 

Q- I’m happy with my Bank/Merchant Company

 

A – I understand, as a directly endorsed ISO we’re held to the same high standards as Banks and Credit Unions. However, we are not handcuffed by banking regulations which allows us to provide you with True Wholesale Pricing. -ASK A QUESTION

 

Q - What about my early cancelation fee?

 

A – I’m glad you brought that up, once your new account is set up, it with trigger my backend team to draft a cancelation letter on your behalf and we customarily will pay your ETF once you have processed for 1 full calendar month.   

 -ASK A QUESTION

 

Q – What about my old lease?

 

 A – There is nothing anyone can do about your old lease, but the good news is, your savings is so significant you’ll offset some the cost of your old equipment…   ASK A QUESTION

 

A1 – It sounds like what you’re saying is, you don’t want your monthly fees to go up, right? The good news is, we are required by Visa & MC to save you at least $200 above the cost of new equipment or the equipment is free. So, let’s see how much we can save you. [Calculate Savings then Assume the Sale]

 

Q – I don’t want another lease [ask buyout questions]

 

A – It sounds like what your saving is you just want to be assured that your monthly fees are not going to up, right?

 

The good news is, it’s our companies’ policy Not to allow our merchants into multiple leases.

 [Ask lease buy-out questions, if we can’t buy-out the lease the equipment is free]

-ASK A QUESTION

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Q – Can you just send me something, so I can review?

 

A – Yes of course, we customarily send out information. However, why’ll we are on the phone I’m here to answer all of questions.  In fact, I have a list of questions to help determine the best information to send you based on your specific answers. -ASK A QUESTION 

 

A1 – Yes of course, but outside of our customary company information like were a directly endorse Visa/MC approved ISO, what did you want to know?

 

Q- How will I know how much I’m going to get?

A- It will be determined with a number of factors, like the total numbers of years you processed between 2004 and 2019. Also, the actual total amount processed during that time period. The good news is, we’re talking about a 5.5-Billion-Dollar Settlement, so the first step is for us to submit your claim, because everything is being done on a first come first serve basis. – ask a question

 

Q- What is the deadline for filing my claim?

  • Everything is being done on a first come first serve basis, so the sooner we get you claim in the better. – ask a question

 

Q- What is the Case all About?

 

A court case about unfair business practices related to Interchange fees was Settled between a group of Merchants on one side and Visa/MasterCard/Issuing Banks on the other side.

 

Interchange is the fee collected by banks every time a Merchant accepts payment from a customer using a card. We don’t have to tell you how high these have gotten.

 

Finally, Merchants cried FOUL – the lack of competition meant steadily rising fees and no alternatives until now.  Now Merchants finally have an option to choose between, Wholesale and Cash Discount processing which allows Merchants to cut fees by 50% to 100%. Additionally, both parties agreed to settle for 5.54 Billion. 

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Q- How does the process work?

_____________, you basically have 3 options;

 

Option 1: I’m required to tell you legally you don’t have to do anything, but of course you will receive noting in return.

 

Option 2: is you can file on your own, you just have to educate yourself on the Proper Procedures, Filings, Negotiation Process and of course be constantly available so you don’t miss any deadlines or mandatory responses.

 

Option 3: is we will refer your case to Brownstone Recovery to be retained on a contingency basis. Brownstone Recovery specializes in Large Class Action Settlements, in fact it’s all they do. The best part is they only get paid if they recover fees for you, so it’s in everyone’s best interest for Brownstone to negotiate the biggest settlement possible. -Ask a question

 

Important Statement of Facts:

Friday December 13th, 2019 Judge Brodie of the U.S. District Court in Brooklyn, NY granted Merchants final approval of the 5.4 Billion Dollar “Merchants Verses Visa/MasterCard Interchange Fee Settlement”.

 

Businesses Accepting Credit Cards during January 1st, 2004 and January 25th, 2019 are entitled to receive a Cash Settlement and Future Discounted processing fees; however, you must take action in to receive compensation.

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Lease Terminal Benefits:

  • I A Leased Terminal comes with Swap Out Insurance, if for any reason your terminal goes down, we will ship you a new one next day air! (If the law changes again or the software needs to be up to date to stay compliant, we will swap out your current terminal for free no questions asked!)

  • Your terminal comes with 100k in addition PCI-EMV insurance; This will safeguard you and your customers against any credit card fraud or identity theft!

  • Since 90% of all credit cards are Pin enabled, we have programmed our Pin Pads to automatically que to ask for your customer to enter their PIN. It was proven by Walmart, that when customers pre-prompted will enter the PIN 87% of the time; this can literally cut your bill in half alone!

  • Leased terminal cost are 100% tax deductible!

 

This concludes the Basics for Selling Merchants. Please note this course is not intended to teach you how sell, but rather give you an example on how to sell Merchant Services. We hire you because you already know how to sell.

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