the card payments industry is often a two-edged sword: potentially a
financially rewarding endeavor, yet often difficult for the sales
professional new to an unfamiliar industry. This program is designed to
assist both new and seasoned veterans attain true financial success by
employing a simple and effective sales process.
Payment processing statements are monthly recaps of merchant
sales activities tied to credit card purchases that provide important
data for the business owner. The ‘processing statement’ shows important
data such as sales activity, deposits into the merchants bank account,
charge back occurrences, and processing fees.
Understanding payment processing statements (PPS) is a key
skill set sales professionals in the payment industry must eventually
master. This section will provide you a strong introduction to ‘making
sense’ of a merchants ‘statements’. We will break a statement down into
it’s four constituent parts and take our first look at specific
WHERE CAN I FIND ADDITIONAL HELP?
Only so much can be gleaned from one chapter. Where can you go
if you have additional questions regarding payment processing
statements? We conclude this chapter with several recommendations, as
well as outlining a process designed to assist you in growing your
‘statement analysis’ capabilities. Demystifying statements is a huge
key to becoming a pro.
vocabulary of truth and simplicity will be of service throughout your
- Winston Churchill
Making a point
Earlier there were three questions we discussed that the sales
facilitator must be prepared to answer. They were:
- ‘Middle Man’ - PROVE the merchant processes through
other than the bank.
- Example: “Your bank is Eagle City Bank, yet the
processor is ABC Services. It shows you here on the
- ‘Unnecessary costs’ - PROVE the merchant is paying
even unnecessary) fees.
- Example: “You are being charged double per sale -
a per item fee and a transaction fee. It shows you here on
- ‘Support’ - PROVE your value in the eyes of the
and educate them on their own statement.
- Example: “What does this mean? (Point to an item
on the statement). That is a PCI fee that can be eliminated
when you switch and I can help.”
Although this will be addressed in more detail in section 3,
this is a
terrific opportunity to touch on the value of such questions and how we
can best address them statements
1: I’m processing through my bank.
Answer: According to your statement you can see that it isn’t actually
your bank, but another company. A middle man as it were.
2: No one can beat my rates.
Answer: According to your statement you have fairly good rates compared
with others who deal with this that company. They aren’t the best out
there. Our program is a direct program.
Question 3: How can you save me money?
Answer: According to your statement you are paying too much on
transactions swiped through your terminal – specifically debit cards.
Plus your transaction fees are high. Here is a side-by-side comparison
showing where we can assist you.
4: Why is it so important to have a local
Answer: Let’s put it this way. If you have questions currently you must
call an 800 number and deal with a different person each instance. I
want to be your agent. As such, if you have questions you have a local
resource. You wouldn’t deal with a bank without having a banker
Becoming a ‘Statement Specialist’
The best sales facilitators understand the value of . . .