Phone Etiquette/Merchant Retention

1.

1 point

[MERCHANT RETENTION] Name one of the 3 requirements of proper notation in the IPS system:

2.

1 point

[PHONE ETIQUETTE] What is the very last thing that should take place when ending a call?

Verify all issues have been addressed

Thank customer for calling

Confirm customer satisfaction with resolution

3.

1 point

[PHONE ETIQUETTE] Hold procedure dictates you:

Ask permission then wait for response

Escalate call to Team Lead

Maintain poise and breath

Ask questions to determine customer's needs

Focus on what can be done

4.

1 point

[PHONE ETIQUETTE] What is positive language?

Avoiding dead/mute air

Using proper grammar

Avoiding "um or "uh"

Avoiding "can't, don't, won't"

5.

1 point

[MERCHANT RETENTION] Under what conditions can a merchant be advised to send in a cancellation letter? (Mark all that apply)

Save attempt has been made

Merchant advocate has given the OK

Reason for requesting termination has been clearly notated in IPS.

Merchant has been informed of ETF and 30 day cancellation policy

6.

1 point

[MERCHANT RETENTION] Which department handles merchant retention?

Customer Care

Merchant Advocate

All of the above

7.

1 point

[PHONE ETIQUETTE] How long should a merchant be on hold for before checking in?

30 seconds

45 seconds

25 seconds

10 seconds

8.

1 point

[PHONE ETIQUETTE] Using acronyms allows merchants to understand complex issues.

True

False

9.

1 point

[MERCHANT RETENTION] What is the initial term of a version 4 contract?

$595 Early Termination Fee, 48 Months

$195 Early Termination Fee, 24 Months

$395 Early Termination Fee, 36 Months

$295 Early Termination Fee, 12 Months

10.

1 point

[MERCHANT RETENTION] All retention issues must be followed up within a reasonable timescale. What is the limit to this timescale?

24 hours

2 hours

End of business day

48 hours

12.

1 point

[PHONE ETIQUETTE] What defines a successful greeting?

Smile

Speed

Volume

All of the above

13.

1 point

[MERCHANT RETENTION] A merchant filing for bankruptcy will still have an Early Termination Fee unless we receive official documentation.

True

False

14.

1 point

[PHONE ETIQUETTE] Building rapport with a customer requires:

Focus on what can be done

Apologize and empathize

Using positive language

Defining who the customer is

Making their issue your issue

15.

1 point

[MERCHANT RETENTION] In which situations would an Early Termination Fee not apply? (Mark all that apply)

Merchant has never processed

Merchant has paid off a cash advance

Merchant is a chair renter

Merchant has downloaded terminal but was declined for cash

16.

1 point

[PHONE ETIQUETTE] What is the proper procedure for placing a customer on hold?

Ask permission then wait for response

Provide ETA then check back in - ensure customer is still OK with the delay

Offer Call Back Option

All of the above

17.

1 point

[MERCHANT RETENTION] A merchant calls in requesting to cancel because they no longer wish to move forward with a cash advance. How should this be handled?

Pitch products, go over Terms & Conditions, and advise merchant to send in cancellation letter

Escalate to Merchant Advocate

Pitch products, go over Terms & Conditions, and escalate to Merchant Advocate

Escalate to Team Lead

18.

1 point

[MERCHANT RETENTION] What is the initial term of a version 3 contract?

$295 Early Termination Fee, 24 months

$595 Early Termination Fee, 48 months

$395 Early Termination Fee, 36 months

$195 Early Termination Fee, 12 months

19.

1 point

[MERCHANT RETENTION] If a merchant calls and complains about being charged a termination fee, who should handle this issue?

Team Lead

Collections

Merchant Advocate

Customer Service Rep

Risk

20.

1 point

[PHONE ETIQUETTE] A challenging call requires you to:

Ask permission and wait for response

Avoid using "um" or "uh"

Clearly relay issue before transferring call

Confirm customer's satisfaction

Listen carefully and take notes

21.

1 point

[PHONE ETIQUETTE] It is important to adjust to the merchant's tone.

True

False

22.

1 point

[MERCHANT RETENTION] What is the initial term of a version 2 contract?

$395 Early Termination Fee, 36 Months

$195 Early Termination Fee, 24 Months

$595 Early Termination Fee, 48 Months

$295 Early Termination Fee, 12 Months

23.

1 point

[PHONE ETIQUETTE] When diagnosing an issue:

Provide ETA and offer call back if necessary

Listen and interrupt caller

Apologize and empathize

Don't carry over from previous call

Explain understanding of issue

24.

1 point

[MERCHANT RETENTION] What two things must be done when a merchant has a complaint about the customer care department?

Escalate to Team Lead for follow up

Resolve Merchant Issue

Escalate to Merchant Advocate for follow up

Offer rate verification

25.

1 point

[MERCHANT RETENTION] To whom should a merchant not satisfied with a tax levy be escalated to?

Customer Care Manager

Merchant Advocate

Team Lead

Risk Manager

26.

1 point

[MERCHANT RETENTION] To whom should a merchant requesting a copy of their contract be escalated to?

Team Lead

Merchant Advocate

27.

1 point

[PHONE ETIQUETTE] The proper on hold placement is:

"Hold for a second please"

"May I place you on hold while I research this further please?"

" Allow me one moment to research this issue please"

"Please hold for one moment"

28.

1 point

[PHONE ETIQUETTE] Which is an appropriate responds to a customer's needs?

All of the above

Empathy

Sympathy

29.

1 point

[PHONE ETIQUETTE] Who are our customers?

Merchants

Agents

Other Departments

All of the Above

30.

1 point

[MERCHANT RETENTION] If a merchant is requesting cancellation due to a tax levy, what type of retention issue would this be classified as?

Pricing Issue

MCA Issue

Equipment Issue

Risk Issue