10 Things A Credit Card Processing Salesperson Will Tell You AND What You Should Hear Published in the July 2014 issue What a salesperson will tell you… what you should hear… “You’ll receive an easy-to-understand statement monthly…” You’ll receive something akin to the closing paperwork on a house. You’ll NEVER understand what it means, and just be grateful that any money ever shows up in your bank account. “I’ll be here to support you in any and every way possible!” You’ll never, ever hear from me again…and any emails sent will bounce back. I sold Cheezits to grocery stores; I’m probably going back. “I’ve been with the company for a short while, but I love it! I see myself here for a long time” This is my third job in as many months, I’ll most likely be gone when you get your first statement…AND the company 800 number is an endless tree, with no branches to the cube where my replacement sits. “Installing the credit card machine is super easy, and provides a ‘one stop’ place to capture your sales.” You’re a fool for even considering a stand-alone credit card machine. Do not pass go, go read a book on restaurant operation. Then go get yourself some sort of POS system. “We offer the most aggressive rates on credit cards. You’ll be very happy.” You usually won’t even remember the name of your provider, much less their rates. You’ll avoid challenging the numbers, because it’s a nightmare to review the statement of MOST companies. They need to charge you the maximum to make a nice profit, and 10 salespeople have come and gone since you signed. “We’re your bank! Of course we’ll take care of you!” They’ll stick you with a four-year contract, early termination of which requires your first born, your dog, and the kidney of your choice. “We’ll review your situation throughout our relationship. We want you to get the best rates possible.” It would be nice to get a call once in a while, and not feel like an old girlfriend… Really wise to invest time to look at your statements, just remember…it’s in YOUR best interests. “Here are some convenient stickers for your window.” What is this, 1989? Who doesn’t take credit cards? “What a nice place you have here, I’m bringing John for lunch!” Has trouble remembering your name, and might not even look at your file after 30 days. They won’t send anyone, or ever dine in your city…ever. “There are only a few instances where we might be forced to charge you any extra fees.” You’ll be billed for all sorts of “special issue” type credit cards, the charges will be hard to track and littered through your statement, and you’ll have no idea where to find the fees. Locating Bin Laden is comparatively easy. Morals •Credit cards are a necessity in a restaurant. In full-service, few guests really pay cash anymore. Even for tiny purchases, fast food and parking meters, credit cards are becoming the norm. Due your due diligence to understand your statement and retain a relationship with your processor. •Take a few moments a month to review your statement, and see where your overall rates are. You can never control WHAT cards are used in your food business, and turning away a particular one COULD mean losing business. •Other payment methods are in play more and more now…mobile-phone based payments, PayPal and even smarter, chip-linked credit cards. •Always figure out how to make it easy to take in your guests money…it’s just business.