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North American Bancard
Thursday, July 28 2022
Dozens more shopping cart solutions now available using USAePay

In the past, there has been a charge to use USAePay transactions with EPX. However, due to a new merchant services partnership with USAePay, EPX is now able to process transactions at a rate of $0 per item! This amazing new development not only means more affordability for merchants, but also opens doors that were previously closed for partners and agents looking to expand their horizons. Per item transaction fees are a nuisance and a profit-killer. Through the hard work of these two organizations, that problem is now solved, helping merchants and merchant services agents everywhere achieve more.

 

Benefits to the merchant

Of all parties involved, this new development perhaps benefits the merchants the most. While merchants have not always had fees passed down to them, they still feel the effects of having to increase processing fees and tack on per item fees to transactions. With less affordable payment solutions and higher processing bills, merchants are having a harder time succeeding. That is, until now. This partnership provides a flurry of benefits to the merchant that allows them to go with the payment processor that best meets their needs, not just one that doesn’t carry per item fees for USAePay transactions.

Benefits to the agent

In addition to helping the merchant be more successful and find a better solution that meets their needs, this partnership also opens up countless doors to the agent. Merchant Services Agents have long been somewhat restricted by who they can partner with based on their status with USAePay. Merchants with this shopping cart solution often avoided solutions like what NAB has to offer because of the extra fees that are often involved. With this partnership, that struggle is a thing of the past.

More merchants

With USAePay transactions now $0 per item, the world of merchants opens up to agents all over the globe. No longer do unnecessary fees stand in the way of gaining partnership with a merchant that needs your services. With processing more affordable than ever, merchants can get the outstanding value that our payment processing software, solutions, and other infrastructure has to offer. You can start exploring which merchants you were previously unable to serve because of fees and now show them the benefits of using EPX with USAePay.

Serve your merchants better

Along with being able to serve a wider range of merchants, merchant services agents will also be able to serve their existing merchants better. With more margin to work with on each transaction, merchants can explore which solutions they can invest in that they otherwise wouldn’t have been able to. This strengthens the bond between merchant and agent and helps agents build trust.

What fees are involved?

As you know, it is now $0 per item to process a fee with USAePay on EPX. However, there is a small, monthly charge of $6 to use the service. Any merchant doing even small volume should look at this as an incredible deal and an opportunity to work with a payment processing provider that is more suitable and attentive to their needs.

Posted by: Scott Shaw AT 11:28 am   |  Permalink   |  Email

How to Start a Payment Processing Business?

Starting a payment processing business can be a lucrative venture, but it requires careful planning and consideration. The first step in starting a payment processing business is to conduct thorough market research to understand the demand for payment processing services in your target market. This research can help you identify potential competitors, determine pricing strategies, and pinpoint the needs of your target customers. Once you have a solid understanding of the market, you can begin to create a business plan that outlines your goals, target market, revenue projections, and marketing strategies.

After developing a business plan, the next step in starting a payment processing business is to choose a payment processor to partner with. This partnership is crucial, as the payment processor will handle the actual processing of transactions, so it is important to choose a reliable and reputable company. Additionally, you will need to secure any necessary licenses and permits to legally operate your business. Once you have everything in place, you can begin marketing your services to potential clients and building relationships with merchants who may benefit from your payment processing solutions. With hard work, dedication, and a strong business plan, you can successfully launch and grow a payment processing business.

With the rapid growth of e-commerce and online transactions, the demand for payment processing services has increased substantially. White label payment processing is a business model where a company offers payment processing services to merchants under their own brand name.

What is White Label Payment Processing?

White label payment processing is a service where a company provides payment processing services to merchants under their own branding. This means that the merchant will see the payment processor's branding, but the processing service is actually provided by a third-party company.

The white label payment provider takes care of all the technical aspects of payment processing, including payment gateways, security, and compliance, while the merchant focuses on growing their business.

Advantages of White Label Payment Processing:

  • Flexibility: White label payment processing allows merchants to customize the payment process to meet their specific requirements.
  • Branding: Merchants can ensure that the payment process aligns with their brand image, enhancing customer trust and loyalty.
  • Cost-effective: White label payment processing eliminates the need for merchants to invest in developing their payment processing system, saving them time and money.
  • Technical support: White label payment processing providers offer technical support to merchants, ensuring a smooth payment process.

How to Start Your Own Payment Processing Company

  • Research the Market: Before starting your payment processing company, it's crucial to research the market to understand the demand, competition, and potential opportunities.
  • Develop a Business Plan: Create a detailed business plan outlining your target market, revenue model, marketing strategy, and financial projections.
  • Obtain the Necessary Licenses: To operate a payment processing company, you will need to obtain licenses from regulatory authorities. Ensure you comply with all legal requirements.
  • Choose a White Label Payment Processing Provider: Select a white label payment processing provider that meets your requirements in terms of features, pricing, and customer support.
  • Customize Your Branding: Customize the payment processing service with your branding and integrate it seamlessly with your website or platform.
  • Market Your Services: Promote your payment processing services to merchants through marketing campaigns, partnerships, and networking events.
  • Provide Excellent Customer Support: Offer excellent customer support to merchants to build long-term relationships and grow your business.

How Much Does It Cost to Become a Registered ISO for Merchant Services?

To become a Registered ISO (Independent Sales Organization) for merchant services, there are several costs involved, including:

  • Registration Fees: The registration fee to become an ISO can range from $500 to $5,000, depending on the payment processor and the services offered.
  • Compliance Costs: ISOs are required to comply with industry regulations, which may involve additional costs for training, audits, and certifications.
  • Technology Costs: ISOs need to invest in technology infrastructure, including payment gateways, security systems, and software development.
  • Sales and Marketing Costs: ISOs need to allocate budget for sales and marketing activities to promote their merchant services and attract new clients.
  • Miscellaneous Costs: Other costs may include insurance, legal fees, and operational expenses.

In conclusion, white label payment processing is a valuable business opportunity for entrepreneurs looking to enter the payment processing industry. By partnering with a white label payment processing provider, you can offer payment processing services under your brand name, providing a seamless experience for merchants. Starting your payment processing company requires thorough research, planning, and investment, but with the right strategy and dedication, you can build a successful business in this growing industry.

    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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