Handling Rejection in Merchant Sales

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Learn How Successful Sales Agents Handle Merchant Sales Rejection

Part of being a sales agent in the payments industry is knowing what to say to potential clients to encourage them to reconsider their initial objection. When overcoming rejection, clients may dismiss a sales pitch with little interest, while others may be more open and receptive of what is being said. Objection is normal - here’s how to take it all in stride.


Dealing with Rejection

Effective salespeople possess qualities that allow them to excel in a dynamic environment. Top sales agents are able to stay committed to taking on the next challenge with confidence and ease; but that doesn’t mean the rejections won’t start to take their toll eventually. Even the most self-assured and patient salesperson may find themselves feeling discouraged after a series of rejections.

Figuring out how to manage rejection is a critical component to becoming a successful salesperson. It is important to develop a well thought-out sales strategy to cope with the excuses that may arise when speaking with a customer.

How to Turn "No" into "Yes"

The following responses can be used while you converse with a potential but hesitant or skeptical buyer who would benefit from the merchant services account you’re offering:

“I’m not interested.”

When a merchant states they are not interested without listening to the full sales pitch, it helps to end with a question that gets them thinking about why switching payment processors would benefit them. Reassure the client they will not be forced or tricked into a contract:

"The cost reductions we give our merchants are real. If we can lower your monthly costs while giving you more options and services, would that be a benefit to your business? You don’t have to commit right away, but at least let us review your most recent merchant statement and see what we can do for you."

“I’m currently in a contract.”

This statement can be a valid excuse, especially if the customer doesn’t realize there is a way to cancel their current merchant account. Make sure to mention this in your reply:

"Sometimes, you think you’re in a contract and you’re not, or there’s a way to get out of your contract sooner. I, along with the team of salespeople I work with, am trained to see if we can give you a return that will outweigh any termination fee."

“I’ve gotten many quotes before and no one has ever been able to match my current offer.”

Figuring out how to handle rejection in merchant sales is not just about having a quick comeback, but identifying the type of potential client you’re dealing with. People who make this kind of statement are oftentimes more willing to switch their merchant accounts because they’ve gone through the process before, but may be cautious, as they haven’t had much luck. To win the deal, it is important to remind them they have nothing to lose since it doesn’t cost them money or time to have you review their merchant account:

"If there is anyone who can help you, it’s us. I have yet to see a statement where I cannot save the merchant money."

“What’s your rate?”

Although some business owners understand why they need to pay for merchant services, they may not fully comprehend how the rates and fees are determined. For example, many consumers do not know how to calculate their effective rate or recognize hidden credit-card processing fees on their merchant statement without assistance. So, when answering a question that has to do with pricing, explain to the client that the amount will vary depending on how much is processed each month, among other factors:

"First, we determine which one of the many different billing platforms you are on, and then provide you with a comparison for every line item. Your rate is only one component of the total cost. If we can give you a better return every month, isn’t that what’s most important?"

“My business doesn’t accept enough credit cards.”

You’ll find that small business owners will most often make a statement like this. Remember to stress that no matter their size or industry, all business owners need a merchant account to keep up with today’s business trends:

"Everyone should at least consider getting a merchant account, because it can improve the customer experience, even if only a few people use debit and credit cards at your place of business. The merchant services company I represent works hard for every client, whether they own a small or a large business."


Pro Tip: Today’s ‘new normal’ makes credit card acceptance that much more important. Many businesses are pivoting to eCommerce sales, and those that are staying open, require hardware that prioritizes employee and customer safety. The CardPointe product suite provides merchants with eCommerce solutions and payment devices that accept contactless transactions and will not only help small businesses keep their doors open, but adapt to industry trends.

Overall, it is impossible to sway everyone into signing a deal but knowing how to handle rejection in merchant sales will drastically improve the overall odds of winning new business.

The partnership between a payment processor and a salesperson is vital to the success of both parties. The CardConnect Agent Program helps partners leverage the power of payments by providing cost effective solutions for merchants looking to utilize credit and debit card payments. Our enhanced CardPointe suite of payment products combined with our CoPilot partner portal make it easy to win new business and maintain your partner portfolio. Get started today!