Month: November 2025

The Experiment: The Missing Post

Today, I ran a little experiment. I intentionally did not send the blog post out at the usual time.

Why? To see who would notice, and more importantly, how long it would take.

As of 10:03 AM Central, I’ve received:

• 1 phone call
• 2 text messages

That’s only three people out of our entire list who recognized a deviation from the established routine and reached out to ask about it.

WWYD Scenario: What Are You Missing?

Normally, Wednesdays are reserved for our “What Would You Do” (WWYD) scenarios. Today’s scenario is less about a tough close and more about a fundamental principle that applies to everything we do: Attention to Detail.

This blog post is silly, yes, but the work we do out in the field is anything but. It’s important. It requires us to be expert intelligence gatherers.

Missing the small details can cost us big money. Let’s look at the kinds of details we should be tracking:

In Your Portfolio & Pipeline

• Are Your Merchants Still Processing? I make it a point to track this every other Monday or on Sunday evenings. Don’t wait until the residual check hits (or doesn’t) to notice they’ve gone dark.
• When was the last time you checked in? A lack of processing volume is a warning sign that your competitor may be in the building.

In the Wild (Everyday Observation)

When you are out and about, are you actively scouting?

• POS System Check: When you’re out to dinner, do you clock what POS system is being used? I do. It’s become a running joke with my wife—she’ll ask, “What system are they using?” before we even sit down or get back in the car. It’s almost unconscious now. This should be you!
• Service Flow: Do you notice if the waitstaff is using a modern tablet, or walking back and forth to a terminal?
• Kitchen Setup: Do you notice a missing kitchen printer? Is everything handwritten?
• Body Language: Do you pay attention to your prospects’ body language during a pitch? Are they leaning in? Checking their watch?

Specialized Observation

• Mobile Services: How are specialized businesses taking payments?
  • How do wrecker services take your card?
  • Are they calling the payment in?
  • Are they using a clunky, old-school wireless terminal?

The Takeaway

The same lack of detail that kept you from noticing a missing 6:00 AM email is the same lack of detail that will cause you to:

1. Miss a critical red flag on a merchant’s statement.
2. Overlook a key operational pain point that your solution could fix.
3. Fail to notice a competitor’s new terminal being installed in your top restaurant account.
4. Drive right past a prime prospecting opportunity that has a terrible, outdated POS system.

Our success is in the minutiae. Train yourself to see the details, not just the big picture. Start with your inbox, and then apply that razor-sharp focus to the field.

Pay attention. It pays.

Happy Selling,

David

I’ve seen several posts on this on LinkedIn , Facebook groups already in the last couple of days, and I admit after reading this my brain felt like a squirrel trying to do calculus.

It’s a massive SEC filing, and it’s dense. But after digging i, (also letting an attorney friend read and explain it to me) I realized this isn’t just noise—it’s a seismic shock to our industry, and it’s almost entirely in the merchant’s favor.

We all know the common objections. “Rates only ever go up.” “I’m tired of complex rules.” “I feel like I have no control.”

Well, this settlement gives you a direct answer to every single one of them. It’s a powerful new story for you to tell.

So, How Did We Get Here? (The Backstory)

This didn’t just happen overnight. This is the result of a legal battle that has been raging for decades.

• The Fight Started in 2005: The first class-action complaint was filed way back on June 22, 2005.
• It Became a Massive Lawsuit: That case was eventually consolidated with several others into a giant case in New York, which you’ve probably heard of: In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation.
• There Was an Earlier Settlement: You might even remember a big settlement that was reached back in 2012. However, that one was thrown out by an appeals court in 2016, and the fight started all over again.
• This Is the “Rules” Part: This specific settlement is the result of years of negotiations, mediations, and the prospect of even more litigation. It specifically settles the merchants’ claims for “injunctive relief”—which is just a fancy legal term for changing the rules of card acceptance, rather than just getting a cash payout.

Now, after all that fighting, here’s what the merchants finally won.

What’s in the Settlement? (The “What”)

This SEC filing outlines a massive class-action settlement between Visa/Mastercard and a class of merchants. While it’s not final until the court approves it (which the document expects in late 2026 or early 2027), these are the changes coming to our industry:

1. Interchange Rate Reduction: You read that right. The networks have agreed to a 10 basis point (0.10%) reduction in the average systemwide effective interchange rate on U.S.-issued consumer and commercial credit transactions.
2. A Five-Year Rate Cap: That interchange reduction will be locked in and serve as a cap for five years.
3. Simplified Surcharging: The complex, scary rules around surcharging are being replaced with a “simplified approach” that gives merchants “more optionality”. This includes the ability to surcharge at either the “Brand Level” (e.g., all Visa cards) or the “Product Level” (e.g., just Visa Signature cards).
4. More Acceptance Flexibility: The old “Honor All Cards” rule is being relaxed. Merchants will get new flexibility to independently choose whether to accept consumer credit vs. commercial credit cards, and even “standard” vs. “premium” rewards consumer cards.

How This Benefits Our Merchants

This is the “what’s in it for me” that our clients want to know. This settlement hands them direct, tangible value. (If, and when it happens)

• Direct, Hard-Dollar Savings: The 10-basis-point drop is a direct reduction in their underlying cost, straight from the card brands themselves.
• Unprecedented Predictability: The 5-year rate cap is huge. For the first time, merchants can actually budget for their processing costs without fearing the constant, creeping interchange hikes from Visa and Mastercard. I’m sure ISO’s will find creative ways to get this money back.
• Surcharging/ Dual pricing is No Longer a Headache: For every merchant who has been too intimidated to start a surcharge/ dual pricing program, this is your opener. “The rules are about to get much simpler, allowing you to easily offset your processing costs. Let me show you how to prepare for it.” I know it sounds much the same as we say now but If it works Don’t try and fix it.
• They Finally Get Control: While most merchants have no clue they pay more for commercial or rewards card they are no longer forced to accept a high-cost commercial or premium rewards card just to accept a regular card. They get to decide if that high-cost card is worth the sale.

How This Affects You and me.

This is where we shine. These changes move us from being “rate sellers” to “expert consultants,” which is exactly where we want to be.

• We Are Now the Experts: Merchants may be confused by this. The salesperson who can confidently and simply explain these new rules for surcharging and card acceptance is the one who will earn their trust—and their business.
• Surcharging/ dual pricing is a Massive Door-Opener: This is your new icebreaker. “Are you aware of the new, simplified surcharging rules coming from Visa and Mastercard? Let’s do a free analysis to see how much you could save by implementing a program.”
• Destroy the “Rates Only Go Up” Objection: This is your silver bullet. When a merchant says all processors are the same and fees just keep climbing, you can say: “Actually, we’re entering a new era. Visa and Mastercard are set to reduce interchange rates and cap them for five years. My job is to make sure you’re set up to get every cent of those savings.”
• The “Cost Control” Pitch: Your new pitch isn’t just about a low rate; it’s about cost control. You can now offer them a multi-pronged strategy:
  1. We’ll ensure you get the full benefit of the coming interchange reduction.
  2. We’ll analyze your transactions to see if it makes sense to use the new “acceptance flexibility” rules to decline costly card types.
  3. We’ll walk you through the new simple dual pricing or surcharging rules to help you offset your remaining costs.

This isn’t just an update; it’s a whole new playbook. Start familiarizing yourself with these changes now. The salespeople who master this message first will be the ones who dominate the market when these rules go live.

Source Document: You can read the full, (very) confusing SEC filing here: Source Document:

You can read the full SEC filing here: CLICK

Let’s get ready.

Happy Selling,

David

With Thanksgiving only a couple of weeks away, it’s that time of year when gratitude is top of mind—and not just for family, friends, and health. We in the sales world have our own unique set of things to be thankful for.

Personally, I’m unbelievably thankful for that first drink of Dr. pepper Zero in the morning that has just enough caffeine to get me through my first cold call of the day. It’s the little things, right?

But whether you’re prospecting in Turkey, Texas, or closing deals in Sandwich, Illinois, our industry gives us plenty of reasons to give thanks. So, I put together a list of the top 10 things every merchant services pro can be thankful for this season.

From The Home Office in Cranberry, Pennsylvania, Here are the

Top 10 Things a Merchant Services Pro is Thankful For

10. The “Easy-to-Read” Competitive Statement That glorious moment when you get a statement that isn’t 40 pages long, encrypted, or missing the effective rate. It’s clean, simple, and makes your savings analysis a breeze.

9. A Smooth Installation & Activation When the terminal arrives on time, the new POS system integrates flawlessly, and the batch settles perfectly the first time. No panicked “it’s not working!” calls from the merchant.

8. Quick Underwriting Approvals Submitting an application and getting that “Approved” email back in hours, not days. No extra stipulations, no “we need six more documents” requests. Just a clean approval that lets you keep the momentum going.

7. A Solid Referral Partner That banker, accountant, or B2B peer who understands your value and consistently sends you warm, qualified leads. They are an extension of your sales team, and they’re worth their weight in gold.

6. The “Yes” After Five “No’s” Sales is a numbers game. That “yes” feels good, but the “yes” that comes right after a string of rejections—the one that breaks the slump and proves your persistence—feels incredible.

5. A Strong Support Team Knowing you have a dedicated relationship manager, a savvy technical support agent, or an accessible sales director you can call when things get complicated. You aren’t alone, and that support helps you save deals.

4. The Client Who Actually Reads Their Emails The merchant who sees your update about a new product, a compliance change, or a software update and doesn’t call you six months later complaining they never knew.

3. Technology That Just Works A reliable gateway with no downtime. A smart terminal that’s intuitive. A virtual terminal that’s fast. When the tech you sell is stable, your portfolio is stable.

2. The Long-Term, Loyal Client The business owner you signed 10 years ago. They’ve weathered recessions, they trust your advice, they send you referrals, and they never, ever pick up the phone when a competitor cold-calls them. They are the bedrock of your portfolio.

And the # 1 Thing a Merchant Services Pro is Thankful For is …

1. That Beautiful, Compounding, Lifetime Residual Stream This is it. The holy grail of merchant services. The direct reward for all the “no’s,” the bad statements, and the tough installations. It’s the “mailbox money” that builds every single month, representing the trust you’ve earned and the foundation of your entire business.

That’s the list! It’s a tough, grinding business, but the rewards—both personal and financial—are absolutely worth it. Take a moment this month to reflect on what you’re thankful for in your own sales journey.

Have a great weekend everyone.

David

Okay, so who else has noticed this “6-7 craze” that’s been going around the last few months? Maybe your kids or even your grandkids are doing it! It’s been everywhere, right?

If you’ve been on TikTok or Instagram Reels, you couldn’t escape the bizarre scenarios all ending with a cryptic “6-7.” It’s one of those fleeting internet things that’s here today, gone tomorrow.

It’s ironic, though. Because while “6-7” is just a random punchline on the internet, that exact number is the secret sauce for closing deals in the world of merchant services. For us, “6-7” isn’t a meme; it’s a methodology. It represents the number of follow-ups it often takes to turn a prospect into a partner.

My “1-2” Failure in a “6-7” World

I remember vividly back in my early days. I was a “1-2” salesperson. I’d make a great initial call (Touch #1). I’d send a thoughtful email right after (Touch #2). And then… I’d wait. If I didn’t hear back in a few days, I’d assume they weren’t interested and move on. My pipeline was a graveyard of “great first calls” that never went anywhere.

I was treating sales like a viral moment. I expected that one great interaction to be enough to spark a deal. I never got close to the 6th or 7th touchpoint, which, as I learned the hard way, is where the real trust is built and the deals are actually made.

The Revelation: The Real Power of 6-7

It took a mentor looking at my dismal closing rate to spell it out for me. “You’re giving up at the starting line,” he said. “The pros don’t even get warmed up until the fourth or fifth touch. The deals are won on follow-ups 6 and 7.”

He challenged me to stop chasing one-call closes and start building a real follow-up system designed to hit that magic number and beyond. Here’s what that system looks like in practice:

• Touch #1: The Initial Call/Meeting. This is your foot in the door. The discovery phase.
• Touch #2: The Immediate “Thank You” Text, Email. (Within an hour). Reiterate a key point and thank them for their time. Professionalism matters.
• Touch #3: The “Value Add” Follow-up. (24-48 hours later). Send them a relevant article, a case study, or an idea specific to their business. You’re a resource, not just a salesperson.
• Touch #4: The “Quick Check-in” Call. (3-5 days later). A low-pressure call. “Just circling back to see if any questions came up from our chat.”
• Touch #5: The “Problem Solver” Email/text (1 week later). Offer a deeper dive. “I was thinking about your concern with batch fees. I could run a specific analysis for you if you’d like.”
• Touch #6: The “Second Attempt” Call. (Week 2). You’re showing polite, professional persistence. You are not a pest; you are a partner trying to connect.
• Touch #7: The “Final Value” or “Breakup” text/Email. (Week 3). A final offer of help or a polite “closing the file for now” email. You’d be amazed how often this one gets a response.

Right there, that’s seven distinct, valuable touchpoints. That’s the zone where “maybe” turns into “let’s do this.”

Why the “6-7” Rule is Unbeatable

This isn’t just about being persistent; it’s about strategy. Merchant services is a major business decision, not an impulse buy.

• It Cuts Through the Noise: Your prospect is busy. The first call gets lost. The second email gets buried. By the 6th or 7th time they hear from you, you’ve proven you’re serious and have earned their attention.
• It Builds Familiarity and Trust: Each touchpoint is a chance to build rapport and demonstrate your expertise. By the time you hit that 7th follow-up, you’re not a cold caller anymore; you’re a familiar, credible professional.
• It Aligns With Their Timeline, Not Yours: You might have caught them at the wrong time initially. Your steady follow-up ensures you’re top-of-mind when their need becomes urgent.

So, while the “6-7” meme will fade away by next season, the principle behind it in our industry is timeless. Don’t be a one-hit-wonder salesperson. Embrace the real power of the 6-7 follow-up. It’s not a joke; it’s your roadmap to a closed deal.

What’s your go-to follow-up that helps you get to that magic number? Let me know in the comments.

Happy Selling,

David

Have you ever watched this happen?

You meet the new office manager in a building you service. They’re sharp, excited, and genuinely happy with their new role and the pay. You build a little rapport. Six months later, you stop by, and that energy is gone. They seem restless, maybe a little cynical. By nine months, they’re telling you they’re “keeping their options open.” Before the year is out, someone new is at the desk, and the cycle starts all over again.

I’ve seen this exact story play out for years. It’s not just office managers. It’s restaurant managers jumping ship for an extra $2,000 a year. It’s talented servers bouncing from one new “hot” restaurant to the next. I’ve even seen it with accountants and some commission-only sales folks who are, for all intents and purposes, still operating on a W-2 mindset.

They are all chasing the BBD: the Bigger Better Deal.

As a self-employed business owner, it’s a fascinating, and frankly, a foreign way to think. We watch these talented, capable people get stuck in a loop, always looking for someone else to give them a raise, a new title, or a slightly better benefits package.

What they’re doing is outsourcing their own value. They’re waiting for an employer to tell them what they’re worth. And when they get restless, their only solution is to find a new employer to give them a slightly different number.

They’re not betting on themselves. We are.

The Capped Ceiling of the “BBD”

The core of the W-2 mindset is the search for perceived security. The “BBD” is the only lever they feel they can pull to increase their income.

• They get a 3% cost-of-living raise and feel stuck.
• They get restless and start browsing LinkedIn.
• They find a new job that offers them a 7% bump to jump.
• They feel like they “won.”

But what did they win? A new boss, a new set of problems, and a new, slightly-higher-but-still-capped ceiling. The fundamental problem remains: their income is not tied to their direct performance; it’s tied to a line item in someone else’s budget.

This is why the excitement fades. The new-job shine wears off, and they realize they’re in the exact same position, just at a different desk.

The Entrepreneur’s Mindset: We Don’t Find the BBD, We Create It

As merchant services professional, as self-employed business owners, our entire world is different. You and I live by a different code.

We don’t look for a raise; we go out and make one.

• Want a “raise”? You don’t ask a manager. You go out and sign one or two new high-volume accounts.
• Feel restless? You don’t update your resume. You refine your sales process, build a new lead-gen funnel, or find a new strategic partner.
• Want “security”? You don’t hope for a stable company. You build a diversified and sticky residual portfolio that pays you month after month, year after year.

This is what it truly means to bet on yourself.

Your income isn’t capped by a manager’s budget. It’s capped only by your time, your strategy, and your willingness to hunt. When we feel that same restlessness our W-2 friends feel, it doesn’t manifest as “I need a new job.” It manifests as “I need to close a bigger deal.”

Why We Chose This Path

Sure, the W-2 world looks “safe.” A steady paycheck. Paid vacation. Health benefits.

But we see the trade-off. We see that “safety” is an illusion that costs them 100% of their upside. They’ve traded exponential potential for linear, predictable, and ultimately unfulfilling, growth.

We, on the other hand, embrace the risk because we want the reward.

• We eat what we kill.
• We own our losses and our wins.
• We are building equity—in our client book, in our business, in our brand.

Our W-2 friends are building someone else’s equity in exchange for a salary.

So, the next time you see a talented acquaintance jump ship for the third time in two years for a minor bump in pay, just nod. They’re playing a different game. They’re looking for the BBD.

You and I are busy building it.

What about you? When was the moment you realized you had to stop looking for a “BBD” and start building your own? Let me know in the comments.

Happy Selling,

David