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High Risk Credit Card Merchant Processing Explained

High Risk Credit Card Merchant Processing

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How to Sell Merchant Services - How to Become an ISO for Credit Card Processing - Best Merchant Services to Work For - Best Merchant Services Affiliate Program - Best Merchant Account Referral Programs - Merchant Services Residual Income - Merchant Services ISO Registration

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North American Bancard Agent Program - Best Credit Card Processing ISO Programs

How to Start an Online Payment Processing Company

One of the most lucrative fields that you can get into as a salesperson is selling to other businesses. Unlike most end consumers, business owners keenly understand the value of investing wisely in long-term solutions, and not merely throwing away their money on something cheap. If you want to truly contribute value to other business owners, while making a decent paycheck every month yourself, one of the best ways to do that is to offer quality merchant services. You will be invaluable to your clients, and if you serve them well, they will continue to look to you for ways to make their business more efficient.

Why start selling merchant services on your own, though? Isn't that a lot more work? What are the benefits if you're already working in a commission-based kind of job? Well, here are a few of the major ones:

More Control - Even if you're working in a field where you get a relative amount of independence, like in sales, you still don't have complete control, and your whole work life revolves around satisfying someone else's numbers. You may have your own personal selling style, but the overall strategy that the company follows—the direction in which “the ship” is being steered—is not determined by you, but by someone else. This may not be such a bad thing for some people, but it also means that your livelihood is ultimately in someone else's hands. What if the owners of the company that you work for make a dumb decision that spells the end of the business? You will have to suffer the consequences anyway, even though it wasn't your fault.

More Cash - Of course, if you start your own merchant services business, you have the potential to make a lot more money than someone who doesn't. If you're an independent contractor, at the end of the day, the people above you are raking in the most money. Sure, as a salesperson, you might make a hefty percentage of that, but the fact of the matter is that your potential for financial growth is stunted. If you have a business that you control yourself, it is basically up to you how much money you want to make, and you keep more of the fruits of your hard work.

The Potential for Scale - The thing about a normal job, even a sales job, where you're working for someone else, is that you rarely have the possibility to scale things up. In other words, you can't “replicate” yourself by hiring someone else to do some of your tasks, and this can greatly reduce your long-term income potential. When you start a merchant services business, you can choose to run it in many different ways, but one way is to outsource the work slowly until your business can practically run on its own. For true residual, passive income, this is the kind of situation that you will want to be in. This is what makes it possible for you to work because you want to, and to make money even in your sleep. You just can't do this when you work for someone else.

Now, you may be thinking: How do I start a merchant service business? Maybe you've been a salesperson for awhile—maybe you've even been selling POS equipment and other important retail tools—but you're not sure how to make that leap into selling for yourself.

Well, unless you've invented and designed your own solutions, you're going to have to start by forming a partnership with a merchant services agent program that you believe in. They're going to have to make a product that you can really get behind because, if you're building a business for yourself, most of your money is ultimately going to come from the back-end, from repeat customers. This is why it is so important to take a step back and think about quality above anything else. By all means, find a program that is lucrative, but don't ever sell a product that you wouldn't feel enthusiastic about using yourself. In the end, this is what is really going to create repeat business.

What traits do you look for in a merchant services agent program, then? Don't be taken in by any fancy bells and whistles. Basically, these are the things you are going to want to see:

A History of Reliability - Again, there's no sense in selling shoddy services or products. Look up reviews of the company and decide if they are any good. Research their products and make sure that they are user-friendly. Find a way to use them if you can. The easiest products to sell are the ones that are actually good because they basically sell themselves time and time again.

Generous Revenue - Share Since this is going to be the core of your business, you are going to want to find a merchant services partner program that gives you a good cut of the sales. If you're doing all the work of finding and maintaining leads, then you need a fair percentage of what that customer is paying.

Residual Income - Part of what makes selling POS services so lucrative is that there is often a monthly fee involved or else the merchant services agent program takes a percentage of the user's sales. As a partner, make sure that you have access to a significant portion of that long-term income as well. This is what is going to pay you month after month, even long after you have made the initial sale. This is where most of your money is, really.

Lots of Options and Flexibility - The company you work with should have lots of different options when it comes to revenue sharing, that way you will be able to build a strategy out of the one that best suits your business.

So, what specific company can you go with that will fulfill all of these needs? There are a few, but one of the best and most reliable is North American Bancard. We provide real value to their clients, so you should have no trouble working with them and building a stream of residual income from their products. Ultimately, though, just focus on solving your customers' problems and finding a company that can help you do that, and you should be able to start your own merchant services business.

Selling Merchant Services - A Step-By-Step Process

As you might already realize, selling merchant services, such as credit card processing, can be extremely lucrative. Below are the steps that you can take to get into this fascinating business, starting with finding your first leads:

Step 1: Find Your Prospects - First, you need to start thinking about where your prospects are. What sort of businesses do you want to sell to, and where can you find them? Your best bet is probably to find businesses that are currently in need of merchant services, since it's much easier to persuade a merchant if he isn't already signed up with a competitor. You can find out what new businesses have opened up in your area by joining your local chamber of commerce or professional business associations. Being able to interface with business owners in person will give you a huge leg up over the competition. You might also try looking in your local newspaper for local stores that have just opened up.

Step 2: Make a Sales Pitch - Sometimes your ISO will provide you with a sales pitch, but you might be better off making one of your own that you adapt to your situation or niche. In general, though, just put yourself in the shoes of your prospect? What do they really want? Your sales pitch should revolve around that. If you don't know enough about your potential customer yet, ask him. Have him tell you about his sales, what kind of industry that he's in, and whether most of his transactions are done online or at his physical storefront. This will give you an idea of how to serve his unique needs. Ask your prospect if he'd like to customize his solution using your products, and then help him put his ideal credit card processing setup together. In this business, you'll want to ditch any high-pressure sales tactics when selling merchant services. Since you will have a long-term relationship, the prospect needs to feel comfortable that he got exactly what he wanted.

Step 3: Sell It - Once you have figured out what your prospect needs and taken the time to come up with a good solution, schedule a time for another meeting. It shouldn't take more than twenty minutes or so to pitch your idea. You might want to put a power point presentation together, or something similarly visual to get your point across. Be very clear in the language you use, by the way. Make sure that it's nothing too obscure that will confuse the merchant. Also, don't be overly detailed—the merchant is only really going to care about how the solution will serve his ends. Just focus on telling him how it's going to save him time and money.

Step 4: Close the Deal - If your prospect is ready to move forward, then get started as soon as possible. Don't put it off; make sure to work while the merchant's “buying temperature” is hot. Fill out the application for the service right then and there if you can.

Step 5: Stay Involved - Since you will be making residual income from this person, make sure that you build a relationship with them over the long-term. Don't just sell to them and disappear. Your residuals depend on their staying with your service, so customer retention is important. In addition, many of your future prospects will come through word-of-mouth from your current prospects if you do your job right. It's extremely important to have a good reputation because people will certainly hear about you through the grapevine, and you're going to want them to hear good things—your business depends on it.

Step 6: Keep Funneling Sales Through Your Pipeline - In this industry, things run a little slower than usual, since you're dealing with the complexities of another business. It is the nature of B2B sales, so you might be working to close a deal for weeks. This is why it's important to multi-task, and to always be working on more than one account at a time. Meet with as many merchants as is reasonable, and make sure to do your best revive any leads that seem to have cooled off and disappeared. Always be in the process of signing up new merchants, and don't let yourself idle for too long. This is the best way to build up a large volume of residuals over time.

For everything you need to know on "Selling Merchant Services" <-- Click the link.

How to Become a Payment Processor : Credit Card Merchant Processor

Merchant services is one of the hottest industries in the country. Merchant services can surely be lucrative, but one of the first things that you will need to learn about merchant services is that there are a variety of services that fall under the umbrella of being in merchant services. One of those is payment processing. If you want to achieve a higher income, more streams of revenue, and a better relationship with your merchant clients, then one of the options that you may be considering is becoming a payment processor.

A payment processor is one of the most essential roles in the payments process. However, becoming a payment processor is somewhat difficult if you don’t know the proper steps and the benefits of becoming a payment processor facilitator. If you’re ready to become a payment processor, but don’t know where to start, then this guide will give you valuable insight that will show you how to enjoy the benefits of becoming a payment processor while also being aware of the potential drawbacks.

Benefits of Becoming a Payment Processor

One of the reasons that so many merchant services providers flock towards becoming a payment processor is that it does come with a number of benefits that make it absolutely the right choice for some. In order to make the decision for yourself whether you want to become a credit card processor you need to get to know the benefits of being a payment processing company a bit more. Here are some of the most well-known benefits of becoming a payment processor for merchants and businesses.

Revenue Streams

Most people that want to branch out to being a payment processor and create a more robust product offering are doing so because they want to diversify and expand their income streams. When you are a payment processor, you will be making money from payment processing in a variety of ways. This can help to reduce the risk involved in being in business and make it more feasible to have success in merchant services. While there is undoubtedly more responsibility and some more work involved to get things going, you can certainly experience improved and more stable income as a result of becoming a payment service provider.

More Control

One of the best aspects of running your business as a payment processor is that when you are a payment processing company, you have more control over the entire process. This means from the underwriting to the actual payment processing, your business will be involved. While some see more work in this arrangement, others see an increased opportunity to optimize and improve the process in a way that most directly benefits your business model. You’ll be able to evaluate risk and other factors in the way that you see fit and place importance on the factors that you think are important. While this does increase liability and put more of the burden on your business, it also could allow you to explore opportunities that you might not have been able to before and have real influence on the industry.

Streamlined Support

As a merchant services reseller, there are some benefits such as being able to outsource customer support. However, there comes a point where each professional must decide whether this is a benefit or a liability. Outsourced customer support or the act of passing on your customer to another company for tech support can feel bloated and inefficient. When you are a payment service provider, you will have more freedom to handle customer support on your own. This can mean that your customer support is a better experience overall. It will mean faster service times, more direct communication, and increased trust between you and your customer. This all leads to greater customer loyalty and overall a better business outlook.

Steps to Becoming a Payments Processor

Though the concept of becoming a payment processor is somewhat easy to understand, the process does take time and effort if you want to have success. Here are the most important steps that you need to take if you want to become a payment processing company.

Registration/Paperwork

Perhaps the most important step is a good foundation. For a payment processing company, this often means registering with the proper authorities and making sure that you have all necessary paperwork in order. Be sure to do this before anything else, as it could leave you open to liability down the road.

Hire Staff/Facilities

The next thing you will have to do is build the infrastructure of your team and company. For payment processors, this means hiring staff and renting facilities that will house your business and carry out business functions for you.

Build Workflow

Now that you have all the permanent aspects in place for your business, it’s time to build the wireframe of your processes and workflow so that your business and employees understand how the business works.

Market Services

When you have everything set up, you can begin to get clients and market your services to anyone that can benefit from them. You will also build selling and commission programs to attract agents. This creates a funnel of clients and sets up your business for success into the future.

Accept Crypto Payments : Bitcoin Merchant Account Services

The cryptocurrency industry is booming, with over 1.1 million transactions per day through Ethereum alone. And even though most retailers are still wary of accepting bitcoin payments, the list of companies that accept cryptocurrency payments is growing continuously.

As more and more online and offline brands start accepting cryptocurrency payments, the number of people willing to use it increases as well. You can, too, start receiving crypto payments from clients around the globe. But first, you should know how it works, the potential benefits and drawbacks, and how you can start accepting bitcoin and altcoin payments on your website and physical store. Let's discuss all of that and more below.

It's exactly what it sounds like; using cryptocurrency to make payments for services and goods. However, it should be noted that crypto has not yet become a legal currency anywhere around the globe except El Salvador, which only accepts bitcoin payments. Nevertheless, you can trade crypto in most countries as if you're trading a property.

You can trade Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, etc., on exchanges like Coinbase, Kraken, Bitfinex, Coinmama, and Binance, etc. Still, many online and offline merchants accept cryptocurrency payments, including AT&T, Microsoft, KFC, Starbucks, Namecheap, Whole Foods, NewEgg, and so on.

Since cryptocurrencies are typically designed for easy peer-to-peer transactions, receiving cryptocurrency payments is as straightforward as sending coins from one wallet to another. The customer can use their phones to scan the QR code or copy the hash code of the merchant's wallet and make a transfer without involving any intermediary......... Read More

What is a Merchant Services ISO or Independent Sales Organization?

Though you might hear the term ISO (Independent Sales Organization) used a lot in the merchant services business, people don't always use it accurately. Let's take a look at what this term actually means according to credit card companies and banks.

What is an ISO? - Basically, a merchant services ISO program is an entity (a company or a person) who is not a MasterCard or Visa member bank—also known in general as Association members—yet they have a relationship with these banks. This can mean many things. For example, they may find new customers, offer customer service to the merchants, or sell terminals to them.

What is an MSP? - An MSP (Member Service Provider) is more or less similar to a credit card processing ISO program, though this isn't always exactly the case. An MSP is more of a “middle man” usually, a company that is often not an Association member, but who provides services to members.

What Do ISOs and MSPs Do For Their Banks? - First of all, remember that neither MSPs nor merchant services ISOs are actually banks. The MSP / ISO will contract a processing bank to do this, and each MSP / ISO must have this kind of relationship with a bank to be able to process credit cards.

Under normal circumstances, the acquiring bank will be an Association member with both Visa and Mastercard, and they usually register for both at the same time. ISOs in turn can have relationships with more than one bank. By the way, these processing banks can also engage in vertical integration and become their own ISOs. This isn't common, though, and normally they will just specialize in processing credit cards, since it takes a lot of resources to draw in leads all the time.

An ISO is required to disclose their processing bank on their brochures, website, and other material. Usually, these are somewhere inconspicuous, like the bottom of a page.

How Does an ISO / MSP Register with the Credit Card Companies? - It's not exactly easy. First, the merchant services ISO needs to find a processing bank that will serve as a sponsor. Next, the merchant services ISO has to demonstrate to the companies that they have the means to perform their duties. Afterwards, there's lots of paperwork to do. For example, a merchant services ISO program might have to provide:

Financial statements / tax returns
Incorporation documents
Their business plan
Their sales material
A list of their sales agents

On top of all of that, the owners of the companies will also have their credit checked.

What Kind of Fees Does an ISO / MSP Have to Pay For Registration? Once they are actually approved, the fees are $10,000 upfront. These fees are paid every year as well, as part of a review process.

What Are So-Called Sales Agents? - Many times it's helpful for merchant services ISOs to have an independent sales team, so they will hire sales agents to find interested merchants. According to MasterCard, a sales agent is someone who provides services to a member, but isn't an MSP. In other words, sales agents don't have to be Association members, since the merchant services ISO program is the one that takes care of the processing. Sales agents have to be registered, however, though the fee is quite negligible—something like $50 every year. Sales agents, though functioning somewhat independently, can't advertise as a service provider and have to use the name of their merchant services company.

What Option Works Best? - Is it enough to be a merchant services sales agent? Or should you consider becoming a merchant services ISO or MSP, even though it requires going through all that bureaucratic process? Like anything else, this really depends. How much processing volume do you have? Obviously, you get a better price per transaction as a merchant services ISO, so you'll need to make some calculations and decide for yourself whether the increased profit margin is worth the overhead costs.

Be cautious, though, when looking at proposals from processing banks. There might be some fine print in there that can come back to haunt you. Specifically, look for fees that might cut into your profit, such as minimum processing fees. Minimum processing fees are charged when transaction fees during a certain period don't reach a minimum threshold.

These minimum processing fees can sometimes be really exorbitant, so watch out for them. Sometimes they can run into tens of thousands of dollars per month, and if you can't come up with the transaction fees, you'll be paying the difference yourself.

If you don't have a large portfolio yet, this can really harm you. Let's say the minimum processing fee for you is $6,000 every month. Let's say that, like many ISO's, you make an average of between $0.07 to $0.09 for every transaction. You would basically need to make 66,600 to 85,700 transactions on a monthly basis just to reach the minimum, which is unfeasible if you are a brand new company.

Usually, your processing bank will give you a period of time to build up your clientèle, however. If you think you can manage to reach a volume that surpasses the minimum processing fees by this time, then go right ahead and become a merchant services ISO. However, make sure that you calculate everything very carefully.

By the way, since you're kind of expected to increase volume over time, the whole minimum processing fee can increase as well. That's right, a bank can progressively charge you more and more. For example, they may have given you a minimum fee of $4,000 in year 1, but every year that your contract renews, they might increase it by a lot—maybe even by the original amount, so that you're paying $4,000 more every subsequent year.

You can probably see why this would be a problem. Your fees are growing linearly, but your portfolio might not be. In fact, it is unlikely that your business would be able to support that amount of growth every year, unless your company is just so great that people are abandoning their merchant service agreements just to work with you. Either way, never sign an agreement that has fine print like this. Fees that increase like this are not very sustainable and you may get ripped off in the end.

Another (Not Great) Alternative - One thing you can do is to try to find a small bank that doesn't have any minimum fees at all. The problem here, though, is that their pricing might not be as good of a deal as larger processing banks, and their service might not be as reliable.

Besides, these smaller processors often have their own version of a minimum fee requirement—instead of transactions, they require you to bring in a certain number of new clients per month. If you don't comply, then you could stand to lose your residuals. In other words, you could have worked for years to build up a portfolio of dozens of merchants, and you could be bringing in a huge volume for your bank. You might have built up to tens of thousands of dollars per month for yourself, but your bank requires you to bring in five new merchants, and you only brought in four.

What happens? You lose all of your income, just like that. Does that sound fair to you? Your processor still has all of those accounts, but you are left in the dust. It's not really “passive income” if you have to keep adding a certain arbitrary amount of merchants per month, is it?

Conclusions - All of this can be confusing if you are new, but you can probably draw a few conclusions from it and get an idea of your game plan. To put it simply, if I had to start in this business over again knowing what I know now, I would just pick a large ISO and become a merchant services agent for them. This would help me learn about the industry and build up some income, and I wouldn't be risking falling victim to some fine print from my processing banks, or having to pay huge fees just to stay in business. I would work with several merchant services ISOs until I had decided which one was the best fit for me long-term.

After that, I would stop working with all of the other merchant services ISOs and concentrate on the best one exclusively until my volume had increased substantially. Once I thought I could pay all of the entry fees, I would consider becoming a merchant services ISO myself. I would speak with my merchant services ISO and see if they have a sponsorship program. Either way, I would shop around and be a hard negotiator, and not settle with a sponsor until I had a fair deal that I could actually work with.

Last, I'd hire an attorney to look over the paperwork. Yes, attorneys can be expensive, but in a business like this they are worth their weight in gold. You don't want to sign something without understanding all of the ramifications. Once that was settled and the deal seemed right, only then would I sign the agreement.

Understanding the Difference Between an ISO (Independent Sales Organization) and Sales Agent

In this industry, you will often hear the words “merchant services agents,” “Member Service Providers,” and “Independent Sales Organizations” used in a similar context, as if all three of these things are the same. The truth is that these terms actually refer to distinct roles in the credit card processing business. If this seems confusing to you, don't worry; all of these terms will be explained in this article, as well as their relationships to the credit card associations. We will also go over how you might go about becoming a merchant services ISO or an MSP.

After we've sorted all of that out, we'll go over what the advantages and disadvantages are of working in the industry as each of these roles. Getting an idea ahead of time of what each of these entails will hopefully save you from making a lot of mistakes early on in your business ventures.

What Every Term Means - First of all, let's get everything perfectly clear by defining the terms that we've mentioned so far:

ISO (Independent Sales Organization) – This is basically the ISO credit card processor, the company that serves as the middle man between the credit card companies and the merchant. It will often provide terminals to the merchants, as well as tech support, training, and customer service. Another common term for this is “merchant service company.”

MSP (Member Service Provider) – ISO is a term often used by Visa, and so MSP is basically MasterCard's version of this. They both mean roughly the same thing. However, to make things a little more obscure, MasterCard also uses the term ISO, but it means something different. Basically, in their case, an ISO offers services that are not processing and transaction services, like customer service and lead generation. For our purposes, though, don't worry too much about these subtle distinctions. They are basically the same thing. For the sake of simplicity, let's just assume that we're including MSPs when we use the term “ISO” from now on.

Sales Agent – This role is completely different from the above mentioned roles. A merchant services agent is a third party that sells the services of merchant services ISOs and MSPs. Since merchant services companies often like to concentrate on processing credit cards and offering POS solutions, they will contract sales agents to find merchants to work with. A sales agent doesn't have to pay the high association fees like an merchant services ISO does, but he can't do business in his own name and have a merchant services ISO program with an ISO or MSP company.

What is the Relationship Between an ISO / MSP / Sales Agent and the Processing Banks? - You probably realize that merchant services ISOs are not banks, and that these organizations need banks to ultimately perform the transactions. Every merchant services ISO will need a sponsoring bank, one who is a member of Visa and MasterCard's respective associations. In practice, these banks will usually not take on small merchant service companies, and actually most merchant services ISOs use larger ISOs as intermediaries between them and the banks....... Read More

Credit Card Processing Sales Commission Structure: Merchant Services Residual Income

Are you going through different merchant services sales jobs and thinking if you can make enough money from selling merchant services to afford a luxurious life? Well, the answer to this depends on how much work you put in. Since you will be relying on the commission and monthly residual income you get for each sale, your earnings will directly be dependent on how much you sell.

However, we have created this guide to give you a general idea of how to calculate your earnings and the things to consider when looking at the residual income structures offered by the merchant services agent programs. That being said, let’s dive right in:

How Much Can I Earn Selling Merchant Processing?

The first question that comes to mind of everyone taking up the merchant services sales jobs is; how much will I earn? And that question is fair because you need to pay the bills and keep your belly full. So to know how much you can expect if you become a credit card processing agent, you need to know about the sources of your income.

In merchant processing sales jobs, you have two ways to earn the greenbacks, the first one is by selling merchant services to the merchant. The second one is by selling/leasing the equipment like POS terminals. Now the most lucrative between both is the former one because by getting the merchant onboard, you will be getting residual income for as long as he is using your credit card processing company.

The second one is also not bad if you can manage to lease out or sell a couple of machines per month. You can combine both to increase your revenue as well, but since residual income is the most practical and long term earning approach, we will focus on it for this guide........ Keep Reading

So.. You want to Become a Merchant Credit Card Processor?

Are you excited to become a credit card processing agent? Do you want to start a credit card processing company? If your answer is YES, then you have come to the right place.

In this article, I am going to teach you ways to start a successful credit card processing reseller business. I am also going to take you through the fine details of planning, setting up, and running a successful credit card processing company.

You are going to learn about what it takes to become a successful credit card processing agent, how to conduct market and niche research, how to create a great business plan, how to get funding for your venture, and also tips to run a successful credit card processing company.

It is important to note that when you become a credit card processing agent, you will be helping corporate and businesses to process payment for their customers.

Your credit card processing services will involve offering the platform and equipment to facilitate the sending, approval, and processing of payments and transactions between customer’s bank accounts and your clients' bank accounts........ Continue Reading

How to Start a Payment Processing Company

Credit cards are all the rage in the USA and have been for decades, and six out of ten Americans have at least one credit card. The number of credit card users has been growing each year exponentially. People use them as the primary mode of payment. Similarly, debit cards are widely used online payment substitutes, and the number of new users is rising worldwide. Today, debit card usage accounts for 25% of all purchase volume which was 13% in 2005.

Moreover, there were 45 billion dollars in credit card transactions in the year 2019. It means more volume of the transaction will increase demand for credit transaction processors. Payment processing companies act as a bridge between the merchant and the customers making the payments. This industry may be competitive, but it’s true that it can be very profitable. Do you want to become a merchant service agent, or wondering how to start your own payment processing company? If yes, then read on to learn how to become a credit card processor.

How to become a credit card processor in 4 simple steps?

You might think it’s simple to become a credit card processor, but it is not as simple as it sounds. In fact, it is more than project projection, payment terminal, and POS options to get things started. Follow these steps if you are on a mission to becoming a merchant service provider........ Continue Reading

Best Merchant Services to Work For: Shaw Merchant Group

Looking for a career opportunity in sales? Want to get a residual monthly income that lets you earn a commission based on your customers’ businesses? Well, then merchant services sales jobs are the perfect sales jobs for you!

The ways payments are accepted and processed are more than just taking some cash and putting it in a drawer or using the terminal to swipe a credit card for a transaction. Tools, techniques, technology, all have come to play an integral role in making these transactions successful. This is where merchant services sales jobs come.

Merchant services careers belong to financial services utilized by different businesses. Working under authorized systems, they enable businesses to accept debit card and credit card transactions via point of sales systems and online ordering. It sure is a competitive industry to work in, but knowing how to find the right job and how you can make the best out of it can take you to places in your sales career.

What Are You Expected To Do?

As a merchant, you’re responsible for initiating auctions, devising and transferring information, and calculating subtotals, taxes, and shipping costs for customers, among other duties. You're also responsible for developing new prospects besides existing customers. This way, you will also be able to review customer’s merchant card statements while also suggesting products meeting the clients’ needs.

Besides a commission income, there are several other benefits you can get from getting into credit card processing sales jobs, and it’s because it is a popular industry. Some of the benefits of merchant services sales jobs include......... Continue Reading

Become a Registered ISO with Merchant Services

If you’re looking to make a name for yourself in the merchant services industry, then you have probably, at one point or another, considered becoming a registered ISO. In the merchant services industry, becoming a merchant services ISO is one of the highest levels that you can achieve. Becoming an ISO is a highly desirable position to be in because it opens up your earnings to an entire new world of potential. You’ll gain access to more revenue streams and you will also be able to market your services under your own unique brand instead of having to operate under the umbrella of another company.

However, the process of becoming a registered ISO is not one that happens overnight. Becoming an ISO requires that you have a large budget for paperwork, legal, and administrative expenses. You will need a considerable amount of resources to become an ISO in a timely manner and have success in the transition process. This short guide will show you the steps that you will need to take if you want to become a registered ISO and enjoy the benefits that the status has to offer......... Read More

White Label Merchant Services: Payments Gateways and ISO Partnerships

Ask any merchant and they would agree that a payment getaway plays a significant role when it comes to processing credit card transactions. When a customer swipes their credit card or makes an online purchase, it is the payment getaway that processes the card’s data sends it to the payment processor securely for authorization.

This transaction information is submitted to the credit card networks and then routed to the issuing bank of the cardholder for the payment to be approved or declined. This response is transmitted in reverse to the payment gateway, confirming the merchant if the transaction is approved or declined.

How Do Payment Gateways Work?

Payment gateways include interfaces and tools through which the merchant collects the information of the credit card transaction from the customer. Most gateways provide APIs allowing the POS devices, websites, software, or mobile app to integrate and send transactions to the gateway for the purpose of authorization.

Getaways also offer virtual terminal capabilities enabling the credit card information to be entered into a web page for submitting a transaction. These getaways include value-added features such as tokenization, reporting, recurring billing, PCI compliance, fraud detection, etc. making the transactions easier..... Continue Reading

Make $100K Annually: Merchant Services Sales Agents

Selling merchant services is popularly known to be very lucrative, but one of the most asked questions by many potential ISO agents is how much money can you make selling merchant services? They want to know whether they will be able to make a sustainable income from selling merchant products and services.

There is no straight answer to this popular question because the amount of money you make is dependent on the effort and handwork you put in. Those who have succeeded in selling credit card processing have shown exceptional dedication and hard work.

If you are wondering about how to become a merchant service provider and become successful in it, then hard work and dedication must be part of you.

Showing you the potential income that you can make selling merchant services is the simplest way to answer this burning question; how much money can you make selling credit card processing services?

According to research, selling credit card processing services has the potential to earn hardworking and determined agents over $100k per year.... Continue Reading

Details: North American Bancard ISO Agent Sales Partners

You'll receive 100% of commissions and 50-70% of residuals. As a Merchant Services Agent you will share income on every available revenue stream. With NAB, You Get a True Interchange Revenue Split. Unlike other merchant services ISO programs we do NOT charge 3 to 6 basis points off the top with a "Reserve Fee for Hidden Losses" or "BIN Sponsorship Fee." So you will earn more income with our 50/50 partnership, than you would with other processors who claim to offer a higher percentage because our transaction rates start at 0.0 basis points and just 1.5 cents per transaction over interchange and assessments.

Top Reasons to Partner with NAB:

1. Free Equipment: The best FREE TERMINAL program in the industry. At North American Bancard, we offer free terminals that are Apple Pay ready, EMV compliant that allow for tip-adjust.

2. Up to $20,000 Signing Bonus: After you get approved to sell with North American Bancard Agent Program, we will look at your first 4 months of production. As long as you board at least 20 new accounts we will pay you a fast start bonus of $75 to $150 per merchant. $75 per merchant if you board 20–49 deals, $100 per merchant if you board 50-74 merchants and a full $150 per merchant if you board 75 merchants or more!

3. Peak Bonus: 14 x Monthly Profitability We will pay you your activation / approval bonus upfront. However, we will then look at the profitability of your account after one full calendar month of processing and pay you 14 times NAB’s monthly profitability. Example: If North American Bancard retains $200 in residuals in that month, the peak bonus would be 14 x $200 or $2,800. You would have already been paid $600, so NAB would pay you an additional $2,200 on that account. This bonus is capped at a max of $5,000 per merchant per location. Remember, with our Cash Discount Program called “EDGE” it is easier than ever to earn huge bonuses with a 12x profitability bonus. Cash Discounting enables you to max out your Peak bonus at $5,000 on almost every merchant processing over $42,000 a month........... Keep Reading

Tips for Merchant Services Sales Training

Want to become a merchant services agent but don't know the basics of credit card processing sales training? Well, don't fret; we have an excellent guide dedicated to helping you UP your selling game. Once you know how to start selling merchant accounts (–hyperlink to the article' how to be a successful merchant services rep' that I wrote previously-), you just need to learn how to sell merchant services to potential clients, and you will be ready to make a good career out of merchant services sales rep business. Excited? Let's dive right in:

10 Practical Tips for Credit Card Processing Sales Training:

1. Find a Professional Merchant Services Agent Program:

The fundamental and most crucial part of your merchant services sales training is finding a processor that you can have a long-term ISO partnership with. Here are a few things to look for in a potential partner:

Should provide reliable service to your merchants and should not charge unfair fees
Should offer different benefits to the merchants like free signage or even some equipment
Should have an excellent support system where you can quickly reach their sales reps if you have any questions or if there is an issue with the merchant that needs to be solved quickly
Should offer you lucrative payment structure and bonuses
Should offer you learning opportunities and various training materials so you can learn about the business and the product the best way

Knowing these things will help you find a merchant services partner that you can work with for the long term and grow your business without any problems in the future................... Continue Reading

PROS and CONS: Sell Merchant Processing Services

All around the world, there are thousands of businesses that use vital services that are referred to as merchant services. These are services such as payment processing, which is what allows businesses to accept and process payments so that they can make a profit on their product. Without these services, businesses would be unable to function in the modern world. You might think that the fact that these services are an absolute necessity to these businesses make them an easy target for selling, but that is now always the case. There are definitely some positives as well as some negatives when selling merchant services.

This guide will show you some of each and hopefully give you some insight as to whether a career selling credit card processing services is right for you.... Continue Reading

Why North American Bancard is 2022 ISO of the Year

NAB believes in the American dream of opportunity for everybody. We believe in it because we live it daily. North American Bancard opened for business on day one the same way many entrepreneurial companies do - with just one employee and NO money coming in. Now, we have over 900 employees and process billions annually.

NAB has achieved success following the simple-focused mission of assisting businesses grow and prosper. Today, we have over thousands of happy merchants and ISO partners that can back up our commitment to that mission. By providing the best free equipment, industry-leading customer service and sales support, and the guaranteed best processing rates, we help our merchants grow because they have more cash to spend on their business-building needs. Our ISO partners benefit just as much. With unrivaled support, flexible compensation, and innovative, one-of-a-kind sales and management tools, our ISO partners have more money and time to spend on their own business-building projects. By providing every type of payment processing solution, we ensure our ISO partners have the ability to offer customized solutions to help drive both their and their merchants' success!..... Read More

Top Rated Merchant Services ISO Agent Programs - North America

If you've done any research at all, you've probably already realized that getting into the credit card processing field can be extremely profitable. Just about every serious business needs a merchant account, so the number of prospects that you could work with are countless and the market is ever-expanding as the economy recovers.

You might also realize, though, that becoming an ISO or a credit card processing company yourself can be expensive, but luckily this is not your only option when you're looking to break into this field. One of the best ways to get into the credit card processing industry is to start your career out as a sales agent. The upfront costs are minimal, and you can learn the business inside and out with a lot of room for growth. It's one of those coveted sales positions where you not only get commission at the time of the sale, but you usually receive residuals for the life of the account............ Read More

How to Choose the Best Credit Card Processing ISO Agent Programs

If you are a merchant services agent dealing with customers and clients on a daily basis, then you know the importance of working with one of the top credit card processing agent programs in the industry. With the right tools, you can expand your income as an agent and grow your network. However, that all begins with partnering with the right credit card processing ISO or agent program. Without the right partner to work with, you won’t have the right tools and selling points to effectively market your services to potential clients. This guide to the top credit card processing agent programs for agents will provide you with the guidance you need to make the right choice when it comes to credit card processing ISO agent programs to partner with...... Read More

How to Make HUGE Income Selling Merchant Processing Services

Do you want to become a merchant services agent but don’t know how to make a massive income selling credit card processing? Well, don’t fret, we will help you not only choose the best career in the merchant services field, but we will also help you understand how you can truly help your merchants save tons of money in fees while doubling your own income. If you are excited to know all of this then we suggest that you stick to this guide till the end: +

Which Career to Go For?

When you are selling merchant accounts, there are different models that you can choose from. You can go for the typical model of trying to reduce the fee paid by merchants in credit card processing. Or, you can also try to eliminate this fee, yes you read it right, you can make it vanish. The latter one is a more attractive career option as there are more chances of earning a decent amount. Most of the agents selling credit card processing will be trying their level best to reduce the fees that businesses pay for each transaction. However, if you come with your zero-fee solution, then who wouldn’t get your services? Every business likes to make as much profit as it can, which is why you will have a better chance of converting the merchants. Besides the merchants, you will be making way more money than you would’ve made when trying to reduce the merchant’s fee. Now you might be thinking, what is this zero-fee merchant services reseller program? Well, why not we explain it to you in detail and show you how it can increase your income...... Read More

Merchant Services Partner Program : Payment Processing Partnerships

Do you want to become a merchant services agent but don’t know which program to join? Well, then we can help you find one. We understand that you will have various questions in your mind, like do I really need to work with the best merchant services partner program? Or, what are the benefits that a good merchant services partnerships program can offer?

We will answer all of these queries and will also suggest the leading merchant services reseller program so you can kick start your career and make a decent income. With that said, let’s get started:

Is It Really Necessary to Work with the Best Merchant Sales Partner Program?

Yes, it is extremely crucial that you have the top merchant services reseller program working with you. There are many logical arguments that we can make here but to keep things short...... Keep Reading

HIGH RISK MERCHANT ACCOUNT PROVIDER - HOW TO BE A MERCHANT SERVICE AGENT - MERCHANT SERVICES SALES JOBS - BECOME A PAYMENT PROCESSOR - NORTH AMERICAN BANCARD AGENT PROGRAM - HOW TO START A PAYMENT PROCESSING COMPANY - BEST CREDIT CARD PROCESSING AGENT PROGRAMS

This website is designated to helping merchant services agents, ISOs and resellers obtain the most updated and accurate information. Get more details on the North American Bancard Agent Program and become a sales partner today!

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