Jeffrey Shavitz, Co-Founding Partner of Charge Card Systems, was named to The Green Sheet Advisory Board in April 2007, and has contributed many articles to The Green Sheet, the leading publication in the Payment Card Industry.
Charge Card Systems is also one of only 14 members on the 2010 First Data ISO Advisory Board. We have earned our reputation to be included in these select groups by doing what is right and delivering on our promises.
Charge Card Systems Profile as featured in The Green Sheet:
Charge Card Systems - Company Profile (originally published 2005)
Charge Card Systems - A Partner For Challenging Times (updated 2009)
Recently published CCS articles in The Green Sheet:
It pays to keep your customers happy – Jeffrey Shavitz (Mar 2011)
We all know it is more efficient and cost-effective to keep an old customer than it is to acquire a new one. But maintaining your current merchant portfolio requires effort; you need to cultivate relationships on a personal and professional basis, offer great service and find new ways to bring value to your partnerships.
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A phone card opportunity calls – Jeffrey Shavitz (February 2011)
The overwhelming majority of merchant level salespeople (MLSs) I speak with are focused on selling traditional merchant processing services. Given the competitive marketplace, it might be the right time to branch out.
We have heard of prepaid cards for years, but perhaps we do not fully understand the prepaid sphere's potential: how merchants use prepaid programs, the profitability opportunities and other features surrounding this growing business.
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CCS ePay: Robust gateway for e-commerce – product feature (January 2011)
National credit card processing and merchant services provider Charge Card Systems Inc. recently launched CCS ePay, a proprietary e-commerce gateway designed to enable retail and MO/TO merchants to process credit, debit, PIN debit and ACH check transactions securely online.
"From a standard perspective, it's a virtual terminal and a payment gateway," said Adam Moss, Vice President of Sales, National Sales Manager for CCS. "Someone can sit down at their desk, log onto a website and use it as a virtual terminal to process transactions.
"At the same time, merchants can link their websites to CCS ePay to create a payment platform for online order processing."
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Keys to driving merchant retention – by Jeffrey Shavitz (Dec 2010)
In our industry, there are four types of people: prospects, customers, loyal customers and former customers. Of course, we all strive for loyal customers, but doing so requires a deliberate, ongoing effort. We all know it's less expensive to keep an existing customer than it is to acquire a new one. What steps are you taking to reduce attrition in your portfolio?
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Where is our Industry Headed - Jeffrey Shavitz (November 2011)
Please note that I do not have a
Magic 8-Ball (actually all of my three children have one and it always says, "Ask again later," no matter how many times you shake it) to consult regarding our industry, but I do frequently get asked about the future of our business from salespeople already in the payments industry and others considering entering it.
Here's my simple answer, and then I'll elaborate on it in greater detail: I don't know. How's that for honesty? As an owner and manager of a company, I often receive this question at our staff meetings, and my employees are looking for a sound, smart response to this simple, yet incredibly difficult-to-answer question.
But I can offer tips that could help those wanting to enter or remain in our industry.
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Are Your Really A Salesperson - Jeffrey Shavitz (October 2010)
I have met scores of experienced and prospective salespeople who tell me they want to sell merchant services, but then two weeks after I sign them on, they call (embarrassed), asking if I have an administrative position open. It takes just a few weeks working as one of the feet on the street to comprehend what it means to be a salesperson: it's hard work and it's a skill; it's not luck. Great salespeople deserve to make lots and lots of money. And they do.
Whenever I'm approached by office personnel who wish to earn what top merchant level salespeople (MLSs) earn, I say, respectfully, that we are a sales organization supporting our sales partners. If they want to try sales, I encourage them to "go for it." I also offer them a trial period so they can return to their former duties if they do not like selling for a living. In 100 percent of the cases, the employees have returned to their office jobs.
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Respect Yourself, Elevate Our Profession: Quit Selling On Price - by Jeffrey Shavitz (Sept 2010)
If you sell a product or service that can be purchased almost anywhere from multiple vendors, you're selling a commodity. Such is the case for payment professionals endeavoring to sign and retain merchant accounts. And this poses significant, ongoing challenges.
I always find it amusing when I meet with a merchant who is processing less than $5,000 per month and is proud that he or she is such a smart businessperson for having changed processors three or four times within 24 months.
The merchant feels empowered for having negotiated a contract with no termination fee with each processor and reduced interchange-plus pricing from interchange plus 10 to interchange plus eight and now, finally, secured an amazing deal at interchange plus five basis points.
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Putting the Cold Call in it's Proper Place - by Jeffrey Shavitz (Aug 2010)
Strong Relationship Skill Obliterate Obstacles - by Jeffrey Shavitz (July 2010)
Just five to 10 years ago, the average small to midsize merchant - which many merchant level salespeople (MLSs) are targeting aggressively as their ideal market - had high rates, so developing a competitive and more efficient program for them was relatively easy.
In my experience, larger companies (whether public or private) have chief financial officers who study the effect of processing fees on their company's bottom line, making them a more difficult merchant base to convert.
Having worked with many CFOs and presidents of companies of all sizes, I've realized that interchange and related processing costs are now one of the top expenses and line items of concern to those running a company that accepts credit cards as a form of payment.
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Canada: An Untapped Marketplace - by Jeffrey Shavitz (June 2010)
For many years, merchant level salespeople (MLSs) made money upfront by leasing credit card terminals and then building up their residual streams over time. This practice has taken a full 180-degree turn, however. Free terminal offers have flooded the market, cutting into leasing income. And interchange rates are now public.
So what does an MLS do to counter this trend and return to earning residuals? Why not consider selling in other countries such as Canada? You may be surprised to learn that this market is very accessible and lacks the level of competition now existing in the United States.
Many U.S. companies are now opening branch or satellite offices in Canada and need new merchant accounts. By expanding their horizons, MLSs now have the ability to provide merchants with a turnkey solution for processing both in the United States and Canada.
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The Professional MLS Protocol - by Jeffrey Shavitz (May 2010)
As a long-time business owner looking for prospective sales partners, I have met and spoken with many merchant level salespeople (MLSs) with payments industry experience, many of whom are avid readers of The Green Sheet.
I have also spoken with numerous newbies on the verge of selling credit card processing for the first time; they've heard it's a lucrative career with residual income opportunity in an industry that will not be going away (at least we all hope this to be true).
With greater numbers of both experienced and inexperienced salespeople competing for merchant accounts, it's increasingly imperative to become a proficient professional versus just the credit card weekend warrior dabbling in our business. But how do agents go about attaining professional salesperson status?
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Grow Your Business By Branching Out - by Jeffrey Shavitz (April 2010)
Having had the opportunity to work with thousands of entrepreneurial merchant level salespeople (MLSs) during my career, I am now being asked more frequently by our sales partners how they can grow their businesses.
It's a pretty simple question. However, the answer is incredibly complex and, unfortunately, there isn't one correct answer.
If you're new to the payment card industry, you have chosen a fascinating field in which to be a sales professional. Education is important.
You must understand interchange, the Payment Card Industry Data Security Standard, POS terminal types and so forth. But beyond that, how do you grow your merchant applications from a few deals per month to 20 per month and more?
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Seven Rules For MLS Sales Success - by Jeffrey Shavitz (March 2010)
Many books and articles have been written about sales success - by authors much smarter than I. However, with such an avalanche of information available, I thought seven simple rules set forth specifically for ISOs and merchant level salespeople (MLSs) in the payments industry might prove helpful.
Although basic, these common-sense, yet powerful rules - if followed repeatedly - will become habits and contribute to your success.
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Selling and Giving To Specialized Markets - by Jeffrey Shavitz (February 2010)
Competition in our industry is fierce, as merchant level salespeople (MLSs) are competing for the same customer base. Why not differentiate yourself by cultivating specialized vertical markets through industry associations, buying groups and local chambers of commerce?
Payment professionals derive tremendous value from affiliations with special-interest groups, similar to the way they benefit from joining the Electronic Transactions Association or participating in regional acquirers associations.
It is possible to create a win-win program through which an association helps demonstrate the value of your merchant services while enjoying aggressive revenue-sharing for the merchant accounts you board.
Through just such a program, my colleagues and I have helped many associations increase membership during what has been the worst economic period since the Great Depression. And association endorsements have helped active MLSs receive warm leads, which have a high closing ratio.
It's amazing how much more powerful a phone call is to a merchant when you say we are the endorsed vendor to XYZ Association, and I want to describe a value-added merchant services program now being offered by your association," as opposed to using a random, cold-call pitch for credit card processing.
Top-down selling is powerful and results in exponential business growth. Why sell to only one merchant at a time when you can sell from the top down through your affiliations, which will enable you to meet hundreds, if not thousands, of merchants through endorsements?
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How To Grow Your Merchant Portfolio - by Jeffrey Shavitz (November 2009)
As one of the founders of Charge Card Systems Inc., my goal is to develop a company dedicated to nurturing and developing sales partners to realize a profitable future in the payments industry. As such, I am constantly asked by agents how they should go about growing their business.
Given the subjective nature of success - is it earning $5,000 or $50,000 per month? - ISOs and merchant level salespeople (MLSs) want to know why some agents become incredibly successful, while others seem to languish. Regardless of how agents define success, they want to know how to attain it.
Of course, hard work and following traditional, tried-and-true business philosophies are paramount to growing one's business, but I'm hoping this article will stimulate creative thinking on eight strategic initiatives that can be implemented to help scale and grow your portfolio.
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Tips for New Sales Executives - by Jeffrey Shavitz (October 2009)
While many sales executives who join ISOs have credit card sales experience, Charge Card Systems Inc. - like all ISOs - works with many individuals and organizations that are considered "newbies" to the payments industry.
At first, many new salespeople think our industry is quite simple - just lower the rate a few basis points and you have earned yourself a new merchant account.
However, if you want to become a seasoned sales professional, you have much to master - from the actual sales pitch to financial analysis and cost comparisons to understanding all types of equipment to ultimately closing the deal and handling the conversation.
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Hard-To-Place Merchant Accounts: An Untapped Opportunity - by Jeffrey Shavitz (June 2009)
The marketplace is changing daily for ISOs and merchant level salespeople (MLSs) as our industry grows increasingly competitive. And traditional neighborhood retailers are overwhelmed by salespeople offering to lower their already competitive interchange plus pricing programs with "interchange negative." (I write "interchange negative" sarcastically to illustrate my point that ISOs are now giving away pricing to earn new merchant accounts).
As for-profit companies, we deserve to earn money for our services, and I'm always shocked when the first question asked to a salesperson is, How many deals do you write monthly? Rather, the appropriate and much more relevant question is, How much money are you increasing your monthly residual by? After all, profit and earnings should be our mutual goal.
Opportunities still exist to earn a fair and significant residual income in our industry. However, given the current market conditions, I suggest salespeople targeting traditional merchant accounts consider devoting a portion of their time to prospecting hard-to-place or, as they're commonly known, high-risk merchants as well. These merchants cover a variety of industries: travel, debt collection, furniture, telemarketing, start-up, MO/TO, loan modification, adult, nutraceuticals and many others.
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CCS comments in The Green Sheet Advisory Board Articles:
Green Sheet Advisory Board - Positive Economic Signs and Actions
Green Sheet Advisory Board - The Best Moves of 2009
Green Sheet Advisory Board - Vertical Market Virtues
Green Sheet Advisory Board - Challenge Breeds Opportunity
Green Sheet Advisory Board - Whats Up In This Downturn?
Green Sheet Advisory Board - Payment Experts Weigh-In On Visa's IPO
Green Sheet Advisory Board - Unsettled Economic Times - Boon or Bust?
Green Sheet Advisory Board - Value-adds: Recipe For Success?
Green Sheet Advisory Board - Global Economy, Global Business?