Skip to main content
#
Shaw Merchant Group

Become a Registered ISO/MSP

In today's digital age, the demand for payment processing solutions is at an all-time high. Businesses of all sizes rely on the ability to securely accept credit card payments from customers in order to stay competitive and grow their revenue. As a result, the role of a Registered ISO (Independent Sales Organization) has become increasingly important in the financial services industry.

Becoming a Registered ISO can be a lucrative and rewarding career path for individuals who are motivated, organized, and have a passion for sales. In this comprehensive guide, we will explore the steps to becoming a Registered ISO, the best merchant services ISO programs available, and how to maximize your earning potential in the payment processing industry.

What is a Registered ISO?

A Registered ISO is a third-party entity that is authorized by a credit card processing network (such as Visa or Mastercard) to sell merchant services on behalf of a payment processor or acquiring bank. ISOs act as intermediaries between businesses in need of payment processing solutions and the financial institutions that provide those services.

ISOs are responsible for acquiring new merchant accounts, setting up payment processing equipment, and providing ongoing customer support to ensure a seamless payment experience for their clients. In exchange for their services, ISOs earn a percentage of the transaction fees generated by the merchants they sign up, known as residual income.

Becoming a Registered ISO: Steps to Success

1. Understand the Industry: Before pursuing a career as a Registered ISO, it's important to have a solid understanding of the payment processing industry and the services you will be offering to merchants. Familiarize yourself with different types of payment processing solutions, industry trends, and the competitive landscape in your area.

2. Choose the Right ISO Program: When it comes to choosing the best merchant services ISO program, there are several factors to consider. Look for a program that offers competitive pricing, a wide range of services and products, responsive customer support, and a strong reputation in the industry. Some popular ISO programs to consider include:

  • North American Bancard ISO Program
  • First Data ISO Program
  • TSYS ISO Program
  • PaymentCloud ISO Program

Research each program carefully and choose the one that best aligns with your goals and values as a sales professional.

3. Complete the Application Process: Once you have selected an ISO program to partner with, you will need to complete the application process to become a Registered ISO. This typically involves providing personal information, submitting to a background check, and signing a contract with the ISO program provider.

4. Obtain Necessary Licenses and Certifications: In order to legally sell credit card processing services as a Registered ISO, you may need to obtain certain licenses and certifications depending on your state regulations. Check with your state's department of financial institutions or licensing board to determine what requirements apply to you.

5. Build Your Sales Skills: As a Registered ISO, your success will depend on your ability to effectively sell payment processing solutions to businesses. Invest in sales training, attend industry conferences, and network with other professionals in the field to hone your skills and stay ahead of the competition.

6. Market Your Services: Once you are set up as a Registered ISO, it's time to start marketing your services to potential clients. Create a professional website, establish a presence on social media, and attend industry trade shows to connect with businesses in need of payment processing solutions.

Best Merchant Services ISO Programs

There are many merchant services ISO/MSP programs available to aspiring Registered ISOs, each offering unique benefits and opportunities for growth. Here are some of the best ISO programs to consider:

  • North American Bancard ISO Program: Known for its competitive pricing, innovative technology solutions, and dedicated support team, North American Bancard is a popular choice for ISOs looking to maximize their earning potential.
  • First Data ISO Program: As one of the largest payment processing companies in the world, First Data offers a wide range of services and products to meet the needs of businesses of all sizes. Their ISO program provides comprehensive training, marketing support, and competitive commission rates.
  • TSYS ISO Program: With a reputation for reliability and security, TSYS is a trusted partner for ISOs seeking to provide their clients with cutting-edge payment processing solutions. TSYS offers personalized support, marketing resources, and ongoing training to help ISOs succeed.
  • PaymentCloud ISO Program: PaymentCloud is a leading provider of white label payment solutions for ISOs looking to customize their services and build their brand in the market. Their ISO program offers flexible pricing, innovative technology, and dedicated account management to help ISOs grow their business.

Maximizing Your Earning Potential as a Registered ISO

As a Registered ISO, your earning potential is directly tied to the number of merchant accounts you are able to sign up and the volume of transactions processed by your clients. To maximize your residual income and build a successful payment processing business, consider the following strategies:

  • Focus on Industries with High Payment Processing Volume: Target industries with high transaction volumes, such as retail, e-commerce, hospitality, and healthcare, to maximize your earning potential.
  • Provide Exceptional Customer Service: Build long-lasting relationships with your clients by providing exceptional customer service and support. Being responsive to their needs and resolving issues quickly will help you retain clients and attract referrals.
  • Stay Informed on Industry Trends: Stay up-to-date on the latest trends and technologies in the payment processing industry to offer your clients the most innovative solutions available.
  • Leverage Technology: Use technology tools such as CRM software, marketing automation platforms, and analytics tools to streamline your sales process and identify opportunities for growth.
  • Network and Collaborate: Collaborate with other ISOs, payment processors, and industry partners to expand your reach and access new opportunities for business growth.

In conclusion, becoming a Registered ISO can be a rewarding and profitable career path for individuals with a passion for sales and a desire to help businesses succeed. By choosing the right merchant services ISO program, building your sales skills, and focusing on providing exceptional customer service, you can maximize your earning potential and build a successful payment processing business. Follow the steps outlined in this guide, explore the best ISO programs available, and start your journey towards becoming a successful Registered ISO in the dynamic and fast-growing payment processing industry.

Contact Us
Shaw Merchant Group 
8152 SW Hall Blvd #1002 
Beaverton, OR 97008 
Sales: 855-200-8080  
admin@shawmerchantgroup.com

In the digital age, credit card processing has become an essential service for businesses of all sizes. In order to facilitate these transactions, companies rely on payment processors to handle the complexities of processing credit card transactions securely and efficiently. As a result, the payment processing industry has become highly competitive, with numerous companies vying for market share.

One way for individuals and businesses to enter the payment processing industry is by becoming a Registered Independent Sales Organization (ISO). Becoming an ISO allows individuals to partner with established payment processing companies to sell their services to merchants. In exchange, ISOs receive a commission for each transaction processed through their referral network.

In this article, we will explore the steps required to become a Registered ISO, as well as the best companies offering ISO agent programs for selling payment processing services. We will also discuss the potential for residual income and the benefits of partnering with a white label payment service provider.

What is an ISO?

An Independent Sales Organization (ISO) is a third-party entity that partners with payment processors to sell their services to merchants. ISOs act as intermediaries between merchants and payment processors, providing sales, marketing, and customer service support to help businesses implement and manage credit card processing solutions.

ISOs play a crucial role in the payment processing industry by expanding the reach of payment processors and increasing their sales volume. By leveraging their network of merchants, ISOs can drive business growth and generate revenue for both themselves and the payment processor.

How to Become a Registered ISO

Becoming a Registered ISO involves several steps, including obtaining the necessary certifications, establishing relationships with payment processors, and building a network of merchants. The process can be challenging, but with dedication and persistence, individuals can successfully launch their own payment processing business.

1. Obtain the Required Certifications

Before you can become a Registered ISO, you must obtain the necessary certifications and licenses to legally operate in the payment processing industry. This may include registering as a business entity, obtaining a tax identification number, and obtaining any required state or federal licenses.

Additionally, many payment processors require ISOs to complete training programs or certifications to ensure they understand the industry's rules and regulations. These programs may cover topics such as PCI compliance, fraud prevention, and chargeback management.

2. Partner with a Payment Processor

Once you have obtained the necessary certifications, the next step is to partner with a payment processor. Payment processors provide the infrastructure and technology necessary to process credit card transactions securely and efficiently. By partnering with a reputable payment processor, you can offer your merchants a reliable and secure payment processing solution.

When choosing a payment processor to partner with, consider factors such as pricing, customer service, and technology capabilities. Look for a processor that offers competitive rates, responsive support, and innovative solutions to help you attract and retain merchants.

3. Build a Network of Merchants

With your certifications in hand and a partnership with a payment processor established, the next step is to build a network of merchants to sell your payment processing services to. This involves reaching out to businesses in your target market, understanding their payment processing needs, and presenting your solutions as a value-added service.

To attract merchants to your payment processing services, consider offering competitive pricing, reliable customer support, and innovative technology solutions. By demonstrating the benefits of working with your company, you can convince merchants to switch to your payment processing services and grow your residual income.

4. Provide Ongoing Support

Once you have onboarded merchants to your payment processing services, it is important to provide ongoing support to ensure their satisfaction and loyalty. This may involve troubleshooting technical issues, answering questions about transactions, and proactively addressing any concerns or complaints.

By offering responsive and reliable customer support, you can differentiate your business from competitors and build long-term relationships with your merchants. Happy merchants are more likely to refer your services to others, helping you grow your network and increase your residual income.

Best ISO Agent Programs for Selling Payment Processing

There are countless companies offering ISO agent programs for selling payment processing services, each with its own strengths and weaknesses. To help you navigate the crowded marketplace, we have identified some of the best ISO agent programs for individuals looking to become Registered ISOs.

1. North American Bancard

North American Bancard is a leading payment processing company known for its competitive pricing, cutting-edge technology, and responsive customer support. The company offers an ISO agent program that provides generous commissions, marketing support, and training resources to help agents succeed in the industry.

With North American Bancard's ISO agent program, agents can access a wide range of payment processing solutions, including POS systems, virtual terminals, and mobile payment options. The company also offers innovative features such as chargeback protection, fraud prevention, and analytics tools to help agents maximize their sales volume and residual income.

2. Payline Data

Payline Data is another top payment processing company that offers an ISO agent program for individuals looking to sell payment processing services. The company is known for its transparent pricing, personalized service, and advanced payment technology solutions.

With Payline Data's ISO agent program, agents can access a variety of payment processing services, including card-present, card-not-present, and online payment solutions. The company also offers training resources, marketing support, and dedicated account managers to help agents build their sales pipeline and grow their residual income.

3. Dharma Merchant Services

Dharma Merchant Services is a socially responsible payment processing company that offers an ISO agent program for individuals looking to make a positive impact in the industry. The company is known for its ethical business practices, fair pricing, and commitment to sustainability.

With Dharma Merchant Services' ISO agent program, agents can offer merchants a variety of payment processing solutions, including traditional credit card processing, e-commerce solutions, and mobile payment options. The company also provides agents with marketing resources, training programs, and personalized support to help them succeed in the industry.

Potential for Residual Income

One of the key benefits of becoming a Registered ISO is the potential for residual income. As an ISO, you earn a commission for each transaction processed through your referral network, providing a steady stream of passive income over time. This residual income can help you build a stable and sustainable business that generates revenue even when you are not actively selling.

To maximize your residual income as an ISO, focus on building a strong network of merchants, providing exceptional customer service, and staying informed about industry trends and developments. By continuously growing your referral network and retaining satisfied merchants, you can increase your sales volume and earn higher commissions over time.

Benefits of Partnering with a White Label Payment Service Provider

In addition to becoming a Registered ISO, individuals and businesses can also partner with a white label payment service provider to offer payment processing solutions to merchants. White label payment service providers offer a range of benefits, including branding flexibility, custom solutions, and technical support.

By partnering with a white label payment service provider, you can leverage their infrastructure and expertise to launch your own branded payment processing business. This allows you to differentiate your services in the marketplace, attract merchants with unique features and capabilities, and build a trusted brand that resonates with customers.

White label payment service providers also offer technical support and training resources to help you navigate the complexities of the payment processing industry. By partnering with a reputable provider, you can access industry-leading technology solutions, compliance expertise, and ongoing support to ensure your success as a payment processor.

Becoming a Registered ISO and selling payment processing services can be a rewarding and lucrative opportunity for individuals looking to enter the payment processing industry. By following the steps outlined in this article, including obtaining certifications, partnering with payment processors, and building a network of merchants, you can launch your own payment processing business and generate residual income over time.

When considering the best ISO agent programs for selling payment processing services, look for companies that offer competitive rates, responsive support, and innovative solutions. Consider partnering with a white label payment service provider to differentiate your services, access technical support, and build a trusted brand in the marketplace.

By leveraging the potential for residual income and partnering with reputable companies in the industry, you can establish a successful payment processing business that helps merchants streamline their operations and grow their revenue. With dedication and persistence, you can achieve your goals of becoming a Registered ISO and building a thriving payment processing business.

    Shaw Merchant Group is a registered DBA of EPX, a registered ISO of BMO Harris Bank N.A., Chicago, IL, Fresno First Bank, Fresno, CA, and Citizens Bank N.A., Providence, RI.

    © Shaw Merchant Group, LLC.