Welcome to the written recap of The Paycast Network, sponsored by Dejavoo—payment technology designed to keep you ahead of the competition. In this episode, host Barry sits down with industry veterans Raquel De La Fuente, Lynn Soram, and Tina Waldrup to discuss a crucial yet underrepresented topic: Women in Payments.
Whether you missed the audio or simply prefer reading, this blog breaks down their candid conversation about sales strategies, corporate survival stories, and why merchant services is a hidden gem for female entrepreneurs.
A Quick Trivia Warm-Up: Women Who Changed Sales
Before diving into the core discussion, the panel kicked off with a quick trivia segment celebrating iconic women in sales history:
- Mary Kay Ash: Founded her namesake cosmetics company in 1963 with her life savings of $5,000. She famously incentivized top sales performers with pink Cadillacs, creating one of the most recognizable brand rewards in history.
- Sarah Blakely: Started her career as a door-to-door fax machine salesperson before utilizing those exact pitch skills to sell her invention, Spanx, to Neiman Marcus.
The Reality of Being a Woman in Merchant Services
Merchant services has traditionally been a heavily male-dominated industry. The panel explored the unique dynamics, hurdles, and advantages women face when working in field sales.
The Visual and Professional Standards
Tina pointed out that preparation often looks different for women. From hair and makeup to general appearance, getting ready for a day of face-to-face sales calls simply takes more time. However, Raquel emphasizes that authenticity trumps perfection: “What you see is what you get… I don’t want to be based upon that [appearance]”.
Overcoming Adversity
Lan shared her perspective as an African American woman in the industry. While racism and sexism exist, she uses them as fuel rather than a barrier. “If anything, it motivates me even more to go cold call a professional white man… I’m not scared,” she noted.
Connection over Transaction
The group agreed that women often bring an educational and communicative edge to merchant relations. Instead of acting like a transactional salesperson who slaps a terminal down and disappears for five years, female reps frequently focus on teaching merchants how to read statements and set their businesses up for long-term success.
Tina’s Success Story: “I visited a merchant early in my career who told me, ‘I hate all of you.’ He used to jump processors every six months. But we connected on a personal level. He has now been my merchant for 13 years. Years ago, when my father was incredibly ill in the hospital, this merchant called or visited me every single day and brought me food. It’s about building a family, not just a client base.”
Why Aren’t There More Women in Payments?
Despite the high earning potential, the industry is far from a 50/50 gender split. The guests highlighted a few key reasons for this disparity:
- Lack of Female Mentorship: Many women enter the space without a strong mentor to build their confidence and guide them through a male-dominated environment.
- Time Constraints: Women are statistically more likely to balance primary caregiving roles for children or elderly parents. However, the panel noted that the flexibility of merchant services actually accommodates a busy home life perfectly if managed well.
The Corporate “Villain Arcs” That Led to Freedom
Why should women leave corporate America for a 1099 commission-only structure? Lan and Raquel shared the exact moments they realized corporate environments would never truly support them.
Lan’s Story: The Lack of Medical Empathy
While working as a sales rep for a major staffing agency, Lan became pregnant and developed preeclampsia—a dangerous high blood pressure condition. When she informed her female boss that she was being placed on mandatory doctor-ordered bed rest, her boss replied, “Well, you don’t look like you have it”. Lan resolved right then never to let a boss dictate her health or the safety of her child again.
Raquel’s Story: Cold Corporate Responses
In a previous corporate role, Raquel suffered a devastating miscarriage at 19 weeks pregnant. While visibly grieving at work, her female boss looked at her and asked, “What are you crying for?” Raquel refers to this moment as the start of her “villain arc” against corporate America, driving her to seek an industry where she had total control over her schedule and well-being.
Blueprints for Success: Advice for New Female Agents
If you are a woman looking to break into merchant services, the panel recommends three foundational steps to protect your business and accelerate your growth:
1. Partner Wisely
Align yourself with an Independent Sales Organization (ISO) or a team that is genuinely invested in your education and mentorship. Do not hesitate to reach out to other successful women in the industry via social media networks for guidance.
2. Read Your Contracts
Before signing with any processing partner, carefully read the agreements. Ensure your residuals are secure, reciprocal, and protected over the long haul so you aren’t taken to the cleaners.
3. Master Daily Habits
Long-term success requires daily discipline. The panel shared their personal daily habits:
- Set Unwavering Goals: Give yourself an exact target to hit, even if it feels out of reach.
- Be Visible in Your Community: Volunteer your time, show up to your merchants’ local events, and provide support when they experience operational stress.
- Practice End-of-Day Brain Dumps: Spend the last 15 minutes of your workday mapping out the exact schedule for the following day to eliminate distractions and fight off creative avoidance.