Merchant Warehouse Appears in The Green Sheet
On October 27th, 2008, Merchant Warehouse President and Co-CEO, Henry Helgeson, appears in The Green Sheet to provide his expertise on the state and future of the payment processing industry, should the struggling economy impact it.
In the article titled “Rainy Day ISOs,” Helgeson addresses the possible trickle effect that the down economy could have on the payment card industry, from a slowdown in consumer spending and decline in credit card transactions, to an inflation of processing fees and residual income losses from merchant death or the decline of consumer spending.
In preparation for these potential circumstances, Henry warns merchant level sales people (MLSs) that they should expect stricter guidelines for account underwriting and tighther industry policies and thus, should scrutinize higher risk merchants.
He also suggests that ISOs and MLSs remain cautious with their merchant portfolios and set aside at least one month’s earnings to secure funds, in case there becomes a desperate need for funds for costly marketing strategies and other expenditures.
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