3 simple things

Dorsey's Square hit by 15% stock drop after results

SAN FRANCISCO — Shares of Square plunged as much as 15% Friday after the mobile payments provider announced a larger-than-expected quarterly loss on Thursday.

The San Francisco-based company, co-founded and run by Twitter co-founder Jack Dorsey, on Thursday reported an adjusted first-quarter loss of 14 cents per share on adjusted revenue of $146 million. (Total net revenue including sales from a Starbucks deal it's in the process of unwinding was $379 million, up 51% from a year earlier, while its net loss was 29 cents.)

Analysts polled by S&P Global Market Intelligence expected a loss of 9 cents a share on $136 million in sales.

The wider-than-expected loss, on soaring operating costs, sent Square's stock reeling more than 15%, to $10.97 in Friday trading.

Read whole article here.

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They float a few reasons for Square's woes, but they don't mention this one:

That's because they haven't heard about us yet!

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HOLY MOLY GUACAMOLE!!!  Talk about state of the tech art, check out what's coming to our industry in the way of SECURITY:

‘Selfie Pay’ Is On Its Way

May 02, 2016

by Beth Duff 

 

erification of online payments is about to go a whole new route. In February, MasterCard^® launched “selfie pay” as an upgrade to online payment security.
Offered as an alternative to the credit card network’s current security measures that require users to enter a PIN code, password or verification code when completing their purchases, “selfie pay” was tested last year through First Tech Federal Credit Union in California. Equipped with the MasterCard Identity Check mobile app, cardholders used biometric payment authentication (either facial recognition or fingerprint matching) to verify the authenticity of donations they made online to Children’s Miracle Network Hospitals.

The process is simple. Cardholders download the Identity Check app to a phone, computer or tablet, and make an online or mobile purchase on that device. If a participating merchant asks for further identity verification before the purchase is approved, the user simply holds the device up to get a clear view of their face and blinks so that MasterCard knows they’re not trying to scam it with a bogus picture. Camera-shy folks have the option of holding their finger up to a fingerprint sensor.

Participants in the pilot trial were later surveyed for their opinions about the technology and how easy it was to use. Eighty-eight percent found it overwhelmingly easy to use on its own, and 86 percent indicated that it was easier than password-based authentication. An impressive nine out of ten said they could see themselves using it on a daily basis.

 “People forget passwords, making the payment process (unnecessarily) long and complex, so we expect that passwords will slowly become obsolete in favor of a more user-friendly alternative, such as biometric identification.”


MasterCard has announced that it will bring the “selfie pay” system to the U.S., Canada, United Kingdom and other European countries this year. Visa^® is also exploring biometrics-secured payment options, including iris and contactless fingerprint recognition, as well as ATM technology that allows cardholders to unlock funds with a fingerprint instead of a PIN.


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Of course, that won't change what we do, but it should bring up speed and efficiency levels and make everybody happy!

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What are the THREE core activities for a DW Agent?

1. Meeting a Business Owner for the First Time
2. Obtaining a new Processing Statement or Filling out CR Questionnaire
3. Presenting a Cost Analysis for the First Time or Scheduling a CR Discovery Call

EasyPeasySmooth&Breezy!

FOCUS on doing these 3 things and your income -- both fast start and residual -- will soar!!

From the Fresno Bee today, 4-28-16:

April 27, 2016 9:20 AM

Tech transition makes retail payments a confusing mess

Swipe your credit card or insert it in a slot?
Can you find a merchant that takes Apple Pay or Android Pay?

Out of the 1.2 billion payment cards in use in the United States, about half of them now are chip cards, according to the Electronic Transactions Association, which is the payment industry’s trade group. Francine Orr Los Angeles Times file

Read more here: http://www.fresnobee.com/news/business/technology/article74185967.html#storylink=cpy

You’ve got to remember to not pull out your card before the process is done for fear that the payment terminal might beep at you or a clerk might yell at you, or both.

And if you’re savvy enough to have Apple Pay or Android Pay set up on your phone, good luck finding a merchant that accepts either. Heck, you may even have a tough time finding a merchant that knows about either one.

In terms of how to pay or which way you can pay, “you don’t really know what to expect when you go into a store,” said Jordan McKee, a senior analyst who covers the payments industry for 451 Research, a tech industry consulting firm. “It’s an absolute mess.”
(Read article here.) 

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YOU GUYS HAVE YOUR WORK CUT OUT by getting merchants into 2016 (see above) -- let alone telling relevant merchants about Zero Cost Credit (see below) AND the fantastic DW Audits for businesses (also see below)! 

We should all be doing this full time like our hair's on fire!

Who'll be first?

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ZCC -- (great video in your DW interface) -- plus a few items here...

• Zero-Cost Credit^™ Accept Credit Cards For 0%

  For All Merchants

• Pass on your full cost when consumers choose credit cards
• Receive 100% of the amount of your sale
• Pay only for the debit cards you accept
• 
  

THE RULES HAVE CHANGED

New rules allow merchants to add a fee for the use of credit cards. Merchants are not permitted to add a fee to debit cards.

Our patent-pending technology ensures regulatory compliance by determining whether a given card is a credit card or a debit card before the transaction is processed. Zero-Cost Credit automatically applies a fee whenever a credit card is swiped or entered so that you receive 100% of the amount of your sale.

Zero-Cost Credit increases consumer fairness.

Credit cards cost more to accept than cash or debit cards. Under the old rules, merchants were not able to add fees for the use of credit cards, so they passed on this cost to all customers.

When all customers bear the cost of credit cards, the average credit card user receives a subsidy of $1,133 each year from customers who choose cash or debit.¹

¹ Federal Reserve Bank of Boston, “Who Gains and Who Loses from Credit Card Payments?” Public Policy Discussion Paper No. 10-03, 2010.

Not suitable for all merchants, but great for some  categories including tow truck operators, electricians, plumbers, aviation services, as well as extremely beneficial for schools, government entities, tutoring services. 

(Not to mention this product has GREAT RESIDUAL for you!!)

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Great Audit call with Jim todaty -- notes tomorrow.  In the meantime check the DW Audits page here to view some industries you can help with an audit. Click on each link for info.

BUT WAIT -- THERE'S MORE!!

Your merchant wants to franchise himself?  YOU CAN HELP!

The undeniable worldwide success of franchises, is due to the enormous advantages it offers, consisting of a very stable model to expand a business and penetrate markets. It is also the safest and least risky way for an entrepreneur to own a business, making him the beneficiary of the synergies that franchising offers, that is, to be part of a regional, national or worldwide network. What is a Franchise? It is a strategy that allows for the penetration and domination of markets, that permits the owner of a trademark to reproduce the elaboration of goods and / or services that he has developed successfully, through the implementation of administrative and operative procedures, so that a third party that invests work and capital, can reproduce them in other markets with the same quality.

The main consideration so that a Franchisor requires the transfer of his know-how, is that he doesn't have enough capital to expand his business/trademark to other markets, and therefore requires of a third party (Franchisee) in order to achieve this. What is a Franchisor? It is an individual or company that possesses a certain trademark and marketing technology (know-how) of a product or service, who contractually cedes the rights and transfers the use of these, as well as committing himself to provide support and assistance in the organizational, managerial, administrative and marketing areas to the business of the franchisees. What is a Franchisee? It is an individual or company that contractually acquires the right to market a product or service within an exclusive market, utilizing the benefits that he gets by using a certain trademark, and the support he receives in the training and management of the business. Advantages for the Franchisor Strengthening and preservation of his trademark. Low investment in the expansion of his business. Better operative efficiency in the new units directly operated and supervised by the Franchisees. Increase in the coverage and development of markets. Charge of an initial fee for the rights to use a trademark (which allows him to recuperate in the medium term the investment made in the development of the franchise system). Charge of monthly royalties based on the gross sales of the products and services marketed through the awarded franchises. Advantages for the Franchisee Reduction in the risk and uncertainty factors by investing in a proven business format. Permanent innovation in the methodological and technological aspects of the business. Continuous support on the part of the Franchisor. Documented training based on the Operative Manuals. Access to administrative control systems and evaluation of the performance of his point of sale. Training in the productive processes of products and services. Sense of belonging to a consolidated network of franchises. Access to promotion and advertising programs. Increase in his personal prestige by getting involved in a successful business concept. If you require a professional with ample experience in the subject of franchises, contact us today!

Set up a Discovery Call for him today with our Franchise Specialists and let them handle the rest -- and YOU get paid.  Very well.

Yes, you're going to get used to this!

Read more here: http://www.fresnobee.com/news/business/technology/article74185967.html#storylink=cpy

Read more here: http://www.fresnobee.com/news/business/technology/article74185967.html#storylink=cpy

Big Pink Piggy Bank

Don't you enjoy playing with numbers and watching how they add up?.... especially when they're adding  geometrically instead of arithmetically. Everybody loves compound interest; well, compound effort is waaaay better!

This was a cute little calculator that I found -- it's figuring that each Agent brings $50   in processing fee volume to the company each month. It does not compute separate merchants --  it just says  agents are averaging each $50 worth of processing fees for the company in total. ...which is kind of a simple way to look at it. 

But if you have 100 percent duplication of the five who get five, the  income really heads up!  You can see it's definitely worth talking to people about; watch your Inbox for email today with different tools and ideas.

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What we're emailing prospective Agents (thanks, John!):

FIRST TIME IN HISTORY---

Get paid on Apple Pay, Google Wallet, PLUS!!

WATCH THE SHORT VIDEO HERE & GET YOUR PIGGY BANK STARTED!

Code:  MGLAMMON

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Why EMV Will Lead the Payments Security Transformation

JUN 8, 2015 5:35pm ET  Paymentsource.com

As October’s EMV liability shift quickly approaches, payments industry stakeholders are not just preparing for the considerable transition to chip card usage in the U.S. – they’re also laying the foundation for the future of payments, including mobile and other emerging payment technologies.

But while the chip infrastructure is expected to deliver significant benefits in the card present environment, card networks are also acutely aware of the additional avenues of risk opening up as fraudsters shift their focus to areas such as online spending.
Ellie Smith, who leads the Discover’s Chip Center of Excellence, sits on the EMF Steering Committee and holds a seat on the EMVCo Executive Committee, shares her thoughts on the ongoing U.S. EMV rollout, as well as what’s next in the future of payments security.

 Multi-channel payments and multi-channel security
As different payment channels emerge, brick and mortar merchants must ensure they continue to provide a seamless and secure payment experience – all while staying relevant with their consumers by providing a variety of payment options.
The current focus is on getting chip cards into the hands of consumers and educating merchants on its usage and the benefits of adoption. EMV is a strong pillar in cutting down fraud. While it is the cornerstone in the future of payments security, Smith stresses that the industry must “look beyond card-present transactions to securing all other channels of payments.”

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HOW MUCH CAN I MAKE?

Your Tip of the Day from EPI's Mike Nardy:

When it comes to underwriting, knowing a signor’s tax ID classification is important. Bank regulations do not permit non-U.S. citizens to hold a merchant account, even though Federal and State Laws allow non-citizens to own a business. While both SSNs and ITINs follow the same format - 9 digits broken into 3 groups, xxx-xx-xxx - there is a clear distinction between the two. ITINs begin with the number 9. This only applies to ITINs. Employer Identification Numbers (EIN) can also begin with the number 9 , but follow a different format: xx-xxxxxxx.

When completing a merchant application, make sure the merchant does not provide a personal tax ID number that identifies them as a non-citizen. This presents an opportunity to look further into the merchant’s eligibility before moving forward and/or possibly walking away from the deal. It’s possible that the merchant is accustomed to providing their ITIN even though they established citizenship and have a valid SSN. If this is not the case, you can ask if they have any partners with citizenship.

Mike Nardy

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Your Happiness Tip of the Day:

HAPPINESS

Every morning send a friend, family member or co-worker an email to say thanks for something.

Might sound silly but it’s actually excellent advice on how to make your life better.

There’s tons and tons and tons of research showing that over time, this alone – one silly email a day – can make you happier.

Via Harvard professor Shawn Achor’s The Happiness Advantage:

This is why I often ask managers to write an e-mail of praise or thanks to a friend, family member, or colleague each morning before they start their day’s work—not just because it contributes to their own happiness, but because it very literally cements a relationship.

And in our case, THANK A MERCHANT!

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How To Sell Credit Card Processing and Make over $100k A Year

Published 06/21/2012 by a competing ISO
 
We have many people apply to sell credit card processing with us every day.  The top question they ask is:  How much can I make in this position?  The answer is a difficult one - because at the end of the day their income is based upon how hard they work.  It inevitably leads them to ask how much earning potential there is.  The short answer:  Our top sales reps make over $100k a year.  Below is a brief explanation of how they do it.

Every time one of our agents signs on a new client they earn up to $100 just for signing the deal.   This is a great way to put some money in their pocket right away - but it pales in comparison to where the real money is made when you sell credit card processing - RESIDUALS.

What are residuals?  Every time one of our clients runs a credit card through their merchant account we make a percentage of the sale.  (This may be anywhere from a few pennies to a few dollars.)  This is paid to us for as long as the client is processing credit cards with us.  The  sales rep who brought the client to us earns up to a 30% split of this income. So EVERY TIME the business swipes a credit card our sales representative is making money.  This is residual income.

How could a few pennies or dollars possibly add up to a $100,000 a year income?  If our rep brings 15 clients to us every month (less than 4 a week) at an average profit of $50 per client per month to the rep they are increasing their MONTHLY INCOME by $750.  After 12 months of hard work they have increased their monthly income to $9,000.  This is the equivalent of $108,000 a year!  Now imagine if you put in that type of hard work for a few years?  We like to say that it is totally possible to make a million dollars when you sell credit card processing -  you just have to do it $50 at a time!

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The above article is about earning from gathering merchants ONLY.  Imagine the residual accruing to you when you get paid on

1. bringing in other Agents who
2. bring in other Agents who all
3. gather a few merchants!

$100 K sounds good -- but we KNOW DWP incomes as we grow this company will be 10x magnitudes of that!!

But in both cases, you do it $50 or $100 at a time.

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