Monday, May 08 2023
Over time, working in the payment processing business as a ISO agent has slowly melded into one, thanks to customer demand for an all-in-one solution, and you may find yourself needing to offer this option to your own customers. POS terminals are easier to use these days than they were in the past, and most of your clients are going to be well familiar with the benefits that a good POS delivers over an old-fashioned cash register. If you give your clients the option of a POS solution, you'll be able to serve a more diverse range of customers, and even some very high volume accounts that will net you a decent profit in transaction fees. It's in your best interest to have a great free terminal offer that you can pass on to the end users for no upfront cost.
Since the providers of more of these terminals can essentially lock customers to one specific processor, it is hard to sell to merchants if you can't offer your own POS solution. This gives the merchants a way out without having to pay the upfront costs of getting a neutral terminal. You can basically eliminate a huge factor in a merchant's hesitation to switch over to your service.
POS Benefits and Customer Loyalty
POS systems do so much more than just take people's money; they are an important part of keeping track of the business's logistical concerns, and the business owner likely uses its processes on a daily basis. For example, a POS will handle credit cards, but it can also handle employee time clocks, sales reports, inventory tracking, and other important analytics. Since a POS can be so important and simplify so many daily actions, business owners will be more hesitant to switch to other providers once you have them “hooked” on your particular POS and its familiar interface. The last thing that business owners are looking to do is fix something that isn't broken, so they are likely to stay with you over the long-term. This makes for a much more consistent portfolio.
Most merchants that are high volume, such as large restaurants and retail companies, must have a POS for all of its functions. Higher volume means more transaction fees, which means more profit for you. It would be harder to get these accounts if you could not offer your clients a POS solution.
Sure, if your a merchant services ISO or agent pitching lower rates to a merchant makes sense, and it may indeed convince them, but you'll have much more leverage if you throw a POS into the deal. You can also get away with charging more in fees this way because you're not focusing so much on competing at the price level.
Depending on the merchant services company that you're working with, you may also receive a bonus for every terminal that you provide to a merchant, even if you offered it to them for free.
Making Yourself the Better Option
When someone is a business owner, they want their life solutions to be as simple and easy as possible because they don't have time to mess around with the technology that they need to get the job done. Because of this, merchants are almost always going to prefer an all-in-one POS solution over just a simple credit card machine if they can get it for around the same price. By offering a POS, you are instantly making yourself a better option from other sales agents who are stuck in the past and aren't offering complete POS options.
Setting Yourself Up for the Future
The future is trending towards full POS options for most merchants as costs continue to plummet. If you give your merchants a POS now, you are effectively insuring yourself against obsolescence. Your clients will be less likely to be seduced by other sales agent in the future, since they will have everything that they need for quite some time.
It might seem difficult to get started selling merchant services and POS systems to your clients if you never have before, or if you consider yourself to be technophobic. Luckily, we offer training to get you up to speed. Just let us teach you, and you will know exactly what you're doing faster than you probably thought possible. All of our courses—which you can take in person or online—are free, by the way.
The Basics of POS
Our first training course is an online one that you can take at your own pace, and that will show you the basics of how to sell merchant services and POS systems to your merchants. You will learn the ins and outs of the software and the hardware, as well as all of the back-end features that your clients will enjoy. You will also learn all about the benefits of POS systems over traditional credit card terminals, and you'll acquire plenty of material that you can use when you're persuading merchants to switch to your services.
When you are done with the basic course and are ready to get started selling pos systems, this doesn't suddenly mean that your education is done. Just as technology changes, your knowledge about these terminals will have to evolve as well, so you would do well to learn as much as you can about these terminals. It will help you understand them better and offer good customer support. Join us regularly and we will give you all the latest updates on what you need to know.
If you feel that you want to expand your credentials even more, you can become a registerd ISO with us. Visit our training center in person, and you can join our registration program. It involves you meeting sales goals and a online class where you learn all about the different POS sub-types that we produce for merchants, and it will give you a very deep understanding of the products that you're selling. From there, you will become extremely prepared to sell merchant accounts and POS systems to any kind of merchant and will be able to give professional-level demos to your clients. Optionally, you can become certified to install your own POS systems at your merchant's location.
A True Merchant Service Company
We don't just offer POS systems; we offer just about any sort of solution that a merchant will ever need. From our free POS terminals, to our stand-alone credit card machines, to our free cash register, we have exactly what you're looking for to suit the specific needs of your specific clients. Our terminals are technologically advanced and ergonomic, and are extremely competitive in terms of functionality.
Profitable Fee Schedule
You are in the business to make a profit, so you're going to want a Schedule A that will allow you to make the kind of money you need. Our Schedule A is quite competitive and we offer many other benefits to working with us. For example, you can receive very handsome sign-up bonuses through us, as well as a 75% residual split. We allow you to build custom solutions for your clients as well, so that you can be sure that you are giving them the best deal and that you are more likely to close. We offer lucrative buyouts to help you raise the capital that you need when you are growing, as well as ISO white label opportunities.
Sunday, May 07 2023
One of the most important pieces of equipment for any merchant is their point-of-sale system. As the location through which every transaction that the business takes in goes through, it is important that every merchant have access to a point-of-sale system that is robust, scalable, and has all the functionality that is needed. However, convincing a merchant that they need a POS isn’t the hard part--this is a known fact. Convincing a merchant that your POS is the right choice, however, can be very difficult. To help you get well on your way to selling point of sale systems as a merchant services agent and helping merchants realize the power of a good POS, we present to you 6 actionable tips that you can take into consideration and implement to help sell POS systems.
Why is finding the right POS system important for businesses?
If you have been working with merchants for long, then you already know how important POS systems are to businesses. With this knowledge, it is easy to understand why so much importance is placed on the process of selecting a POS system and utilizing it to its full potential. Each business is unique and while all businesses have the same basic need to facilitate payments, the best way to do so will vary by the business.
For merchants, finding the right POS system is absolutely essential because it will ultimately help to determine what a merchant can achieve with its POS system and whether they will have any limitations. In an ideal situation, the POS system that a merchant selects will not have any negative impact on their business and instead will serve as a reliable addition to their suite of technology that they use in their business on a daily basis.
Be an expert
If you are looking to convince a merchant that they need your POS system, then one of the first things that you will need to do is establish yourself as an expert and a person of authority when it comes to POS systems. This can be done in a variety of ways, but what a merchant really wants is to feel comfortable that you know what you are talking about and you know everything that there is to know about the POS system that you are offering.
If you are hoping to make a great impression on your prospective merchant, then make sure you familiarize yourself with your POS system as much as possible so that you can easily answer any questions that they have about your POS systems and their functionality. With the ability to answer any question that comes your way regarding your POS system, the merchant is far more likely to trust you and find you in a favorable light, which could lead to a purchase.
Nurture a relationship
The next very important part of the process if you want to have success with selling merchant services and POS systems is nurturing the relationship between the merchant and the agent. There are a variety of ways that this can be done, as well. You must remember that each merchant is unique and is going to require varying levels of customer service and support.
One of the first ways that you can nurture a relationship with a merchant is to get to know them and their business personally. Not only will this make them feel valued and heard, but it will also give you much more knowledge of their areas of need so that you can address them most completely, earn trust, and ensure that your POS system fits the needs and requirements of the merchant you are working with.
With these things in mind, your merchant should be kept happy and satisfied.
Address areas of need
If you truly want to satisfy your merchants and make sure that they are taken care of and are more willing to purchase from you again, then you need to make sure that you are meeting their needs. You should start each relationship with a full audit of what your merchant needs and make a plan for how you can address it.
With this fuel at your disposal, you can approach negotiations from a position of power and understanding to increase your chance of closing the sale and making your merchant confident that you can handle their needs effectively.
There are a few properties that merchants look for automatically in a POS system. One of the most important of these is versatility. Many merchants deal with a wide variety of transactions, promotions, discounts, coupons, and other functionalities. With a POS system that provides all of these things, their business will be enabled to operate at its fullest potential. If you need to communicate all the benefits of your POS system, be sure to touch on all the versatility that it has to offer and how it can help the merchant achieve a wide range of goals.
If you want to entice your merchant to sign on with your POS, then there are a few things that you should be able to throw in without breaking the bank. For example, you could throw in maintenance and upgrades for free as an extra benefit to the POS system. This is just one example of a classic sales technique.
If you have a merchant that is on the fence about investing in a new POS system, be sure to make it known that there could be additional benefits to be had by signing on with your POS system.
Always follow through
In sales, you never want to promise or lead someone to believe something that might not come true. That is because as a merchant services representative, you want to be seen as someone that follows through on the promises and assurances that you make. Without your reputation for upholding the truth and following through on the promises that you make, you will find that it’s hard to keep a merchant signed on with your POS system.
Always be upfront about the capabilities of the POS system that you are selling as well as the potential limitations that it has. With this honesty in mind and a respect for the merchant, you are bound to have more success than if you were to try and hide the limitations of your POS system.
North American Bancard Agent Program is your premire merchant services sale partner to support you as a merchant services sale rep. Contact us today to get more detailes an start your merchant services business with us today!
Sales Partner Program Details
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.
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