As the world becomes increasingly digital, the demand for payment processing solutions has never been greater. Merchants across industries are looking for convenient and secure ways to accept electronic payments from their customers. This presents a lucrative opportunity for entrepreneurs looking to start their own merchant services company.

Becoming a merchant service provider can be a challenging endeavor, as the industry is highly competitive and constantly evolving. However, one way to quickly establish yourself in the market and offer a wide range of services is to partner with a white label payment provider.

In this comprehensive guide, we will explore the benefits of white label payment processing solutions for becoming a merchant service provider. We will also discuss key players in the industry such as North American Bancard, Shaw Merchant Group, and PayProTec, as well as provide tips on how to open a merchant services company, start a credit card processing business, and sell merchant services effectively.

What is White Label Payment Processing?

White label payment processing is a service provided by a third-party payment gateway or service provider that enables businesses to accept electronic payments under their own brand. In other words, the merchant service provider (MSP) partners with a white label provider to offer payment processing solutions to their customers without having to develop their own technology or infrastructure from scratch.

White label payment processing solutions typically include features such as credit and debit card processing, mobile payment options, online payment gateways, recurring billing, and fraud prevention tools. By partnering with a white label provider, MSPs can quickly expand their service offerings and provide a seamless payment experience to their customers.

Benefits of White Label Payment Processing Solutions for Merchant Service Providers

1. Fast and Easy Setup: One of the biggest advantages of white label payment processing solutions is that they allow MSPs to quickly set up their payment processing services without the need for extensive technical expertise or infrastructure. The white label provider handles the backend processing, compliance, and security measures, allowing the MSP to focus on acquiring and servicing merchants.

2. Custom Branding: White label payment solutions enable MSPs to offer payment services under their own brand. This helps to establish credibility and trust with merchants, as they are more likely to do business with a provider they recognize and trust.

3. Diverse Payment Options: White label payment processing providers typically offer a wide range of payment options, including credit and debit card processing, e-commerce solutions, mobile payments, and more. This allows MSPs to cater to the diverse needs of their merchant clients and offer a comprehensive suite of payment solutions.

4. Revenue Sharing: Many white label payment processing providers offer revenue sharing agreements with MSPs, allowing them to earn a percentage of the processing fees generated by their merchant clients. This can provide a lucrative source of passive income for MSPs and incentivize them to grow their client base.

5. Compliance and Security: White label payment processing providers are responsible for ensuring compliance with industry regulations and maintaining the highest levels of security for payment transactions. By partnering with a reputable provider, MSPs can rest assured that their payment processing services are secure and compliant with industry standards.

Key Players in the White Label Payment Processing Industry

1. North American Bancard: North American Bancard is a leading provider of white label payment processing solutions for MSPs. They offer a comprehensive suite of payment processing services, including credit card processing, mobile payments, virtual terminals, and more. With competitive pricing and advanced technology, North American Bancard is a top choice for MSPs looking to enter the payment processing industry.

2. Shaw Merchant Group: Shaw Merchant Group is another major player in the white label payment processing industry. They offer a range of payment solutions for businesses of all sizes, including credit card processing, e-commerce solutions, and mobile payments. With a focus on customer service and innovation, Shaw Merchant Group is a trusted partner for MSPs looking to expand their service offerings.

3. PayProTec: PayProTec is a leading provider of white label payment processing solutions for MSPs. They offer a wide range of payment options, including credit card processing, online payments, and mobile payments. With competitive pricing and customizable solutions, PayProTec is a popular choice for MSPs looking to start their own payment processing company.

How to Start a Merchant Services Company with White Label Payment Processing

1. Research the Market: Before starting a merchant services company, it's important to research the industry and understand the needs of merchants in your target market. Identify key trends, competitors, and opportunities for growth in the payment processing industry.

2. Choose a White Label Provider: Once you have a clear understanding of the market, it's time to choose a white label payment processing provider. Consider factors such as pricing, technology, customer service, and revenue sharing agreements when selecting a provider that aligns with your business goals.

3. Develop a Business Plan: Create a comprehensive business plan that outlines your target market, marketing strategies, revenue projections, and growth objectives. A well-thought-out business plan will help guide your decisions and position your merchant services company for success.

4. Obtain Necessary Licenses and Certifications: To operate as a merchant services company, you will need to obtain the necessary licenses and certifications from regulatory bodies such as the Payment Card Industry Data Security Standard (PCI DSS) and the acquiring bank. Ensure that you are compliant with all industry regulations before launching your services.

5. Build Relationships with Merchants: Once your merchant services company is up and running, focus on acquiring and servicing merchants. Build relationships with businesses in your target market and offer them a comprehensive suite of payment processing solutions to meet their needs.

6. Provide Exceptional Customer Service: To differentiate your merchant services company from competitors, focus on providing exceptional customer service to your merchant clients. Offer 24/7 support, accessible account managers, and personalized solutions to build long-lasting relationships with merchants.

7. Monitor Performance and Make Adjustments: Continuously monitor the performance of your merchant services company and make adjustments as needed to optimize your services and grow your client base. Stay informed about industry trends and technological advancements to stay ahead of the competition.

Conclusion

White label payment processing solutions offer a range of benefits for merchant service providers looking to establish themselves in the payment processing industry. By partnering with a reputable white label provider such as North American Bancard, Shaw Merchant Group, or PayProTec, MSPs can quickly expand their service offerings, earn passive income, and provide secure and reliable payment solutions to their merchant clients.

To start a merchant services company with white label payment processing, research the market, choose a white label provider, develop a business plan, obtain necessary licenses and certifications, build relationships with merchants, provide exceptional customer service, and monitor performance to make adjustments as needed. By following these steps and leveraging the benefits of white label payment processing solutions, you can successfully launch and grow your merchant services company in the competitive payment processing industry.

In today's digital age, credit card processing has become an essential service for businesses of all sizes. With the rise of e-commerce and online payments, the demand for efficient and secure payment processing solutions is higher than ever. As an independent sales agent, selling credit card processing services can be a lucrative opportunity to build a successful business and help merchants grow their revenue.

One of the leading payment processing providers in the industry is North American Bancard. With a strong reputation for reliability, customer service, and innovative technology, North American Bancard is a trusted partner for businesses looking to accept credit card payments. By becoming a North American Bancard Sales Partner, you can tap into their resources and expertise to offer competitive merchant services to your clients.

In this comprehensive guide, we will walk you through the process of selling credit card processing as an independent sales agent with North American Bancard. From understanding the basics of merchant services to establishing your own credit card processing company, we will cover everything you need to know to succeed in this competitive industry.

1. Understanding Merchant Services and North American Bancard

Before you can start selling credit card processing services, it's important to have a solid understanding of the merchant services industry and the role of payment processing providers like North American Bancard. Merchant services refer to the financial services that enable businesses to accept credit card payments from customers. This includes credit card processing, payment gateway services, and other related services.

North American Bancard is a leading payment processing provider that offers a wide range of merchant services to businesses in various industries. As a North American Bancard Sales Partner, you will have access to their comprehensive suite of payment solutions, including point-of-sale systems, mobile payment processing, and virtual terminals. By partnering with North American Bancard, you can offer your clients competitive rates, secure payment processing, and reliable customer support.

2. Joining the North American Bancard ISO Program

To become a North American Bancard Sales Partner, you will need to join their ISO Program. An ISO, or Independent Sales Organization, is a third-party company that sells credit card processing services on behalf of payment processing providers like North American Bancard. As an ISO, you will have the flexibility to set your own pricing, offer customized solutions to your clients, and earn competitive commissions on every sale.

To join the North American Bancard ISO Program, you will need to complete an application process and meet certain requirements set by the company. This may include a background check, credit check, and demonstration of your sales experience and expertise in the merchant services industry. Once you are approved as a North American Bancard ISO, you will receive training, marketing materials, and ongoing support to help you succeed in selling credit card processing services.

3. Setting Up Your Merchant Services Company

As a North American Bancard Sales Partner, you will have the opportunity to establish your own credit card processing company and brand. This can be a great way to differentiate yourself from other sales agents and build a strong reputation in the industry. To start your merchant services company, you will need to:

• Choose a business name and register your company with the appropriate government authorities.
• Set up a business bank account to manage your commissions and payments from North American Bancard.
• Create a professional website and marketing materials to promote your services to potential clients.
• Develop a sales strategy and target market to effectively reach out to merchants in need of credit card processing solutions.

By setting up your merchant services company, you can take control of your sales process and build a sustainable business that can generate passive income for years to come.

4. Selling Merchant Services to Your Clients

Once you have joined the North American Bancard ISO Program and set up your merchant services company, it's time to start selling credit card processing services to your clients. As a sales agent, your primary role is to educate merchants about the benefits of accepting credit card payments and showcase how North American Bancard can help them streamline their payment processing operations.

When approaching potential clients, it's important to highlight the following key selling points of North American Bancard's merchant services:

• Competitive rates and transparent pricing structures that can help merchants save money on credit card processing fees.
• Secure payment processing solutions that comply with industry standards and protect customer data from fraud and theft.
• 24/7 customer support and technical assistance to ensure uninterrupted payment processing for businesses of all sizes.
• Innovative payment solutions, such as mobile payment processing and virtual terminals, to help merchants adapt to changing consumer preferences and behaviors.

By demonstrating the value of North American Bancard's merchant services to your clients, you can establish yourself as a trusted advisor and help them make informed decisions about their payment processing needs.

5. Becoming a Registered ISO and Building Your Sales Team

As you grow your merchant services company and expand your client base, you may have the opportunity to become a Registered ISO with North American Bancard. A Registered ISO is a high-tier status that offers additional benefits and opportunities for sales agents, including higher commissions, dedicated support, and access to exclusive resources.

To become a Registered ISO, you will need to meet certain sales targets and performance metrics set by North American Bancard. This may include generating a minimum volume of credit card processing sales, maintaining a high level of customer satisfaction, and adhering to the company's code of conduct and ethical standards. By achieving Registered ISO status, you can unlock new revenue streams and position yourself as a top performer in the merchant services industry.

In addition to becoming a Registered ISO, you may also consider building your own sales team to help you scale your business and reach more clients. By recruiting independent sales agents and training them on the benefits of North American Bancard's merchant services, you can leverage their expertise and networks to expand your market reach and drive revenue growth.

6. Leveraging White Label Payment Services and Payment Gateway Reselling

In addition to selling credit card processing services directly to merchants, you may also consider leveraging white label payment services and payment gateway reselling to generate additional revenue streams for your merchant services company. White label payment services refer to outsourcing payment processing solutions under your own brand name, while payment gateway reselling involves reselling payment gateway services to merchants.

By partnering with white label payment service providers and payment gateway resellers, you can offer a wider range of payment processing solutions to your clients and generate recurring commissions on every transaction processed through your platform. This can help you diversify your revenue streams and provide more value to your clients by offering customized payment processing solutions that meet their specific needs and requirements.

7. Developing a Marketing Strategy and Promoting Your Services

To succeed as an independent sales agent selling credit card processing services with North American Bancard, it's important to develop a comprehensive marketing strategy to promote your services and reach out to potential clients. This may include:

• Building a strong online presence through social media, search engine optimization, and online advertising to attract leads and drive traffic to your website.
• Hosting webinars, seminars, and workshops to educate merchants about the benefits of accepting credit card payments and showcase the advantages of partnering with North American Bancard.
• Networking with industry professionals, attending trade shows and conferences, and joining merchant associations to connect with potential clients and build relationships with key stakeholders in the merchant services industry.

By developing a targeted marketing strategy and promoting your services effectively, you can increase your sales acumen and generate more leads and referrals for your merchant services company.

8. Staying Up-to-Date with Industry Trends and Best Practices

As a credit card processing sales agent, it's important to stay up-to-date with the latest industry trends and best practices to remain competitive and continue growing your business. This may include:

• Monitoring changes in payment processing regulations and compliance standards to ensure that your clients are protected and your business is in compliance with industry requirements.
• Keeping abreast of emerging technologies and innovations in payment processing, such as mobile payments, contactless payments, and biometric authentication, to offer cutting-edge solutions to your clients.
• Participating in ongoing training and professional development programs offered by North American Bancard and other industry organizations to enhance your skills and knowledge in the merchant services industry.

By staying informed about industry trends and best practices, you can position yourself as a trusted advisor and thought leader in the merchant services industry and differentiate yourself from competitors.

9. Conclusion

Selling credit card processing as an independent sales agent with North American Bancard can be a rewarding and lucrative opportunity to build a successful business and help merchants grow their revenue. By joining the North American Bancard ISO Program, setting up your merchant services company, and leveraging white label payment services and payment gateway reselling, you can establish yourself as a top performer in the merchant services industry and drive revenue growth for your business.

To succeed as a credit card processing sales agent, it's important to understand the basics of merchant services, build a strong network of clients and industry partners, and stay up-to-date with industry trends and best practices. By following the steps outlined in this comprehensive guide, you can position yourself for success and achieve your goals as a North American Bancard Sales Partner.

In today’s digital age, the payment processing industry is booming. With the rise of e-commerce and online businesses, the demand for secure and efficient payment solutions has never been higher. Payment service providers play a crucial role in facilitating transactions between businesses and their customers. If you are looking to enter this lucrative industry and become a payment service provider, this guide will provide you with a comprehensive roadmap to get started.

What is a Payment Service Provider?

A Payment Service Provider (PSP) is a company that enables businesses to accept electronic payments, including credit card transactions, through a variety of payment methods. PSPs act as intermediaries between merchants and financial institutions, facilitating the authorization, processing, and settlement of transactions.

Becoming a Payment Service Provider involves obtaining the necessary licenses and certifications, establishing relationships with acquiring banks and card networks, and setting up the infrastructure to process payments securely and efficiently. In this guide, we will walk you through the key steps to start your journey as a PSP.

1. Understand the Payment Processing Industry

Before diving into the world of payment processing, it’s essential to familiarize yourself with the industry landscape and the key players involved. Payment processing involves multiple parties, including merchants, customers, acquiring banks, card networks (such as Visa and Mastercard), payment gateways, and PSPs.

As a PSP, you will be responsible for providing merchants with the tools and services they need to accept electronic payments. This includes setting up merchant accounts, processing transactions, handling chargebacks and disputes, and ensuring compliance with industry regulations and security standards.

2. Obtain the Necessary Licenses and Certifications

To operate as a Payment Service Provider, you will need to obtain the necessary licenses and certifications to ensure compliance with industry regulations and standards. This may include registering as an Independent Sales Organization (ISO) or becoming a Registered ISO with a payment processor such as North American Bancard.

ISOs are companies that resell payment processing services on behalf of a larger payment processor. By becoming an ISO, you can access a range of services and support from the payment processor, including access to their network of acquiring banks, technology platforms, and marketing resources.

To become a Registered ISO, you will need to meet certain criteria set by the payment processor, including demonstrating financial stability, operational readiness, and a commitment to compliance with industry regulations. Once you have obtained the necessary licenses and certifications, you will be ready to start selling payment systems and merchant services to businesses.

3. Establish Relationships with Acquiring Banks and Card Networks

As a Payment Service Provider, you will need to establish relationships with acquiring banks and card networks to process transactions on behalf of your merchant clients. Acquiring banks are financial institutions that process credit and debit card transactions on behalf of merchants, while card networks such as Visa and Mastercard facilitate the transfer of funds between banks.

By partnering with acquiring banks and card networks, you can access their infrastructure and expertise to process payments securely and efficiently. This will involve setting up merchant accounts, configuring payment gateways, and implementing security measures to protect sensitive customer data.

4. Set Up the Infrastructure to Process Payments

Once you have obtained the necessary licenses and certifications and established relationships with acquiring banks and card networks, you will need to set up the infrastructure to process payments. This may involve integrating payment gateways, APIs, and other technology solutions to facilitate the authorization, processing, and settlement of transactions.

Payment gateways act as the interface between merchants, customers, and financial institutions, enabling the secure transmission of payment information. By integrating payment gateways into your platform, you can provide merchants with a seamless and secure payment experience for their customers.

5. Develop Sales and Marketing Strategies

To succeed as a Payment Service Provider, you will need to develop effective sales and marketing strategies to attract merchants and grow your business. This may involve targeting specific industries or verticals, offering competitive pricing and value-added services, and leveraging digital marketing channels to reach potential customers.

By offering merchants a range of payment processing solutions, including credit card processing, mobile payments, and online payment gateways, you can differentiate yourself from competitors and attract businesses looking for secure and reliable payment solutions.

6. Provide Ongoing Support and Training

As a Payment Service Provider, it is essential to provide ongoing support and training to your merchant clients to ensure they can make the most of your payment processing services. This may involve offering technical support, troubleshooting assistance, and training on how to use your payment system effectively.

By providing excellent customer service and support, you can build long-lasting relationships with your merchant clients and grow your business through referrals and word-of-mouth recommendations. Investing in training and support will help you establish a reputation as a trusted and reliable PSP in the industry.

7. Stay Up-to-Date on Industry Trends and Regulations

The payment processing industry is constantly evolving, with new technologies, regulations, and security standards shaping the landscape. As a Payment Service Provider, it is essential to stay up-to-date on industry trends and regulations to ensure compliance and maintain a competitive edge.

By attending industry conferences, joining trade associations, and networking with other PSPs, you can stay informed about the latest developments in the payment processing industry and adapt your business strategy accordingly. This will help you anticipate market trends, identify new opportunities, and position your company for long-term success.

Conclusion

Becoming a Payment Service Provider is a rewarding and challenging journey that requires dedication, expertise, and a commitment to excellence. By following the steps outlined in this guide, you can start your journey as a PSP and build a successful business in the payment processing industry.

Whether you are looking to start a credit card processing company, become a Registered ISO, or sell merchant services, there are ample opportunities in the payment processing industry for ambitious entrepreneurs and business owners. By obtaining the necessary licenses and certifications, establishing relationships with acquiring banks and card networks, and providing top-notch support and training to your merchant clients, you can differentiate yourself from competitors and thrive in this dynamic and fast-growing industry.

Remember, success as a Payment Service Provider requires a combination of technical expertise, business acumen, and a deep understanding of industry trends and regulations. By investing in your skills, knowledge, and relationships, you can build a successful and sustainable business as a PSP and help businesses of all sizes accept electronic payments securely and efficiently.

Credit card processing is an essential service for businesses of all sizes, allowing them to accept payments from customers using credit or debit cards. If you are interested in starting your own credit card processing company, also known as a merchant services company, there are several steps you will need to take to get started. In this comprehensive guide, we will walk you through the process of opening a credit card processing company, from obtaining the necessary licenses and certifications to building relationships with payment processors and acquiring merchants.

Understand the Industry

Before starting a credit card processing company, it is important to understand the industry and how it operates. Credit card processing companies act as intermediaries between businesses, customers, and financial institutions, facilitating the secure transfer of funds between these parties. There are several key players in the credit card processing industry, including payment processors, merchant account providers, and independent sales organizations (ISOs).

Payment processors are companies that facilitate payment transactions between businesses and financial institutions. Merchant account providers are financial institutions that provide businesses with merchant accounts to accept credit and debit card payments. ISOs are independent sales organizations that work with payment processors and merchant account providers to sell their services to businesses.

Obtain the Necessary Licenses and Certifications

In order to start a credit card processing company, you will need to obtain the necessary licenses and certifications to operate legally. These requirements vary depending on the state and country in which you plan to do business. In the United States, for example, you will need to register with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) and comply with the Payment Card Industry Data Security Standard (PCI DSS) to ensure the security of cardholder data.

Additionally, you may want to consider becoming a Registered ISO, which allows you to work directly with payment processors and offer your own branded merchant services. Becoming a Registered ISO requires meeting certain criteria set by the payment processor, such as having a minimum level of monthly processing volume and adhering to industry best practices.

Build Relationships with Payment Processors

Once you have obtained the necessary licenses and certifications, the next step is to build relationships with payment processors. Payment processors are companies that handle the authorization, settlement, and funding of credit and debit card transactions on behalf of businesses. By partnering with a reputable payment processor, you can offer competitive rates and services to your merchant clients.

One of the largest payment processors in the industry is North American Bancard, which offers a wide range of payment processing solutions for businesses of all sizes. By partnering with North American Bancard or another leading payment processor, you can access their network of financial institutions and offer your merchant clients a secure and reliable payment processing solution.

Acquire Merchants

With your relationships with payment processors in place, the next step is to acquire merchants to process payments through your credit card processing company. There are several strategies you can use to attract merchants, including offering competitive rates, providing excellent customer service, and leveraging your network of contacts in the business community.

As a credit card processing company, you will earn revenue by charging merchants a fee for each transaction processed through your payment system. It is important to set competitive rates and provide value-added services to attract and retain merchants. You may also want to offer additional services, such as point-of-sale systems, e-commerce solutions, and mobile payment options, to differentiate your offering from competitors.

Train and Support Agents

In addition to acquiring merchants, you may also want to recruit and train independent sales agents to sell your credit card processing services. These agents, also known as ISO agents, work on a commission basis and earn a percentage of the revenue generated from the merchants they sign up. By providing training, support, and resources to your ISO agents, you can build a strong sales force and expand your customer base.

To attract and retain ISO agents, you may want to offer competitive commission rates, ongoing training and support, and incentives for top performers. By investing in your sales force and providing them with the tools they need to succeed, you can build a successful credit card processing company and grow your business over time.

Provide Excellent Customer Service

One of the keys to success in the credit card processing industry is providing excellent customer service to your merchants. By offering 24/7 support, responding quickly to inquiries and issues, and resolving disputes in a timely manner, you can build trust and loyalty with your merchant clients. In addition, by staying up-to-date on industry trends and regulations, you can provide valuable insights and guidance to help your merchants grow their businesses.

By following these steps and staying focused on providing value to your merchants, you can build a successful credit card processing company and establish yourself as a trusted partner in the industry. With the right strategy, resources, and dedication, you can achieve your goal of becoming a leading merchant services provider and helping businesses thrive in today's digital economy.

In today's fast-paced digital world, accepting credit card payments has become a necessity for businesses of all sizes. Whether you are a small business owner or a large corporation, having a reliable merchant services provider is crucial to ensuring smooth transactions and satisfied customers. 

Merchant services ISO programs offer a unique opportunity for individuals and companies to become registered ISOs (Independent Sales Organizations) and provide payment processing services to businesses. These programs allow ISOs to sell payment systems, credit card processing services, and other merchant services to merchants in exchange for a portion of the transaction fees. 

When it comes to choosing the best merchant services ISO program, there are several factors to consider. Some of the top companies that offer excellent ISO programs include North American Bancard, Shaw Merchant Group, and PayProTec. These companies have a proven track record of providing top-notch services to their ISO partners and offer competitive pricing and support. 

To become a registered ISO and start selling payment processing services, there are several steps you will need to take. In this comprehensive guide, we will walk you through the process of opening a merchant services company, becoming a registered ISO, and selling merchant services to businesses. 

1. Research the Industry: Before diving into the world of merchant services, it's important to do your research and gain a solid understanding of the industry. Familiarize yourself with the different types of payment processing services, pricing models, and industry trends. This knowledge will help you make informed decisions as you start your journey as an ISO. 

2. Choose the Right Partner: When it comes to choosing a merchant services provider to partner with, it's essential to select a company with a strong reputation and track record. Look for providers that offer competitive pricing, excellent customer support, and a robust suite of services. Companies like North American Bancard, Shaw Merchant Group, and PayProTec are known for their reliable services and excellent ISO programs. 

3. Develop a Business Plan: Like any other business venture, starting a merchant services company requires careful planning and strategizing. Develop a business plan that outlines your target market, pricing strategy, marketing approach, and financial projections. This plan will serve as a roadmap for your business and help you stay on track as you grow your ISO business. 

4. Obtain Necessary Licenses and Registrations: To become a registered ISO, you will need to obtain the necessary licenses and registrations from the relevant authorities. This may include registering as an ISO with the credit card networks (such as Visa and Mastercard) and obtaining a merchant account from a sponsoring bank. Make sure to comply with all legal requirements to operate as a merchant services provider. 

5. Build Your Sales Team: As an ISO, your primary role will be to sell payment processing services to businesses. Building a strong sales team is crucial to growing your business and acquiring new customers. Recruit experienced sales professionals who are knowledgeable about the industry and can effectively communicate the benefits of your services to potential clients. 

6. Market Your Services: Effective marketing is key to attracting new customers and growing your merchant services business. Develop a strong online presence through a professional website, social media, and other digital marketing channels. Attend industry events, trade shows, and networking events to connect with potential clients and build relationships with key players in the industry. 

7. Provide Excellent Customer Service: Building long-term relationships with your clients is essential to the success of your merchant services business. Provide excellent customer service, respond promptly to inquiries, and address any issues or concerns in a timely manner. By delivering exceptional service, you will earn the trust and loyalty of your customers and keep them coming back for more. 

In conclusion, becoming a registered ISO and starting a merchant services company can be a rewarding and profitable venture. By partnering with a reputable merchant services provider, developing a solid business plan, and building a strong sales team, you can set yourself up for success in the competitive world of payment processing. Follow the steps outlined in this guide, and you'll be well on your way to becoming a successful merchant services provider.

In today's digital age, the demand for payment processing services is higher than ever. With e-commerce on the rise, businesses are constantly seeking efficient and secure ways to accept payments from their customers. This has created a lucrative opportunity for individuals looking to start their own payment processing business as a Registered ISO.

What is a Registered ISO?

A Registered ISO, or Independent Sales Organization, is a third-party entity that is authorized by a credit card processor (such as North American Bancard, Shaw Merchant Group, or PayProTec) to sell payment processing services on their behalf. This allows ISOs to offer merchant accounts, credit card processing equipment, and other payment solutions to businesses in need.

Becoming a Registered ISO can be a profitable venture, as ISOs typically earn a commission on every transaction processed through their merchant accounts. Additionally, as a Registered ISO, you have the flexibility to set your own pricing and fees, making it easier to attract and retain clients.

If you're considering starting a payment processing business as a Registered ISO, there are several steps you'll need to take to get started. In this comprehensive guide, we'll walk you through the process of becoming a Registered ISO and starting your own payment processing business.

Step 1: Understand the Industry

Before diving into the world of payment processing, it's important to have a solid understanding of the industry. Research the different types of payment processing services available, such as credit card processing, mobile payments, and online payment gateways. Familiarize yourself with the key players in the industry, including major credit card processors and ISOs.

It's also essential to stay up-to-date on industry trends and developments, as the payment processing landscape is constantly evolving. Consider attending industry conferences and networking events to connect with other professionals in the field and learn from their experiences.

Step 2: Choose a Credit Card Processor

One of the first decisions you'll need to make as a Registered ISO is choosing a credit card processor to partner with. Consider factors such as the processor's reputation, fees, and customer support services when making your decision. Some popular credit card processors to consider include North American Bancard, Shaw Merchant Group, and PayProTec.

Each processor offers its own set of services and features, so take the time to research and compare your options before making a decision. You may also want to reach out to other ISOs who have partnered with the processor to get their feedback on their experience.

Step 3: Set Up Your Business

Once you've chosen a credit card processor to partner with, you'll need to establish your own payment processing business. This includes registering your business with the appropriate government agencies, obtaining any necessary licenses or permits, and setting up a business bank account.

You'll also need to establish relationships with banks and financial institutions in order to set up merchant accounts for your clients. This will allow you to accept credit card payments on behalf of businesses and process transactions through your chosen credit card processor.

Step 4: Develop a Business Plan

As with any business venture, it's important to develop a comprehensive business plan for your payment processing business. This plan should outline your business goals, target market, pricing strategy, and sales and marketing tactics.

Consider creating a detailed budget that outlines your startup costs, ongoing expenses, and projected revenue. This will help you track your progress and make informed decisions as your business grows.

Step 5: Market Your Services

Once your payment processing business is up and running, it's time to start marketing your services to potential clients. Consider creating a professional website that showcases your services and highlights your expertise in the industry.

You can also leverage social media platforms such as LinkedIn, Facebook, and Twitter to reach out to potential clients and build relationships with businesses in need of payment processing services. Consider offering special promotions or incentives to attract new clients and differentiate yourself from competitors.

Step 6: Provide Excellent Customer Service

As a Registered ISO, providing excellent customer service is essential for building trust with your clients and retaining their business. Make sure to respond promptly to client inquiries and resolve any issues or concerns in a timely manner.

Consider offering training and support services to help your clients get the most out of their payment processing solutions. By going above and beyond to meet your clients' needs, you'll build a loyal customer base that will help your business thrive.

Step 7: Stay Informed and Adapt

The payment processing industry is constantly evolving, with new technologies and regulations shaping the landscape. As a Registered ISO, it's important to stay informed about industry trends and developments so you can adapt your business strategies accordingly.

Consider joining industry associations and subscribing to industry publications to stay up-to-date on the latest news and insights. By staying informed and adaptable, you'll be better equipped to navigate the ever-changing world of payment processing and grow your business successfully.

Conclusion

Starting a payment processing business as a Registered ISO can be a rewarding and profitable venture, but it requires careful planning and dedication. By following the steps outlined in this comprehensive guide, you can set yourself up for success and build a thriving payment processing business that meets the needs of businesses in search of secure and efficient payment solutions.

Remember to research the industry, choose a reputable credit card processor to partner with, set up your business, develop a business plan, market your services, provide excellent customer service, and stay informed and adaptable. By following these steps and staying committed to your business goals, you can become a successful Registered ISO and start a payment processing business that helps businesses thrive in the digital age.

Starting a payment processing business can be a lucrative venture in today's digital economy. As more and more businesses transition to accepting digital payments, the demand for payment processing services continues to grow. In this report, we will discuss the steps to starting a payment processing business, the benefits of white label payment processing, and how to sell credit card machines to small businesses.

How to Start a Payment Processing Business

1. Conduct Market Research: Before starting a payment processing business, it is important to conduct thorough market research to understand the competitive landscape, target market, and industry trends.

2. Choose a Business Model: There are different business models to consider when starting a payment processing business, including becoming a reseller, ISO/MSP, or payment facilitator. Each model has its own pros and cons, so it is important to choose the one that aligns with your business goals.

3. Obtain Necessary Licenses and Certifications: Depending on your business model and location, you may need to obtain licenses and certifications to operate legally. This may include registering with card networks like Visa and Mastercard, as well as complying with industry regulations such as PCI DSS.

4. Partner with Payment Processors: To offer payment processing services, you will need to partner with payment processors that can facilitate transactions on behalf of your business. It is important to choose reputable processors with competitive rates and reliable service.

5. Develop a Marketing Strategy: Once you have set up your payment processing business, it is important to develop a marketing strategy to attract clients. This may include creating a website, attending industry events, and leveraging social media to promote your services.

6. Provide Excellent Customer Service: Customer service is key in the payment processing industry, as clients rely on timely and efficient processing of transactions. By providing excellent customer service, you can build trust and loyalty with your clients.

Benefits of White Label Payment Processing

1. Branding Opportunities: White label payment processing allows businesses to brand the service as their own, providing a seamless experience for customers.

2. Increased Revenue: By offering white label payment processing services, businesses can generate additional revenue streams through transaction fees and service charges.

3. Scalability: White label payment processing can be easily scaled to accommodate growing businesses, without the need for significant investment in infrastructure.

4. Customization: White label payment processing services can be customized to meet the specific needs of different industries and business types, providing a tailored solution for clients.

5. Compliance and Security: White label payment processing services are typically managed by established providers that adhere to industry regulations and security standards, ensuring compliance and data protection.

How to Sell Credit Card Machines to Small Businesses

1. Identify Target Market: When selling credit card machines to small businesses, it is important to identify your target market based on industry, size, and location.

2. Understand Customer Needs: Before approaching potential clients, take the time to understand their specific needs and pain points related to payment processing.

3. Offer Competitive Rates: Small businesses are often price-sensitive, so it is important to offer competitive rates and transparent pricing for credit card machines and processing services.

4. Provide Training and Support: Small businesses may lack experience with payment processing technology, so it is important to provide training and ongoing support to ensure a smooth transition.

5. Highlight Benefits: When selling credit card machines to small businesses, highlight the benefits of accepting digital payments, such as increased sales, improved customer experience, and enhanced security.

6. Build Relationships: Building relationships with small businesses can lead to long-term partnerships and referrals, so it is important to prioritize customer service and follow-up with clients.

Conclusion

Starting a payment processing business can be a rewarding endeavor with the potential for growth and profitability. By following the steps outlined in this report, entrepreneurs can establish a successful payment processing business, leverage white label payment processing for branding opportunities, and effectively sell credit card machines to small businesses. With the right strategy and dedication, entrepreneurs can capitalize on the growing demand for digital payment solutions in today's market.

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 merchant services is right for you.

Pros

Undoubtedly, there are some very positive aspects of selling merchant services for a living. If you have had a sales job that is similar in the past, you already have known some of these benefits. Here are some of the best things about selling merchant services.

There is Always a Market

One of the best things about working in the merchant services industry is that there is never a lack of demand for these services. There are always new businesses sprouting up as people chase their passion for owning their own business. And existing businesses are always evaluating their options and ensuring that they are getting the best deal on the market. For that reason, you won’t ever have to worry about the industry as a whole drying up. People will always need to spend digital money and businesses will always need to find a way to accept it.

Set Your Schedule

For many that are in a commission-based sales job, one of the greatest benefits of it is being able to get to the point where you are working when you want to work instead of punching a time clock when you get to work. When you are a partner in a merchant services ISO agent program, you will be able to set your appointments on a schedule that works well for you.

Build Passive Income

Finding and signing clients to lucrative merchant processing contracts is hard work, nobody denies that. However, all of the hard work that you put into this process could end up paying out tenfold throughout the years. One of the greatest things about being a merchant services salesperson is that your accounts can earn you passive and residual income long after you have closed them to a contract. This could help you build passive income for years to come and eventually phase out the bulk of the labor that is involved in this career.

High Commission Rates

When you compare merchant services to other industries out there, you will find that it has a very competitive and comparatively high commission rate compared to those other industries. The high price of the contracts and the fact that they continue to pay out for years to come is what makes these sales so valuable and why some of the best salespeople in the world turn to merchant services when they want to increase their earning potential.

Cons

Just as there are many pros to selling merchant services, there are also some aspects that could prove difficult. You should watch out for these aspects and consider whether they are something that you are able to overcome and overlook.

Highly Competitive Industry

There is always a lot of demand for merchant services, but this fact also means that there is a lot of competition. One of the hardest aspects of selling merchant services is that you will always have competition breathing down your neck, waiting to provide your client with a better rate. This is really where your ability to create and nurture relationships will come in handy with client retention. This industry is not for those that don’t like competition and healthy capitalist tendencies.

Dependent on Success to Make Money

When you are a merchant services representative in any industry, you know that your ability to make money is heavily dependent on the success that you have when selling your product or service. It’s no different in selling credit card processing accounts. If you want to have a good income, then you will need to become skilled at selling these products. If you don’t feel confident that you can do that, then it might not be the right choice for you.

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 company. I am also going to take you through the fine details of planning, setting up, and starting a 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 merchant service provider 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.

What It Takes To Become a Credit Card Processing Agent:

The credit card processing industry is very dynamic, and the success of becoming a merchant services agent is both easy and hard.

There are a few things that you need to know; some of these include having a clear understanding of how selling credit card processing works. You will also need to have deep knowledge of how credit cards work and what they do.

Another overly important thing that you will need to understand is your market and, most importantly, your niche market. This way, you will be able to connect with your customers on a personal level. In addition, you will also be able to create a solid relationship with banks for financial transactions and payment processing.

Market Feasibility and Niche Research

It is critical to note that any successful venture always starts with thorough research. When you want to become a credit card processing agent, you will need to do thorough market research.

Understand the type of services or products you will be offering and where your clients are and their needs.

Make sure that you look at the services offered by your competitors, their rates, and also how satisfied their customers are with the services they get.

The few steps you can take to become a merchant services reseller are to first create a survey on several businesses in your area, determine the most common services they use, and evaluate the satisfaction level of customers with their current payment providers.

Another important step that you need to take is to gather client information, such as phone numbers or email addresses. These details will help you when you start sending out pitches.

Crafting a Comprehensive Business Plan

For you to become a credit card processing agent and be successful in it, you will need to come up with a detailed business plan.

It is okay if you are not a seasoned writer, but you can hire one to do the work for you. Better still, there are several business plan templates available online that you can use.

There are several details that need to be included in your business plan; some of these details include:

• How you intend to run your venture
• The executive summary about your business
• How you intend to raise startup capital
• Products and services you will be offering
• Marketing and sales analysis
• SWOT analysis
• And more

Ideally, the business plan for a credit card processing company can serve as proof to investors and stakeholders that you are serious about with your venture as the document shows all the strategies.

A great business plan can help you win funding from various investors and banks.

How to Finance Your Credit Card Processing Business

Most business requires a startup capital; the same case applies to credit card processing companies.

To become a credit card processing agent, you need to consider where you are going to get funding to start your venture. You will also need to cater for all the operational costs until you start realizing some profits.

According to research, on average, a minimum of $51,000 is needed to start a payment processing company.

There are options that you can use to get financing for your credit card processing company, some of these options include;

• Getting a loan from banks
• Approaching investors
• Getting funding from business partners
• Using your savings or selling assets to raise funds
• Sourcing some funds from friends and family members.

Startinging Your Merchant Services Company

Once all the above are set up, you can go ahead and launch your credit card processing company. There are other finer details that you will need to consider before you do this. These include finding the appropriate location for your business, understanding the requirements which you must have beforehand, and understanding the manpower needed to run the business.

To become a payment service provider, you should fully implement your business plan. The best way is to strictly follow the plan without cutting corners.

Tip: Due to the competitive nature of the credit card processing business, it is critical to ensure that your business stands out.

Put more efforts to stand out among your competitions. The best way to do this is to have a business network. You can reach out to organizations and corporations to widen your reach and customer base. 

Marketing Plan for Your Credit Card Processing Company

• Just like any other business, a marketing plan is a must. You can do all the above work, but if you don’t come up with an effective marketing plan, you might fail.
• Take your marketing strategies seriously. The following are some effective marketing ideas that you can use.
• Use social media platforms to spread the word about your business
• Reach out to stakeholders, clients, and managers of big corporations
• Make sure that your business is listed in local directories
• Use TVs, magazines, newspapers, and radio to advertise your business
• Start bidding for available contracts

To further increase your reach to potential clients, you can create business cards, flyers, pamphlets, or business website.

Tips to Help You Run a Successful Credit Card Processing Business

In order to succeed in starting a processing processing company, understand that you will not only be providing requirements and services to help process payment for customers BUT also, you will be selling yourself. As a credit card processor, you will need to clearly show potential clients why they need your services. Show them the benefits they will get from your services. Never seize to reach out to potential customers. In addition, ensure that you do a follow up on those pitches. To simplify the process of becoming a credit card processing agent, Shaw Merchant Group provides all the tools you need for a successful credit card processing business.

If you want to enter into the massive merchant services sales industry, then we would like you to stop right there. Before taking the plunge, there are a few things you should know. You need to have a clear idea of this industry and whether a credit card processing sales job is even your cup of tea or not.

We will help you know some simple yet important facts about selling credit card processing in this guide and will also provide you with useful tips to jumpstart your career as a merchant services agent. So with that said, let’s get started:

Why is it Important to Know?

Before we move towards knowing some important facts about the merchant services sales programs, the question that might come to your mind is, why bother knowing these things? Well, to be honest, there are a lot of factors involved when it comes to getting merchant services sales jobs, it’s not as easy as approaching the merchant, pitching the service and closing the deal.

Things can be both easy and difficult, which is why you need to set your expectations straight. So instead of jumping into a river without gauging its depth, it is better that you know how deep it runs. Therefore, we will tell you both the good and the bad of the merchant services sales industry.

These advantages and drawbacks will help you understand what to expect from it and whether it is the right field of work for you or not. So follow along and learn some of the most important things about selling credit card processing.

Benefits of Selling Merchant Services

There are plenty of benefits in the merchant services careers, which is why many opt for this route. If you are persistent and work very hard, you will enjoy a high income and many benefits that come with it. Here are a few advantages of working in the credit card processing sales industry:

Excellent Earning Potential

The basic need for everyone is the money, the sole motivating factor that makes you want to work for hours without looking at the clock. Well, the good thing is that this job is based on commissions. So you will be paid for the amount of work you put in and not like corporate jobs where you give 12 hours daily for a fixed pay.

However, if you ask an accomplished merchant services agent, he will tell you that the money doesn’t come easy and is certainly not handed to you on a silver platter. To make a killing in the industry, you need to work very hard, build a network, and be persistent.

There are also several bonuses offered by credit card processors for achieving X amount of sales that add to your overall earnings. So once your business takes off, you can then enjoy a vacation on the beaches of Bali while sipping your fresh piña colada.

Flexible Schedule

The best thing about working in the merchant services sales industry is that you are your own boss. There is no one looking at you with a microscope waiting for you to make a mistake. You can work on your own terms and in your timings as long as you are getting sales because sales pay the bills in this game.

You can approach any business you want, wherever you want and whenever you want to make your pitch. There will be no one calling you and asking you why you haven’t reached the office yet; your dining table is your office.

Tons of Surprises

If you are someone who cannot deal with a monotonous routine and the same kind of office-based work, then this is the job for you. You will start your day not knowing what’s in store for you because you get to meet lots of new people in this line of work.

Different merchants will need different tactics and pitches for the deal to close. So you will have to adapt to the situation, work any problems that may arise, and learn something new every day. If you are someone who loves this kind of work, then you will definitely have higher job satisfaction.

Drawbacks of Selling Merchant Accounts

Remember, nothing, and I repeat nothing is always rainbows and sunshine. Not even rainbows and sunshine are always there on the sky. So you cannot expect the merchant services sales job to be a walk in the park. There will be some drawbacks, just like there are with all types of jobs. If you are someone who is ready to face challenges and come up with new ways to achieve their goals, then you might not be affected by these downsides very much. That being said, let’s see what they are:

Repeated Rejections

Yes, this will happen. Every sales job comes with complimentary rejections, which an agent has to accept. Selling merchant services is no different. You will likely face two types of merchants when it comes to rejections. The first ones are those who already have a credit card processing provider, and they are satisfied with it.

The second ones will be those who just don’t want this facility or those who don’t have time to talk to you. You can persuade these people to an extent, and some might convert. I know getting rejected is tough, but you will have to take it like a man and move one to another merchant, there are plenty of them out there.

Soaring Competition

Yes, there are thousands of merchant services agents out there just like you. But don’t let the high competitive environment bring you down. If you have the key ingredients of becoming a successful credit card processing agent then nothing will stop you from getting ahead of the competition.

Plus, you have to be a bit creative in selecting the location to target, maybe a new mall, or a complex? You will have to figure things out as you go and not leave any stones unturned in getting ahead of the competition.

Things You Can Do To Have a Strong Start as Merchant Services Agent:

Now that you know the good and bad sides of the merchant services sales industry, it is time we give you a few pointers on kick-starting your career.

• Establish Goals: Being a sales agent means you need to manage yourself because there is no one at your back, making plans for you. You need to set targets like closing X amount of deals in Y number of days. And then work with all your strength and capabilities towards achieving the targets. Once you do, reward yourself with something you like.
• Strong Networking: Being a new agent means no one really knows you. So you need to get yourself out there and have more exposure. Visit potential merchants, have a chat with them, help them out with anything related to credit card processing for free, and slowly and gradually build trust. Once they know you are knowledgeable and helpful, they will either get your service or refer their fellow merchants to you.
• Understand What You Offer: Speaking of knowledge, you should first increase it to be able to help and educate merchants. Credit card processing is a vast sea, and you need to cover its every aspect. Learn about the services, equipment, and value you are offering so you can better communicate with the potential merchants and pitch them more effectively.
• Follow Up: No matter how the dealing with a potential merchant went, always follow up. After contacting a merchant for the first time, don’t let them forget who you are or what you offer. This doesn’t mean you start visiting their home, but rather, say Hi every now and then. If, after some time, you feel your efforts are going somewhere, keep pursuing otherwise move on to a different merchant.
• Offer Excellent Support: One of the main things that you will sell is support and not the service itself. When things are a bit technical, like credit card processing, people purchase the person selling them and not just the product/service. This means that they will buy trusting your word, and you will have to be there for them whenever you are required. This will not only retain your current merchants but also build your credibility in the industry.

Parting Words:

Many jump into the credit card processing sales industry hoping to build successful merchant services ISO; however, only a handful of them manage to do so. Do you know why? Because the ones that fail expect a lot at the initial level. And the ones that win just keep their heads down until they can live with their heads high. There is a difference in IMPOSSIBLE and IMPOSSIBLE. You just need to be persistent, work hard, and have patience; you will make a successful career a possibility one day.

Want to become a merchant services agent but don’t know which merchant services ISO agent program is right for you? Well, why don’t we solve this problem for you? This guide is specifically created to help people who are stepping their toe into the vast sea of merchant processing. By the end of it, you will have a pretty clear idea of how to find a good processor.

10 Things You Need to Consider in a Merchant Services Agent Program

We will tell you 10 factors that you need to consider when looking for a viable, credible merchant services agent program. This way, you will ensure that there are no problems later on in your career as a credit card processing agent. With that said, let’s get started:

1. Fast Funding:

One of the most important things to look for in a merchant services ISO agent program is their funding period. Clients should not have to face delays in terms of funds transfer after a transaction is made. One of the most attractive and compelling features of a good merchant services ISO program is that the merchants get their funds the same day.

This is what attracts most of the merchants as they do not want their earnings to be kept by a 3rd party for more than a day. You will also be able to sell this kind of program better because of the speedy service.

2. Several Discounts:

When you are deciding to become a merchant services agent, go for the processor that offers a cash discount program. Simply put, it is a payment processing tactic where the fee of a particular credit card transaction is offset to the customers. This means that the merchant will not have to pay any transaction fee, the customers are using the facility instead of paying in cash, so it should be them who bear the cost.

The best cash discount program allows merchants to do just that! The algorithm of POS software is already trained to charge the percentage of fees levied on each transaction from the customer. Plus, some of the top merchants also provide free signage that educates customers about the fee on a credit card transaction, so there are no surprises at the end.

3. Dealing in High-Risk Industry:

There are many that become a credit card processor, but they have a very low-risk appetite. This means they will only deal in safer industries and not offer services to risky businesses like medical marijuana stores, travel agencies, and pharmacies etc. Now you might not work with these businesses when starting out, but soon, when your business grows, you will have to get clients from high-risk industries.

So if the credit card processor doesn’t deal with these industries, then you will be limited to a few fields which will put a cap on your growth potential. So instead of finding a merchant dealing with high-risk industries later on, you need to work with one from the start.

4. Assistance in Marketing:

As a credit card processing agent, you will need several marketing resources at your disposal to close sales. One of them is a team assisting you with lead capturing and turning the cold ones into warm leads. A terrific processor will have excellent merchant support that will help you convert more merchants with minimal energy, time, and resource exhaustion.

Plus, some of the excellent credit card processors also have their own landing pages designed to show to your potential customers. These landing pages can take several hundred dollars to make, but the processor will offer you for free, making your conversion process easier.

5. Flexible Plans:

One of the most necessary parts of working with a merchant services ISO program is to get paid properly and on time. You do not want to be underpaid, so make sure to work with a processor that offers a fair share of the income to you. Also, they must have lucrative bonuses if you go out of your way to close a specific number of sales in X amount of time.

You need to properly analyze the contract you will sign with them and check their payment terms, make sure to work with a company that pays on time.

6. Merchant and Income Analytics:

The best part of working with the top credit card processors in the industry is that they leverage technology to make things easier for their agents. A good processor will provide you with your own dashboard that will display various performance metrics like the number of sales you closed, your earnings, number of clients, and more.

Some even go the extra mile and provide data on merchants as well. You might be able to see the number of transactions they make and even get information on individual transactions.

7. Equipment and Software:

Many become a registered ISO for merchant service providers, but they do not work on their equipment and its advancement. The credit card processor must provide you with the necessary technology that you can offer to your clients and seal the deal. A good processor should offer these equipment and facilities:

• Point of Sale terminals to suit the needs of merchants
• Smart online payment options
• Facility of mobile payments
• Support loyalty programs and gift cards
• Fast processing with minimal errors As for the software, they must have up to date, user-friendly software in their equipment, allowing merchants to complete the transaction process smoothly.

8. Excellent Support:

Besides the marketing assistance that we discussed above, the merchant services provider should offer fast, responsive, and friendly customer services. You don’t want to find yourself in a situation where your customers are facing any issues that need to be solved, and you cannot get in touch with the processor’s customer support to fix them.

In this case, even if the problem is not caused by you, you will be the one facing the consequences if you cannot get a customer support agent to solve the problem. The merchant might stop using the processor, and that will result in your financial loss.

So before you decide on working with a merchant, you need to ensure that they have a dedicated customer support team that can quickly answer your questions and solve any problems as soon as possible.

9. Multiple Boarding Options:

Look for a program that provides different boarding options from big payment processing platforms like EPX, First Data and Global Payments. Being able to access these programs means complete peace of mind for both you and the merchants.

Because there will be fewer chances of facing any integration or technological problems when connecting the POS or billing software of the merchant with the platforms your program uses. This will ensure your whole sales process goes smoothly, and you don’t lose a ready-to-convert client at the last moment.

10. Must Be Credible:

Lastly, you need to do your complete due diligence in finding everything about the company you can. They should not have a shady track record, damaged reputation, or bad reviews on the internet.

You need to work with a company that has the face of its CEO attached to it, has a brick and mortar headquarter, and is licensed to operate.

Plus, keep your eyes peeled for any too good to be true bonuses or discounts; these things come with bad surprises later on.

Is There Any Program With These Qualities?

Glad you asked, I was wondering that I have written 10 points for you to look in a company so it might be challenging to find one that meets this criterion. Well, let me make things simple for you by introducting North American Bancard. They are excellent at what they do, and their core focus is to benefit their agents and merchants. Have a look at a few of their key features:

• They have Global Payments, EPX and First Data powered merchant accounts
• Their terminals work with both credit and debit cards. Plus, they support both EMV and NFC based methods of payment
• They also support mobile payments via PayAnywhere technology
• Their PayAnywhere feature also works with storefront point of sale system
• Automated cash discounting
• They have web-based terminals that provide agents with all the details of their performance and the specifics of their merchants
• Very attractive signup and profitability bonuses

Parting Words:

If you have successfully made it to the end, then it means you already know about the key things to look for to find the cream of the crop credit card processing company. We have also suggested the leading program with all the qualities discussed in this guide. So it is fair to say that you have everything you need to get started on your journey to working as a merchant services representative. You just need to take the first step and make a career doing what you really want to do.