Cardline Online Cites Henry Helgeson of Merchant Warehouse

On November 28th, 2008, Cardline online cites Merchant Warehouse President & Co-CEO, Henry Helgeson, as he addresses the enhanced scrutiny merchants will receive due to the struggling economy.

The article, titled “Ailing Economy has ISOs Examining Merchants More Closely,” discusses how the slowing economy is leading many independent sales organizations (ISOs) to re-evaluate their Underwriting guidelines, and to thoroughly evaluate both new and existing merchants regarding their credit card transactions and the way in which they conduct business. Since so much risk is assumed by the ISOs who service these merchants and their incomes depend on them, ISOs are taking precautionary measures to ensure they are protected. Should consumer spending decrease significantly enough that a merchant go out of business, the ISO not only faces losing that merchant’s business, but also any chargebacks from their customers. Bottom line, Helgeson suggests that ISOs be weary of any business offering future-delivery of products since they typically come with the most risk.

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