Tuesday, August 01 2023
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 ProgramWe 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:
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:
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. Sunday, July 09 2023
If you are a merchant services agent, then you know the benefit of having a ISO agent program provider that you can trust and depend on to provide quality services to your merchants. Even though any credit card processing agent will tell you that a processing program that is high-quality is of utmost importance, it is still difficult to try and find a program that fits your needs. That’s because with all of the options, it can quickly become a messy, tricky process. To provide you with some guidance as to the best credit card processing ISO programs, this list will delve into the most reputable programs and why you should consider them as your processing program. With this resource at your disposal, you’ll be one step closer to finding a credit card processing program that is right for you. North American BancardIf support and experience are priorities for you when you are choosing a processing partner for your agent activity, then North American Bancard is one of the most obvious choices. For years, North American Bancard has been one of the best in the industry when it comes to customer support and length of experience. These are two very valuable assets to have when searching for a merchant processing partner at any point in your agent career, but they are especially important for agents that are just starting out. When you are just starting out as a merchant, you need a partner that is both experienced and offers good support to guide you through the early stages and ensure your merchants get the very best service possible. In addition to the customer service that they offer and the experience that they bring to the table, North American Bancard also happens to have some of the most high-tech and innovative merchant services available on the market today. If you’re looking for the best of both worlds, then North American Bancard is definitely an option for you. Shaw Merchant GroupFor years, Shaw Merchant Group has been one of the main leaders in the merchant processing industry. They feature a great partner program that is one of the best in the country for those that are looking for growth potential. For ambition sales agents that want to maximize their earnings potential, SMG offers a very robust and lucrative bonus program that has rewarded good performance time and again. Apart from the benefits that they have to offer in the way of earnings, SMG also has a proven track record of providing high-quality customer service to their merchants and agents. This is a huge selling point with merchants and helps to assure them that you will be there for them regardless of what happens. Where Shaw Merchant Group really shines is in the ease-of-use that they have to offer with the solutions in their product suite. Merchants often have a difficult time getting up and running and training employees on payment systems, but solutions from SMG basically solve this problem altogether. Their merchant services solutions feature easy-to-understand dashboards that provide you with all the functionality and processing power that you might need while still saying simple and easy. PayProTecIf you’re looking less for a partner that sits in the background and collects payments and more a partner that takes an active role in your business and helps you to succeed, then one of the best choices that you can make is PayProTec. PayProTec has a reputation in the agent processing program industry as being a partner that gives you the tools that you need to succeed in a very competitive industry. In an industry like merchant services, you’ll take any help that you can get when it comes to selling merchant services. PayProTec will work hand-in-hand with you to get you established and give you actionable resources to increase your performance and market your business. In addition to providing you with a wide range of tools to help your success, PayProTec also has incentives that will help your merchants feel more comfortable such as instant customer support and a free terminal program to make your services look even more attractive to merchants. Shift 4 PaymentsThe POS system that a merchant operates will always have a very large impact on how willing they are to make the jump to your services. When you work with Shift 4, you will see exactly the impact that working with one of the most reputable providers of POS systems in the world provides. When you work with Shift 4, you’ll be gaining access to one of the world’s most robust POS offerings, and you’ll be able to offer it for free. Shift 4 helped to pioneer the free POS system offering and they continue to offer it today to merchants around the world. When you can offer a brand new POS system to your merchants, they are much more likely to use your merchant services and be willing to open up a lucrative, long-term relationship with you as their merchant services provider. Durango Merchant ServicesIf you offer merchant services to merchants that are considered to be in a high-risk industry or business, then you know the struggle of trying to find a good merchant processing partner program to take them on. If you do cater to these industries, then Durango Merchant Services might be the best option for you. Durango has been around for a while and in that time, they have established a reputation for catering to high risk merchants and putting together robust merchant services packages that remain affordable for a high risk business account. One of the main strengths of Durango Merchant Services is that they allow a wide range of industries. Some high-risk merchants like to specialize in one industry, but Durango does it all. If you’re looking for a merchant processing program that will provide you with flexibility when working with these merchants, then there’s no better choice in the industry than Durango Merchant Services. |
ISO Agent Partnership Become a payment service provider today and take your business to the next level. If you are a sales-oriented individual with vast experience in the world of payment processing or you are a driven and motivated professional looking for a new challenge, the North ISO agent program might be a great fit for you. With the highest paying commission structure in the industry, superior products, and sales support, our program will see to it that you are rewarded for your efforts. For anyone with a sales background or a passion for the payments industry, North is the ideal partnership. There are dozens of reasons to become a sales partner with North, but don’t just take our word for it. Here are some of the top reasons that we were given when we asked our ISO agent participants why they chose us and why they continue to work with our highly lucrative program. Sales Partner PortalWith our industry leading partner portal, you’ll have access to online enrollment, training sessions, marketing materials, and you’ll always be ahead of the game with the latest news and promotions. AlertsStay up-to-date on merchant issues and their resolutions via automated emails and text messages that include a detailed ticket number describing what the merchant’s concern was and how it was resolved. Registered DBA (White Label)With our program, you’ll be able to market under your own brand, without paying costly fees! Your brand will be seen on the partner portal, marketing communications, merchant statements, and more. Free Equipment for Your MerchantsSelling businesses on a new processing plan is much easier when you are able to effortlessly jump over the hurdle of the cost of the equipment. With this program, you can offer your clients free equipment that they will need for their processing provider change. This lowers the barrier to switching and creates a higher conversion rate for you. Lifetime Passive IncomeYou will recieve 50–70% of residual income based on the pay structure you select. You will share income on every available revenue stream. With North, you get a True Interchange Revenue Split. Unlike other ISO agent programs, there is no basis points off the top for BIN sponsorship or for what they call hidden losses. Our sales partners earn more residual income with our 50/50 partner program than you would with our competition who claim to offer a higher percentage because thier interchange cost (buy rate) is higher. $20K Performance BonusWe offer a performance-based fast start bonus that is payable for anyone that onboards more than the standard threshold of clients in the first 4 months. This program is designed to reward those experienced sales members that join our team and quickly learn how to sell this product. The bonus can reach up to $20,000, making it one of the most lucrative and competitive in the industry. Profitability Based BonusesWe will look at how much profit is generated on the account after they have been processing for one month and you earn 14 times of the total profit. Example: If we retain $100 in residuals in that month, the bonus would be 14 x $100 or $1,400. You would have already been paid $600, so we would pay you an additional $800 on that account. This bonus is capped at a max of $10,000 per merchant per location. With our dual pricing program it is easier than ever to earn huge bonuses with a 14x profitability bonus. This dual pricing model enables you to maximize your bonus at $10,000 on almost every merchant processing over $90k. Dual Pricing ProgramWhen you are selling merchant services, one of the best assets of any partner program is more rewards and incentive programs that save your client money. The Edge dual pricing program is one of the hottest new commodities in credit card processing, as it is designed to save the client thousands of dollars in credit card processing cost, instead passing on the fee to the consumer in a way that isn’t damaging to their own conversion rate and revenue. We offer this program to our clients and make it easy to understand and present for our sales partners. Medical BenefitsWith some sales jobs, you don’t even have the option for medical coverage. With the North ISO agent program, you’ll have the resources that you need to provide healthcare coverage to you and your family at an affordable rate. We take care of our own, and when you are in our program you will have access to these benefits. Registered DBA Program Grow Your Merchant Services ISO with White-Label Payment SolutionsAs an independent sales organization (ISO), you can upgrade your business by providing merchant processing services under your own brand. You may dismiss the idea at first, probably thinking that you don’t have the infrastructure or expertise to set up your own payment processing company. However, with white label payment processing, all you really need is a good ISO partner. How a White Label ISO Program WorksTo offer payment processing services under your own brand, your ISO partner will provide you with an online application page that doesn’t identify their company. This “white label” solution is ready for your brand and includes your logo, colors, and contact information, so your merchants only identify the payment solutions with your company. It eliminates any confusion among your merchant customers about who their service provider and primary contact should be. Your brand is the only thing the merchant will see on your website, merchant portal, and marketing materials. Your payments ISO partner becomes a silent partner, providing technology, payments functionality, and services. This puts you in more control, allowing you to deliver seamless, consistent customer experiences in all interactions – and enhance your brand’s reputation. With this white label payment solution, you won’t need to overcome negative perceptions a prospect may have about the company your working with. This is because you are creating a unique customer experience. Better still, you don't have to fall in line with another company's existing customer experience. Once you start providing white label payment services, you will also find that you build stronger, longer lasting relationships with your merchants. They'll begin to view you as a payments expert and an expert in the other solutions you provide. You may even find you are able to grow your customer base, as merchants in every vertical or niche can benefit from accepting payments, enabling you to market to more types of businesses. Remember: white label payment processing enables you to earn huge residual income. Our White Label Program Will Save You Thousands in FeesPut your brand on merchant statements and applications — build your brand with your sub-agents and merchants. Full white label payment solution with your logo and branding on applications, statements, online enrollment, merchant and partner portals. We at North have an awesome white label solution. There is no huge package of documents for you to fill out, no approval process by Visa and Mastercard and the sponsor banks, and best of all no annual dues. Here are some details on the “White Label ISO” program:
What do we brand?
What we need:
|
