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North American Bancard
Tuesday, November 14 2023
How to Sell Credit Card Processing to Businesses: Success Guide

In today's fast-paced digital economy, businesses of all sizes rely heavily on credit card processing services to accept payments from customers. As a result, the credit card processing industry has become highly competitive, with a wide range of providers vying for business from merchants. If you are looking to enter this lucrative industry, there are several key steps you can take to become successful in selling credit card processing services to businesses.

1. Understanding the Credit Card Processing Industry

Before diving into the world of selling credit card processing services, it's important to have a solid understanding of the industry as a whole. Credit card processing involves the authorization, processing, and settlement of credit card transactions for merchants. This process typically involves a merchant account provider, a payment gateway provider, and the credit card networks (Visa, MasterCard, etc.).

There are several types of players in the credit card processing industry, including merchant account providers, Independent Sales Organizations (ISOs), and payment processors. Merchant account providers are financial institutions that provide businesses with merchant accounts to accept credit card payments. ISOs act as intermediaries between merchants and merchant account providers, offering merchant services to businesses. Payment processors are technology companies that facilitate the processing of credit card transactions.

2. Becoming a Registered ISO

One way to enter the credit card processing industry is to become a Registered ISO. Being a Registered ISO allows you to offer merchant services directly to businesses, rather than acting as an intermediary. To become a Registered ISO, you will need to partner with a larger merchant account provider or payment processor, such as North American Bancard.

Partnering with a reputable company like North American Bancard can provide you with the infrastructure, support, and resources you need to start offering credit card processing services to businesses. North American Bancard offers a Merchant Services ISO Program that allows ISOs to white label their payment solutions and offer them to businesses under their own brand.

3. How to Sell Credit Card Processing Services

Once you have become a Registered ISO and have partnered with a merchant account provider like North American Bancard, it's time to start selling credit card processing services to businesses. There are several key strategies you can use to attract and retain merchant clients:

  • Identify your target market: Before you can start selling credit card processing services, you need to identify your target market. This could be small businesses, e-commerce merchants, or specific industries like restaurants or retail stores.
  • Understand your products and services: Familiarize yourself with the credit card processing solutions offered by North American Bancard, as well as any additional services you may offer. This will allow you to effectively communicate the benefits of your services to potential clients.
  • Build relationships with merchants: Establishing relationships with potential merchant clients is key to selling credit card processing services. Attend networking events, trade shows, and industry conferences to connect with businesses in need of credit card processing solutions.
  • Offer competitive pricing and value-added services: In a competitive industry like credit card processing, offering competitive pricing and value-added services can help you stand out from the competition. Consider offering equipment leasing, chargeback protection, or other services to attract and retain merchant clients.


4. Starting a Payment Processing Company

If you are looking to take your career in credit card processing to the next level, you may consider starting your own payment processing company. Starting a payment processing company can be a complex and challenging process, but with the right planning and resources, you can build a successful business.

To start a payment processing company, you will need to:

  • Develop a business plan: Create a detailed business plan that outlines your goals, target market, pricing strategy, and marketing plan. This plan will serve as a roadmap for your business and help you secure funding from investors or lenders.
  • Obtain the necessary licenses and certifications: Before you can start processing credit card transactions, you will need to obtain the necessary licenses and certifications. This may include registering as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) and obtaining a Payment Card Industry Data Security Standard (PCI DSS) compliance certification.
  • Build relationships with banks and financial institutions: To process credit card transactions, you will need to partner with a bank or financial institution that can provide you with access to the credit card networks. Establishing relationships with banks and financial institutions can help you secure the resources and support you need to start your payment processing company.
  • Invest in technology and infrastructure: Building a payment processing company requires investing in technology and infrastructure to securely process credit card transactions. Consider partnering with a payment gateway provider or technology company to help you build a secure and reliable payment processing platform.

Selling credit card processing services to businesses can be a lucrative and rewarding career path, but it requires a solid understanding of the industry, a strategic approach to sales and marketing, and a commitment to providing excellent customer service. By becoming a Registered ISO, partnering with a reputable merchant account provider like North American Bancard, and following the strategies outlined in this comprehensive guide, you can become successful in selling credit card processing services to businesses. Whether you are looking to start your own payment processing company or become a credit card processing agent, there are endless opportunities for growth and success in the credit card processing industry

Posted by: Admin AT 08:07 pm   |  Permalink   |  Email

As the world becomes increasingly reliant on digital payments, there is a growing demand for payment processing services. Independent sales agents have a unique opportunity to capitalize on this trend by selling payment processing solutions to businesses of all sizes. In this comprehensive guide, we will discuss everything you need to know about selling payment processing as an independent sales agent, from choosing the right partner to maximizing your earnings.

What is Payment Processing?

Payment processing is the process of electronically authorizing and facilitating transactions between a customer and a business. This typically involves the use of credit and debit cards, as well as other forms of digital payment such as mobile wallets and ACH transfers. Payment processors act as intermediaries between merchants and financial institutions, ensuring that transactions are secure and efficient.

Why Sell Payment Processing?

There are several reasons why selling payment processing can be a lucrative venture for independent sales agents. First and foremost, the demand for payment processing services is only expected to increase as more businesses transition to digital payments. Additionally, payment processing is a recurring revenue stream, meaning that agents can earn commissions on each transaction processed by their clients.

Choosing the Right Partner

One of the most important decisions you will make as an independent sales agent is choosing the right partner to work with. There are many payment processing companies in the market, but not all of them offer the same level of support and resources for their sales agents. North American Bancard (NAB) is one of the leading payment processing companies in the industry, known for its competitive rates and robust agent support program.

Becoming a Registered ISO

One way to maximize your earning potential as a payment processing agent is to become a Registered ISO, or Independent Sales Organization. Registered ISOs have the ability to sign up sub-agents under their umbrella, allowing them to earn commissions on the sales made by their recruits. To become a Registered ISO, you will need to meet certain requirements set forth by the payment processing company you are working with, as well as obtain the necessary certifications and licenses.

Credit Card Processing ISO

Another option for independent sales agents looking to expand their business is to become a Credit Card Processing ISO, or Independent Sales Agent. Credit Card Processing ISOs have the ability to offer a wide range of payment processing solutions to their clients, including credit card processing, ACH transfers, and mobile payment solutions. This can help you attract a wider range of clients and increase your earning potential.

How to Sell Credit Card Processing

Selling credit card processing services requires a strategic approach and a deep understanding of your clients' needs. To be successful in this competitive market, you will need to differentiate yourself from other agents by offering personalized solutions and excellent customer service. Some key tips for selling credit card processing include:

  • Understanding the needs of your clients and tailoring your solutions to meet their specific requirements
  • Educating your clients on the benefits of payment processing and the security measures in place to protect their transactions
  • Providing excellent customer service and support throughout the sales process and beyond

How to Sell Merchant Services

In addition to credit card processing, many businesses also require a range of other merchant services to operate smoothly. This can include point-of-sale systems, loyalty programs, and inventory management solutions. As an independent sales agent, you can differentiate yourself by offering a comprehensive suite of merchant services to your clients. Some key tips for selling merchant services include:

  • Understanding the unique needs of each client and offering customized solutions that meet their requirements
  • Developing strong relationships with key decision-makers in the businesses you are targeting
  • Providing ongoing support and training to ensure that your clients get the maximum benefit from their merchant services

Merchant Services ISO Program

To take your business to the next level as an independent sales agent, you may want to consider joining a Merchant Services ISO Program. These programs offer additional resources and support to help you grow your client base and increase your earnings. Some key benefits of joining a Merchant Services ISO Program include access to a wider range of payment processing solutions, dedicated support from experienced industry professionals, and higher commission rates on sales.

Credit Card Processing Agent

As a credit card processing agent, your primary goal is to help businesses streamline their payment processing operations and increase their revenue. To be successful in this role, you will need to stay up-to-date on the latest trends and technologies in the payment processing industry, as well as develop strong relationships with your clients. Some key qualities of a successful credit card processing agent include:

  • Excellent communication and negotiation skills
  • A deep understanding of the payment processing industry
  • A proactive approach to sales and marketing

Becoming a Merchant Service Provider

Becoming a merchant service provider is a rewarding career path for independent sales agents looking to take their business to the next level. As a merchant service provider, you will have the opportunity to work with a wide range of businesses and offer them tailored solutions to help them grow and succeed. Some key benefits of becoming a merchant service provider include:

  • The ability to earn commissions on a wide range of payment processing solutions
  • Access to dedicated support and resources to help you succeed in your role
  • The opportunity to build long-lasting relationships with your clients and become a trusted advisor in their business operations

Best ISO Agent Programs

When choosing an ISO Agent Program to join, it is important to consider a few key factors to ensure that you are getting the best support and resources for your business. Some of the best ISO Agent Programs in the industry offer competitive commission rates, dedicated support from experienced industry professionals, and access to a wide range of payment processing solutions. Some key considerations when choosing an ISO Agent Program include:

  • The reputation and track record of the payment processing company offering the program
  • The level of support and resources provided to agents in the program
  • The commission rates and earning potential for agents in the program

Selling payment processing as an independent sales agent can be a lucrative and rewarding career path for those looking to capitalize on the growing demand for digital payments. By choosing the right partner, expanding your services to include merchant solutions, and joining a reputable ISO Agent Program, you can take your business to the next level and maximize your earning potential. With the right skills, knowledge, and support, you can become a successful payment processing agent and help businesses thrive in the digital economy.

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    North American Bancard is a registered ISO of BMO Harris Bank N.A., Chicago, IL, Fresno First Bank, Fresno, CA, and Citizens Bank N.A., Providence, RI.

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