Saturday, February 26 2022
As you might already realize, selling merchant services, such as credit card processing, can be extremely lucrative. Below are the steps that you can take to get into this fascinating business, starting with finding your first leads:
Step 1: Find Your Prospects - First, you need to start thinking about where your prospects are. What sort of businesses do you want to sell to, and where can you find them? Your best bet is probably to find businesses that are currently in need of merchant services, since it's much easier to persuade a merchant if he isn't already signed up with a competitor. You can find out what new businesses have opened up in your area by joining your local chamber of commerce or professional business associations. Being able to interface with business owners in person will give you a huge leg up over the competition. You might also try looking in your local newspaper for local stores that have just opened up.
Step 2: Make a Sales Pitch - Sometimes your ISO will provide you with a sales pitch, but you might be better off making one of your own that you adapt to your situation or niche. In general, though, just put yourself in the shoes of your prospect? What do they really want? Your sales pitch should revolve around that. If you don't know enough about your potential customer yet, ask him. Have him tell you about his sales, what kind of industry that he's in, and whether most of his transactions are done online or at his physical storefront. This will give you an idea of how to serve his unique needs. Ask your prospect if he'd like to customize his solution using your products, and then help him put his ideal credit card processing setup together. In this business, you'll want to ditch any high-pressure sales tactics when selling merchant services. Since you will have a long-term relationship, the prospect needs to feel comfortable that he got exactly what he wanted.
Step 3: Sell It - Once you have figured out what your prospect needs and taken the time to come up with a good solution, schedule a time for another meeting. It shouldn't take more than twenty minutes or so to pitch your idea. You might want to put a power point presentation together, or something similarly visual to get your point across. Be very clear in the language you use, by the way. Make sure that it's nothing too obscure that will confuse the merchant. Also, don't be overly detailed—the merchant is only really going to care about how the solution will serve his ends. Just focus on telling him how it's going to save him time and money.
Step 4: Close the Deal - If your prospect is ready to move forward, then get started as soon as possible. Don't put it off; make sure to work while the merchant's “buying temperature” is hot. Fill out the application for the service right then and there if you can.
Step 5: Stay Involved - Since you will be making residual income from this person, make sure that you build a relationship with them over the long-term. Don't just sell to them and disappear. Your residuals depend on their staying with your service, so customer retention is important. In addition, many of your future prospects will come through word-of-mouth from your current prospects if you do your job right. It's extremely important to have a good reputation because people will certainly hear about you through the grapevine, and you're going to want them to hear good things—your business depends on it.
Step 6: Keep Funneling Sales Through Your Pipeline - In this industry, things run a little slower than usual, since you're dealing with the complexities of another business. It is the nature of B2B sales, so you might be working to close a deal for weeks. This is why it's important to multi-task, and to always be working on more than one account at a time. Meet with as many merchants as is reasonable, and make sure to do your best revive any leads that seem to have cooled off and disappeared. Always be in the process of signing up new merchants, and don't let yourself idle for too long. This is the best way to build up a large volume of residuals over time.
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 Portal
With 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.
Stay 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 Merchants
Selling 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 Income
You 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 Bonus
We 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 Bonuses
We 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 Program
When 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.
With 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 Solutions
As 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 Works
To 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 Fees
Put 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: