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Job details

Merchant Services Retention Specialist (US)

Work Location:

Mount Laurel, New Jersey, United States of America

Hours:

40

Pay Details:

$24.00 - $33.50 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. 

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Line of Business:

Product Management

Job Description:

The Merchant Services Retention Specialist retains and expands relationships by advising Merchant Services customers on pricing, on boarding, equipment/billing set-up and any other request the customer presents. The role also contacts inactive merchants in an effort to reestablish the relationship and reactive the account.

Depth & Scope:

  • Establishes and maintains strong business relationships with Merchant Services customers, exchanges information and ensures high quality customer service is provided
  • Maintains contact with existing relationships to reduce merchant attrition
  • Promotes Merchant Services by responding to customer inquiries within our Service Level Agreement
  • Initiates calls based on portfolio's that are at risk for leaving the bank to ensure retention of account
  • Provides superior service exceeding expectations on every contact
  • Follows-up on retention leads to reduce attrition
  • Consistently follows established processes and procedures
  • Promotes the business by preventing account attrition through due diligence in decision making when re-negotiating the pricing and profitability of franchise-able banking customers
  • Ensures new sales acquired contribute positively to the overall net income of our organization


Education & Experience:

  • High School diploma or equivalent
  • Strong knowledge of merchant industry, products and services, including electronic payment processing practices
  • Relationship management, sales and negotiation skills preferred
  • Experience evaluating financial data and merchant processing statement activity preferred
  • Demonstrated attention to detail and strong analytical ability
  • Excellent communication skills, including strong writing ability
  • Strong PC skills, including experience with on-line and third party reporting systems

Preferred Qualifications:

  • Merchant Services or Small Business Specialist experience preferred
  • Fivserv experience

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.

Who We Are:
TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues. 

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you’ve got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we’re here to support you towards your goals. As an organization, we keep growing – and so will you.

Our Total Rewards Package


Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition. Learn more

Additional Information:
We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development
If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD – and we’re committed to helping you identify opportunities that support your goals.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process
We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

If you are an applicant with a disability and need accommodations to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com. Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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Average salary estimate

$57500 / YEARLY (est.)
min
max
$48000K
$67000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Merchant Services Retention Specialist (US), TD

Join TD as a Merchant Services Retention Specialist in Mount Laurel, New Jersey, where your efforts will significantly impact our customer relationships and contribute to our stellar reputation in the financial sector. In this role, you will be the go-to person for our Merchant Services customers, guiding them through everything from pricing and onboarding to equipment setup and billing inquiries. Your expertise will not only help existing customers feel valued but will also be pivotal in reactivating accounts with inactive merchants. Here at TD, we believe in cultivating strong relationships, so your ability to communicate and connect with customers will be key in reducing attrition rates. You'll be responsible for reaching out to merchants at risk of leaving, ensuring we go above and beyond to meet their needs and exceed their expectations on every call. You'll also collaborate with your team to promote our services while keeping an eye on the financial health of our offerings. With a strong focus on customer service and relationship management, this is not just a job—it's an opportunity to elevate your career in a supportive environment that values growth and development. If you're ready to tackle challenges and make a genuine difference in our clients' businesses, TD is excited to welcome you aboard as our next Merchant Services Retention Specialist!

Frequently Asked Questions (FAQs) for Merchant Services Retention Specialist (US) Role at TD
What are the responsibilities of a Merchant Services Retention Specialist at TD?

As a Merchant Services Retention Specialist at TD, your main responsibilities include managing relationships with our Merchant Services clients, addressing their queries about pricing, onboarding, and billing, and actively reaching out to re-engage inactive merchants. You'll also work on upselling our services and reducing customer attrition by providing top-quality service and support.

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What qualifications are needed for a Merchant Services Retention Specialist role at TD?

To become a Merchant Services Retention Specialist at TD, you typically need at least a high school diploma or equivalent. A strong understanding of the merchant industry and electronic payment processing, along with excellent communication skills and relationship management abilities, will give you a competitive edge. Prior experience in sales, negotiation, or analyzing financial data is preferred as well.

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How does TD support career development for Merchant Services Retention Specialists?

TD is committed to the growth of its colleagues, providing regular development conversations, training programs, and mentorship opportunities. As a Merchant Services Retention Specialist, you'll have access to resources aimed at helping you expand your skills and advance your career within the banking sector.

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What can I expect in terms of salary as a Merchant Services Retention Specialist at TD?

At TD, the salary range for a Merchant Services Retention Specialist is between $24.00 and $33.50 USD per hour, depending on your skills and experience. TD ensures equitable compensation opportunities and encourages open discussions around salary with recruiters, allowing you to gain a clearer understanding of your potential earnings.

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What is TD's approach to customer retention in the Merchant Services department?

TD takes a proactive approach to customer retention within the Merchant Services department. By establishing strong business relationships, promptly addressing customer inquiries, and following up with at-risk accounts, our Merchant Services Retention Specialists are crucial in maintaining customer loyalty and satisfaction.

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Common Interview Questions for Merchant Services Retention Specialist (US)
Can you describe your experience with customer service in the financial industry?

When answering this question, highlight specific instances where you've successfully managed customer relationships, resolved issues, or provided exceptional service. Emphasize your understanding of the financial services landscape, especially if it relates to merchant services.

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How do you handle difficult customer interactions?

Use the STAR method (Situation, Task, Action, Result) to demonstrate your approach. Discuss a past experience where you encountered a challenging customer and how you used your communication and problem-solving skills to turn the situation around.

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What strategies would you use to retain at-risk merchant accounts?

Showcase your knowledge of the merchant industry by discussing specific strategies such as personalized outreach, tailored offers, and regular follow-ups. Highlight the importance of understanding customer needs and building rapport to keep them engaged.

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How do you stay updated with industry trends related to merchant services?

Explain your methods for staying informed, such as following industry publications, participating in webinars, or networking with other professionals in the field. This shows your commitment to ongoing learning and adaptation in a fast-evolving industry.

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What do you see as the most important qualities for a Merchant Services Retention Specialist?

Mention qualities such as strong communication skills, empathy, problem-solving abilities, and the capacity to build long-term relationships. Demonstrating your understanding of the role's demands illustrates your capability to excel.

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How would you approach re-establishing contact with inactive merchants?

Discuss the importance of personalized communication and understanding the reasons behind inactivity. Share methods such as targeted outreach campaigns and follow-ups that demonstrate your dedication to their business success.

Join Rise to see the full answer
Can you provide an example of how you've used data to improve customer service?

Provide a specific example from your experience where you effectively analyzed customer data to identify trends, leading to improved service delivery and higher satisfaction rates. This shows your analytical skills and their direct impact on customer relationships.

Join Rise to see the full answer
What role do you think negotiation plays in a Merchant Services Retention Specialist position?

Discuss how negotiation skills can help secure better terms for clients while maintaining the profitability of the organization. Highlight the balance between meeting customer needs and achieving business objectives.

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How would you measure your success as a Merchant Services Retention Specialist?

Express the importance of tracking metrics such as retention rates, customer satisfaction scores, and feedback from clients. Mention how setting targets and continuously striving for improvement will guide your performance.

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What attracts you to the Merchant Services Retention Specialist role at TD?

Share your enthusiasm for the company’s commitment to customer service, growth opportunities, and values that align with your own. Explain how you envision contributing positively to the team and the company’s goals.

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As a top 10 North American bank, TD aims to stand out from its peers by having a differentiated brand – anchored in our proven business model, and rooted in a desire to give our customers, communities and colleagues the confidence to thrive in a c...

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Full-time, on-site
DATE POSTED
April 18, 2025

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