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Selling Your Merchant Services Business | Overview
Wednesday, December 16 2020

There are lots of reasons why building a merchant services business can be extremely lucrative, not the least of which is the fact that you can build a lasting asset (your residuals), which you can then sell. In fact, I spoke to someone in the industry today, and he was telling me all about his plan when he leaves the business and how he's planning to sell his residuals. What that conversation made me realize, though, is that lots of people underestimate the power of those residuals. The best thing you can do with this income is to use it as capital.

To be able to sell your business in the long-run, you need to make sure that you start the business the right way in the first place. There are some major things you're going to have to take into consideration so that your company is able to grow:

1) Own your portfolio's residuals. Maybe this seems very transparently obvious to you; after all, what's the point if you don't own your source of income? However, it's not uncommon that sales agents will lose their entire portfolio simply because they did not read the agreement that they made with their processor closely enough. You should always consider what might happen if you just decide to stop selling; if the answer is that you will lose your hard-earned residuals, then choose another partner.

2) Be able to sell your residuals. If you can't sell something, do you really own it, then? Sometimes processors will require you to have to consider an offer from them before selling to an outsider, and that's fine, but just make sure you are free to choose.

3) Find out if you can borrow cash against your residuals. A large ISO that isn't operating as a middle man should be able to lend you money. If they can't, this is a problem. Usually, you're going to want to exhaust several options before a buyout, and this includes borrowing.

So let's assume you have all of these issues squared away and are the proud owner of a growing portfolio of accounts. Now you can start to use that asset to raise some capital!

Before you do anything else, though, take a look at these general guidelines that will help you get a better picture of what is going on when the selling occurs:

Do you qualify? Don't bother trying to pump any cash from your portfolio before you have at least two dozen accounts or so. Make sure that your accounts are making at least $1000 every month as well. You will be hard pressed to find anyone who would want to buy residuals less than this.

Performing a buyout: When you perform an 100% upfront buyout, you'll get about 12 to 20 times the monthly worth of the accounts that you're selling. This is a rough estimate, but adjust your expectations accordingly.

Performing an earn-out: Basically, this is the same as a buyout, except you get less upfront. Some of the money is upfront, and the rest is sent to you in increments with the stipulation that your accounts don't get canceled and that they continue brining in a certain amount of money. This will yield you more than a buyout in the long run—about 20 to 24 times your monthly income.

Performing a secure buyout: Let's say you have a significantly-sized portfolio and you only want to sell some of your residuals. You can sell some of those accounts, and then use your others as collateral essentially to guarantee against any cancellations. This means less risk for the processor, so they are usually willing to pay more.

Getting a loan: Maybe you just need to borrow some liquid cash and use your residuals as a guarantee. Most ISOs can do this for you. Usually, you can borrow anywhere from a few months to up to a year's worth of residuals. The terms will vary depending on your merchant services ISO program. Since of course your ISO will be interested in minimizing risk, just show that you are using the funds to grow, and you'll have a better chance at getting the deal you want. Your ISO will also usually offer better terms than outside lenders.

Did this article help you learn more about how to turn your portfolio into a machine that pumps out capital? Do you have a portfolio that you're looking to use right now for these sorts of purposes? Contact us and we'll show you the way.

Download PDF: Using Your Portfolio as a Source of Capital – Selling Your Processing Business ​

6 Actionable Tips for Selling Point-of-Sale Systems
Tuesday, December 08 2020

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 POS 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 accounts 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.

Stress versatility

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.

 

Include services

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 sales 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!

 

Merchant Services Agent ISO Agreements | How to Guide
Monday, December 07 2020

Becoming a merchant services agent or an ISO is a major step, so it's important that you know the various pitfalls that you might face when working with credit card processing companies as an agent. Especially if you're relatively new to the business, you should keep alert that you don't give in to agreements that could crumble your business prospects over the longterm. Here are some major factors that you will want to consider when signing contracts:

Don't Take on Liability - Unless you are already a large and experienced company that can bear the brunt of this kind of risk, don't allow yourself to make agreements that hold you liable for losses. As an MLS, this holds even more true. Don't take on more responsibility than you have the cash reserves to manage, or you may find your capital or residuals drying up.

It's fairly typical nowadays for programs to not require you to take on liability, so there's no reason for you to attempt this if you don't have the means. Make sure to watch out for the fine print, though, and examine the contract for any statements that imply any conditions where an credit card processing ISO would have to take responsibility for any loss.

Make Sure You Are Paid Your Residuals Frequently - Don't deal with a processor that won't send you your residuals on time, every time. If you sell an account, you should receive your cut as soon as possible in accordance with the payment schedule, and you shouldn't have to face a waiting period to receive those funds.

Another thing to avoid are minimum payment thresholds. For instance, you may have to wait until your residuals have accumulated to a certain amount before you are paid. Yes, this helps to cut costs somewhat for the processor, but this is the money that is going to be flowing through your business, so you are going to need it in a timely manner. You are owed what you are owed, and you should receive it regardless of how much or how little it is.

Make Sure You Own Your Residuals - If you can't transfer or sell your residual income, you don't really own it. The bank or processor might own the merchant account, but you should own the residuals. These residuals are the lifeblood of your business, and without them, you won't have an asset that keeps paying you even when things slow down or you decide to leave the industry. Ideally, you should be able to sell them, keep them, use them as collateral for loans, or even pass them off as an inheritance. They should function like any other investment.

This issue can become especially dire if you find that you are unable to work or you pass into the next life unexpectedly. In such a case, you will need to be able to transfer that residual stream to new bank accounts.

Make Sure Your Agreement Isn't Exclusive - If you allow yourself to be taken in by a contract that demands your exclusivity, especially if you are new to the industry, then you have just entered an unhappy marriage of sorts. It might not be that you even dislike the processor that you're working with, but you are at a disadvantage if you can't see what else is out there. You never know when you'll be able to find a better deal or a more flexible company to work with. It's perfectly fine to have multiple relationships with many companies before you settle down with your favorite, and an exclusivity deal is going to hinder that, so make sure that you look over the contract closely.

Be Sure That Your Can Sell Your Residuals to Someone Other Than Your Processor - Again, if you can't sell your residuals or transfer them to someone else, you don't really own them. However, some processors have clauses in their contacts that compel you to sell your merchant account residuals only to them. This is obviously problematic if your processor isn't in the mood to buy.

Now, it's not out of the question if your processor demands the right to give you an offer before anyone else. Just make certain that aside from this, you can sell your residuals.

Think of the Future - Remember that companies always change, so you're probably going to want to consider a few things before you make an agreement. Where is this company headed? Are they likely to go through a merger or are they likely to be bought out by another company in the near future? This could potentially affect your residual income, so it's important.

Make sure that the agreement you make protects your residuals. If circumstances change, there are a few things that you can do, such as taking a buyout from your processor, taking one from a third party, or continuing under your current contract, which should be honored by the processor regardless of a merger. You may not be able to sell new accounts under the old Schedule A in such a case, but you should be able to continue getting paid in a similar fashion as before for the deals that you already closed.

They Should Not Force You to Buy Their Hardware - Your processor should not demand that you only buy equipment from them, and you should be free to choose your supplier. Now, it's perfectly fine if the processor gives you incentives to buy from them, such as heavy discounts, but you should not be forced to do this as per your contract.

Be Sure Their Reporting is Accurate - The rates of a given processor may be great, but that means nothing if they're actually charging you much more in hidden fees. You should be able to look up reports of what fees they are charging you and what residuals you are receiving, and the actual numbers that show up in your bank account should match this.

Go with a processor that offers the opportunity to look at reports online. This will help make everything more clear.

Never Pay to Become a Sales Agent - As in any other field, if you must pay upfront to join a sales team, then something fishy is going on. Don't fall for programs that charge you for training; there are plenty out there that offer similar amenities for free. There is simply no reason why you should have to do this, so be wary and steer clear from these kinds of processors.

Find a Company That Communicates Well - One of the most important things in any relationship—business or otherwise—is having good lines of communication. You should be able to have your questions always answered and your concerns addressed in a timely manner.

Also make sure that you have access to the management of the company that you're working with. This will help you get what you need much faster and it will also help avoid miscommunication. Going through all the members of the company's hierarchy can be like a game of “telephone,” after all, and things can get distorted.

Finding a processor to work with when you're starting out can be overwhelming, but it helps to know that there are many good ones in the industry. The key is to try many different companies and eventually find one that you can build a strong, long-term relationship with. If you're still having trouble finding the right one for you, though, feel free to get into contact with North American Bancard, and we'll help you out.

Best Cash Discount Program for Agents, ISOs, and Resellers
Wednesday, July 01 2020

For agents and resellers that work with merchants for their merchant services, it is known that the happier that you can make your client, the better. There are several ways that you can do so, but one of the most surefire ways to provide your merchants with as many benefits as possible when working with your merchant services company is to provide them with a cash discount program that helps to make the cost of accepting payments as inexpensive as possible. In addition to saving the merchant money on their transactions, you can also earn more as an agent by signing up your merchants for this program and earning incentives and bonuses that come along with it. If you’re looking for the best cash discount program from all perspectives, then you should set your sights on the North American Bancard EDGE Merchant Cash Discount Program. This innovative program contains plenty of benefits for the agent, merchant, and consumer.

 

What makes the North American Bancard EDGE Merchant Cash Discount Program the best?

There are a number of features that have helped to vault this cash discount program into the first position when you consider the best cash discount programs currently available to merchants around the world. Here are just some of the benefits that you and the merchant will enjoy when you decide to use this cash discount program.

 

No cost to the merchant

The main draw of this program is that it is going to help put more money in the pockets of the businesses that you are working with. Your merchants will be able to experience higher profits because the EDGE Cash Discount Program is designed to eliminate the processing fees for merchants to profit the same on credit and signature debit transactions that they do on cash transactions. If a merchantlooks at what they spend annually in order to process electronic payments, those savings will adsup.

 

With the EDGE cash discount program, merchants won’t have to worry about those expenses because they are being recouped in the higher price for signatue credit and debit puchases. This is a great selling point for your merchants because it enables them to recoup a cost that they would otherwise have to pay and saves thier business money. There is no cost to ebroll for the program, so they only have money to gain from enrolling in the program.

 

No contract

Another major benefit to the merchant is that there is no contract associated with the EDGE cash discount program. That means that even if merchants want to try it out for a few months to see the effects on their business, they can do this without fearing having to get locked into a long contract.

 

As an agent, this allows you to quickly and easily build trust with your merchants. You can show them the power that the EDGE cash discount program can have on their revenue without having to lock them into a contract or pressure them to do something they don’t want to do. With a free, no-cost, no-obligation program, your merchant will feel as comfortable with you as ever.

 

Free equipment

In addition to the no-obligation and no-cost contract with this trailblazing cash discount program, you'll also be able to offer your merchant free equipment to help make the transition easier for their business. This all begins at the POS system, which is the channel through which every transaction in the business flows. You'll be able to offer your merchant an updated POS system that has everything they need to make the switch to the EDGE cash discount program in a smooth and organized manner.

 

Apart from the POS system, you will also be able to offer signage and marketing materials to your merchants to help them advertise and raise awareness for the program. These materials help everyone to feel on the same team and help your merchants feel as if they have the resources that they need to succeed.

 

Easy to explain

One of the main challenges that merchants face when trying to change the way that they accept payments and charge their customers is the ease with which they can explain the change to their loyal customers. Merchants are not easily convinced to make a major change for fear of angering their long-term customers or confusing them. This giant hurdle is what holds many merchants back from moving forward or making productive changes.

 

With the EDGE program, you’ll have what you need to convince merchants that it won’t be a large leap when it comes to the trust and relationship between them and their customers. The EDGE program is a very simple, easy-to-understand program that won’t confuse buyers and will make merchants very happy.

 

How it works

To help our agents and merchants further understand the complete process of the EDGE cash discount program, here is a short guide of what you can expect to happen when the EDGE cash program is implemented.

 

Paying with cash

With the EDGE program, paying for an item with cash will be relatively unchanged. Customers will see the advertised price of the item, go to the register, hand the cashier their cash, and purchase their item. They will pay the lower price.

 

Paying with plastic

Paying with plastic will be a slightly different process than before. To encourage consumers to use cash and recoup expenses associated with electronic payment methods, a second, slightly higher price is charged on the item at checkout, increasing the cost of the purchase for the consumer. In this situation, the consumer is able to use the convenience of plastic and the merchant is able to recoup those expenses that are incurred when accepting cards to help their business and increase their margin.

Placing Free Credit Card Terminals VS Leasing Credit Card Terminals
Saturday, June 20 2020

When you are selling merchant accounts or looking for a merchant services agent program to work with, one of the major things that you will have to consider is whether you want to offer your customers free terminals or whether you want to offer them a leasing deal. As with so many other factors in this business, it really depends on the specific customer. You must spend some time examining their needs before you can decide which option to sell them. You will find that different merchants have different goals, as well as different amounts of capital that they can provide upfront.

You might also notice that, more and more, merchants will expect that at least their basic, entry-level terminals will be free to use. Lots of newer, innovative merchant service companies have taken to lending free equipment to their customers, as well as supporting the hardware and software for free, so you will want to take this into consideration as well.

Let's go over what these two options really are in a bit more detail:

Free Terminals - “Free” isn't exactly accurate here, since the merchant doesn't really keep the equipment. Basically, they are allowed by the service provider to borrow the POS terminal at no charge until they end their contract, and then the equipment is returned. You can think of this as being similar to how many broadband Internet companies loan routers or modems to their customers, which are then returned when the customer terminates their service.

This is an easy option for many businesses, especially those that are just opening their doors, because it requires essentially no upfront cost. There are sometimes monthly fees tacked onto this option, such as the cost to insure the machine, but for the most part, the merchant pays a lot less than they would have if they opted to buy their own equipment. Since POS terminals can be expensive, this is not a bad option for you to suggest to very lean startups.

Always make sure that a merchant services partner program that you are signing up with has some kind of free terminal plan, since a lot of merchants will want this. “Free” is also not a very hard sell, so you might find that it will be easier to close deals with a loaned terminal. Your job is first and foremost to sell your clients on the merchant account, and you will want to do everything in your power to make it easier for them to use it—that means making it easy for them to get the terminal that they need.

Leasing Terminals - With the popularity of free terminals, this has sort of fallen out of favor as of late, but it still has a certain amount of relevancy. Some merchants want to have their own equipment, and this could be for a number of reasons. Most commonly, a merchant may simply want to be able to switch service providers without going through the arduous process of re-learning how to use a completely new terminal.

Leasing terminals is not without its problems, however. Compared to simply buying a terminal outright, leasing one may actually be a raw deal for the merchant. Because they will be paying little by little for their equipment, they may not even notice that their money is trickling away over the course of months or years, and that they might end up paying five or ten times the market price for their POS system. It's nice to make small monthly payments, but as business owners, these merchants can't afford the delusion that those costs don't add up.

On the other end of things, leasing equipment can make lots of money for an ISO and a merchant services sales agent. Just as those monthly fees add up for the merchant, they can add up for the agent, and leasing equipment can mean a handsome addition to ones residuals. The bigger question is, however, should you sell merchants on such an unfavorable deal?

In general, the answer is no. Now, not all leasing deals are bad. Some equipment is actually quite cost-effective, especially modern, more simple POS systems that are based on popular mobile operating systems and touch interfaces. The leasing options from popular service providers are sometimes quite fair. However, there are still a lot of merchant service companies in existence that use these tactics to rip off potential merchants, and it's best that you avoid associating with them.

Your goal should be to build a long-term, sustainable relationship with your merchants. After all, this is what is going to give you sustainable, long-term residuals month after month. Being honestly concerned with your merchant's problems and offering them the best solution is also what will get you repeat business whenever it is time for them to buy added value products and services. You will want to cultivate trust, and it is difficult for a merchant to trust you if they feel that you have been trying to take them for all they have right from the beginning.

That being said, there is nothing wrong with selling a fair leasing option to a merchant if that is what they honestly want. By all means, listen carefully to the client's needs, and if you feel that leasing a terminal is a better fit than providing one for free, then give them what they need.

Regardless of what option you ultimately decide to give to your merchants, remember that no terminal is the least bit useful if your clients don't know how to use it. Make sure to partner with a company that not only offers various terminal options for your clients, but that has great training material and customer service to get your customers up to speed. After all, the sooner they are using your terminals to take in revenue, the sooner both you and the merchant service company can start seeing a new income stream. Make sure that your clients get what they need from the beginning, and you will be rewarded with few complaints, a strong reputation, and a consistent stream of residuals trickling into your bank account every month.

The best merchant services agent ISO reseller program is North American Bancard Agent Program. Choosing North American Bancard as your primary merchant services partner with earn you the largest commissions, give you access to the most powerful industry sales tools, and total sales support for you and your merchants. 

Download PDF: Placing Free Credit Card Terminals VS Leasing Credit Card Terminals​

Using Urgency When Selling Merchant Services
Sunday, May 31 2020

If you have past sales experience, that's often a plus, but a lot of the time there can be aspects of your past that will give you a disadvantage. For example, if you used to sell mortgages, you didn't have to worry too much about creating a sense of urgency, since people were already a little desperate because their new house was on the line. It's not too different if you're selling the actual houses either; if someone has sought out a real estate agent, they're looking to buy. The same goes with selling cars, since many of the people who are coming to you really need a new one and can't go very long without transportation. Your job would be a lot harder if you had to go up to random people on the street—or worse, random people getting out of their cars in a parking garage—and ask them if they needed a new car. Sounds ridiculous? Well, this is basically what your life is like when you're selling merchant services. This is why the mindset is completely different in this field.

Obviously, there are positive and negative aspects to this. Once you have convinced a merchant that he'd do better to change to your plan, making the actual deal is usually smooth. Just don't mess up, and you'll have a good closing rate. Another great aspect of this business is that once you convince a merchant that they need to change their processor, they will probably buy those services from you and not another random agent. This is all great, but unfortunately creating the sense of urgency that will get them to make a change is one of your biggest challenges.

Let's take a look at these guidelines that will help you create more urgency when selling merchant accounts to your prospects:

1) More prospects = more sales. You are going to have to accept that you will have to deal with a much higher volume of prospects than in other fields to close a decent amount of deals. If you used to sell mortgages, for instance, your conversion rate is probably high—maybe as high as 1/3 of your prospects. A big reason as to why this is comes down to the fact that your clients already have decided what they want to buy and are coming to you for help.

If you find a quality lead, the conversion rate is actually about the same when you're in merchant services, but the problem is that you will have to go through many people to find quality leads. You might walk into two dozen stores, but only find yourself able to talk to 20% of the owners, and only 10% of the stores you walked into had genuinely good prospects. A good prospect is someone who realizes that they could use your services and is eager to explore the options. This is why you shouldn't get discouraged if you find that you're having to visit tons of businesses just to make some progress. This is how the game is played.

2) Take it a step at a time. When you first make your pitch, you want them to reach a point of understanding that they need to make a change; don't rush them into make the full decision just yet. Your job at first is just to convince them that they would be better off with another service. Yes, you might be able to convince them of this and close the deal in the same session after you've had some practice, but these are still distinct steps. Just make sure that you don't make the assumption that the merchant wants a different processor—at the moment, they're probably not even thinking about it. You will have to convince them. The problem of course is that most merchants don't even think of this as a problem. They already put together their processing solution and they don't need to worry about it anymore, as far as they are concerned. They would rather put their attention elsewhere.

How can you overcome that default resistance and make them open to the possibility of switching? Well, you should show them that you're not trying to throw a wrench in their plans or rip them off. Let them know that you are only showing them how much they could save if they reconsider, and that they can use your service if they want to. Try to focus on convincing them that they need to switch more than that they need to go with you specifically. Tell the client straight up that you are not interested in signing them up that day. They should be under the impression that you are interested in getting to know their needs better, and that you are merely opening them up to the cost-saving possibilities of finding a better credit card processor.

3) Have some kind of bonus or offer. People like being just in time for “special” deals, and this can create a huge sense of urgency if it is available only for a limited time. Since you will have to get them out of that “analysis paralysis” mode and into a decision, it will help them to focus on closing the deal if you have some kind of time limit like that. As soon as you convince them that they need to make a change, you can start discussing your various juicy offers. Let's look at a few different routes that you could take:

Give them a Free Cash Gift – They may be a business owner, but chances are that they're pouring all of their personal resources into the business. It may not seem like much, but offering them something like a gift card or cash back when they make their account will certainly entice them. Make sure to start out letting them know that they won't have to pay any fees upfront if you work with a free terminal program or something similar, and then throw the free money on top of that to sweeten the deal. It doesn't have to be a huge amount of money—just 100 dollars will suffice—and you can easily take this out of your upfront signing bonus. Make it a point to mention this deal in your advertising. Basically, the merchant has nothing to lose here, and will actually make money upfront from the deal.

Give them a free terminal – Believe it or not, there are still merchant services ISOs out there that do not offer free terminals with their deals. This can be for a number of reasons, but generally-speaking you want to steer clear of these companies when you're choosing a partner. Make sure that there is an option to offer a free terminal to the merchant, since this removes a major upfront cost. Much of the resistance that you will encounter has to do with these upfront costs and whether or not the merchant has the liquid cash to cover them. Bring a terminal in personally if you can to show them an example of what they can have for free. Tell them you're offering it temporarily. Guarantee Them Monthly Savings – You need to first consult with them and look at how much they pay in fees to pull this one off. Tell them that you can save them a certain amount of basis points per month of the competitors. Find out how much processing they do, and multiply it by however many basis points you are claiming to save them. Just make sure that you don't work with very large merchants here, or else it could cost you too much money.

Once you have established how much they are going to save with you per month, make sure to zoom out and show them the big picture. Tell them how much they are going to save over the course of a year or two years. Discuss these big, long-term numbers instead of the tiny savings of 10 or 20 dollars that you might be able to pull off every month. These bigger numbers are certainly more motivating, and will get them to consider your offer much more readily, especially if some of the other offers above are included.

Hopefully, these tips have enlightened you at least a little bit as to how you can create urgency in your prospects. Do you still have questions? Let us know! Contact us anytime and we will be happy to help you.

Final Tip: Choosing the right partner in the merchant services business is key. We reccommend setting up your agent office with North American Bancard Agent Program. The award winning ISO sales partner program is your go to for becoming successful as a merchant services sales representative.

Download PDF: Using Urgency When Selling Merchant Services​

Merchant Services Prospecting and Marketing
Saturday, May 30 2020

No matter what business you're in, you're not going to get very far without going out there and finding prospective customers. Whether you do this in person or via the Internet, you're going to have to find a strategy to funnel new customers into your business. There are lots of different ways to do this, but the most important thing to keep in mind is that you don't have to come up with everything on your own. There are already proven marketing strategies for selling merchant accounts that exist, and you can simply use those models and apply them to your own business. Especially if you are new to this field, don't waste your time trying a million things that might not work, when you can employ time-tested techniques.

The key is to keep things simple. No matter what specific tactics you go with, your strategy should involve finding your niche or market, finding out what they need, delivering that need, and then spreading the word about your services. At its core, that is basically it, but let's take a more detailed look at these various aspects:

Finding Your Market - Ask yourself a few questions. For example, who would use your services? In your mind, who is the ideal customer and who do you envision yourself working with? What kind of merchants have the sorts of problems that you know for a fact that you can solve? If you're already selling, what kinds of businesses seem to buy from you the most?

From these questions, you can begin to narrow down where the money is. Let's say for instance that you are selling POS services as a merchant services agent that come with a free terminal and a low monthly fee. You might find that small startups and coffee shops gravitate to your product more than larger warehouse stores. If you focus on the people who are truly interested in your product because you actually solve their problems efficiently, then you won't have to do much persuading. The best ROI when it comes to marketing happens when people already want to be sold to, so it's important to identify who that is and not waste your time trying to seduce people who would be less interested.

Finding Out What They Need - Of course, as trends in technology and in the market change, your clients' needs will be changing, too, so you should make sure that your concept of their needs is constantly evolving. However, you will want to have a general idea of what your clients are looking for at any given moment.

Think to yourself: Why would they want to buy from me? If you can't answer that question, then you have not catered your products to their needs enough and you may not know how to truly solve their problems. The cure for this is to listen. What products do your current clients give you good feedback about? What do they complain about? If you've lost clients before, why did you lose them? If a client chose you over a competitor, why was that?

Delivering What They Need - Once you know what they want, you have to have the ability to deliver it of course. This is why you shouldn't marry yourself to a single merchant service company. First and foremost, you need to deliver what your market wants, and the company that you choose as a partner needs to cater to that need. This is why you should keep your options open and always be on the lookout for new and better solutions to your customers' problems.

Spreading the Word - In other words, you must market your services, or else few people will know that you even exist. When people recommend you to their colleagues, this is of course the best kind of marketing, but before you've built up a reputation, you're going to have to tell people about yourself. There are several ways you can do this. For example, you can attempt to pay for leads that you meet in person, you can go the telemarketing route, you can pay for leads online, or you can even run pay per click (PPC) campaigns to draw new customers in. They all have their virtues, and you should choose a tactic that plays on your strengths.

Now that you know about your audience and can deliver on their needs, as well as spread the word about your services, how do you turn your prospects into customers and continue growing your business? That is the age-old sales question, indeed. Follow these general steps, and you can begin to see growth:

Step 1) Find Prospects the Right Way - This happens before you even begin persuading the prospect of anything. The first step to converting people is to find the right people so you're not wasting your time! Don't cast a net so wide that you find yourself talking to people who are completely uninterested in what you have, or even people who are only partial matches who need lots of convincing. Especially when your business is young, you don't have time to waste. Put effort into prospects that have shown a previous interest in buying your kind of merchant services. You can do this by buying highly targeted leads or by getting referrals from other customers and businesses. You can also try hanging out where business owners do, for example at local entrepreneur or business meet-ups.

Another great way to do this is to keep an eye out for new businesses as they open. If you sell POS systems as a merchant services agent for liquor stores for instance, look up who has purchased a license lately. You can even start by servicing people that you know personally who are in your professional network.

Step 2) Give Them What They Need - Solve people's problems, and they will sing your praises. Testimonials from other business owners can be very powerful when drawing in more business. Make sure that your existing customers have nothing but good things to say about you, and the rest will often take care of itself.

Step 3) Make Friends - Referrals are some of the best sources of merchant account sales. Partner up with others who are in business-to-business fields, but who are not direct competitors and have them refer their customers to you. For example, you can work with CPA's, printing companies, or even web designers. Basically, if you know someone who would be working with new businesses constantly, offer to trade leads with them if the customer genuinely needs the service (and they often will). Using these techniques, you will find that getting prospects and converting them into paying customers is a lot easier. Above all, always remember to deliver good service and you will always have an eager customer base.

DOWNLOAD PDF: Merchant Services Prospecting and Marketing 

Best Credit Card Processing Company to Work For
Friday, May 29 2020

One of the first things you are going to need to consider when you start your journey in the credit card processing business is what merchant services ISO program you are going to work with. Whether you are planning to become a merchant services agent or an ISO yourself working under a larger company, it's important to examine all of your options. If you're not cautious, you might find yourself signing up for a bad deal or even getting scammed out of your residuals.

So which is the best program to sign up with? Well, the short answer is that there is no “best” program for everyone. Each ISO is different, and so is each sales agent. Everyone has different goals, and so it's important to find a company that will be a good fit.

However, a lot of agents are seeing success working with North American Bancard. They offer some great commissions and residuals, and are a great choice if you're a beginner in this field. North American Bancard agent program has a diverse amount of products and services that you can offer to many kinds of businesses, so you don't have to worry about turning away merchants just because they work in a certain industry or are considered “high risk.”

North American Bancard agent program is one of the best in the country and has relationships with many different processing banks, which allows them to be versatile with the kinds of businesses that they accept.

Is Your Merchant High-Risk? No Problem! - Competition is a great thing for customers in a free market, but it certainly reduces profit margins for providers. One way that credit card processors can stand to increase their profits is to expand their range of customers and get into the so-called “high-risk” arena. Indeed, working with overseas customers or customers who run businesses in tobacco, alcohol, or adult industries can be a bit riskier, but the revenue can also be substantially higher. Many times, merchants who are seeking a high-risk account have already been rejected when applying for normal merchant accounts, and they will be more than happy to work with you. Signing up with North American Bancard, you don't have to turn away merchants in this extremely lucrative niche!

How Much Can I Make? - North American Bancard offers residuals and splits that are similar to what you might encounter if you approach a large ISO directly. The draw here, though, is that North American Bancard allows you to work with many different processors, and greatly simplifies the processes of becoming a merchant services agent. You won't have to sign up with a dozen different merchant services ISO programs just to have a decent amount of options.

Here are some of the great advantages of using North American Bancard's program:

  • Give your clients tons of options when it comes to payment methods
  • Get up to $5K for every new account
  • Get a large startup bonus
  • Get residuals of up to 70%
  • Keep track of your accounts with apps and analytics
  • Get free training on the services you will be selling

Contact North American Bancard today and get started!

Download PDF: Best Credit Card Processing Company to Work For

Selling Point of Sale (POS) Systems | The Future of Merchant Services
Tuesday, May 26 2020

Over time, working in the payment processing business and the Point of Sale business as a merchant services 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. A merchant services ISO worth its salt will in turn have great free terminal offers that agents 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.

High Profit – 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.

Better Margins – 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.

Bonuses – 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.

POS Training  It might seem difficult to get started selling merchant accounts 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.

Webinars – When you are done with the basic course and are ready to get started selling, 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. Become a merchant services agent and POS expert with us!

Certification – If you feel that you want to expand your credentials even more, you can become certified with us. Visit our training center in person, and you can join our certification program. It involves a four-day 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 private label opportunities.

Get in touch with us today if you want to learn more about becoming a Credit Card Processing ISO or Agent!

Merchant Cash Advance ISO and Agent Program Details
Tuesday, May 26 2020

No matter how lucrative the business, a merchant may find himself lacking liquid capital when he needs it the most. Fast-growing businesses need a way to pay for large upfront costs, and sometimes they might not be able to secure a traditional loan fast enough. Rather than waiting to save the money or struggling to find an investor through the usual avenues, merchants can also seek a merchant cash advance from their credit card processor. In fact, not only can this be a great solution for merchants, but it can be an incredibly lucrative opportunity for merchant cash advance sales agents and merchant cash advance ISO's.

If you're an agent who wants to increase your revenue substantially, you should probably consider looking into merchant cash advances. At the very least, look for a partner company that offers a good merchant cash advance ISO program as an option for your clients—you may find that they are more in demand than you might have initially thought.

How can merchant cash advances make you money, though? Well, first, let's a explore a few aspects of these deals and how they work:

What is a Merchant Cash Advance?  

In short, this is when a credit card processing company buys a percentage of the merchant's future credit card sales, giving them cash up front. It's essentially a loan that is guaranteed by the future sales, and there's no need for collateral because the processor automatically repays itself every day. Perhaps you have experienced something similar as a consumer, where you guaranteed a short-term cash advance with a post-dated personal check. This works in a similar way, except with the promise of a portion of the merchant's revenue.

The merchants can then use this liquid capital in a number of ways, just as they would with any other loan. For example, they may purchase equipment to make their business more efficient, use the money to open new physical locations, update their technology, buy more inventory if they anticipate a spike in demand, or attempt to expand their business through marketing efforts. Generally, it's a good sign when your client intends to use the money to grow.

These cash advances are easier to acquire than normal business loans on the merchant's side, and they are somewhat less risky on the credit card processor's end, since they will automatically retrieve the funds from the merchant's sales that they process. So long as the merchant stays in business, default is unlikely. Usually the loan is repaid in full in less than a year.

How Will this Make You Money?

When you find a partner company that has a good merchant cash advance ISO program, you'll greatly increase the service that you can provide to your client. That alone is great, but just as with any deals that you help create between the end client and the processor, you will receive a commission based on what the processor makes.

Even better, if you choose a good program, you will often also have the choice of funding part of the deal on your own, which means that you will have a much greater share of the profit. Partnering with a company that has this kind of merchant cash advance program is therefore a great choice if you are ready to start investing your own money very heavily. If you find that your pool of merchants is limited or you simply don't want to concentrate on acquiring a huge volume of clients to increase your monthly income, you can raise your revenue per client by offering cash advances as a service to them.

The good news is that these days, taking advantage of this opportunity is as easy as partnering with Shaw Merchant Group. SMG can help boost your businesses' revenue by offering extremely competitive rates and deals that will help your merchants get the funding that they need.

What Happens When Your Merchant Gets a Cash Advance? 

The process for offering a merchant cash advance to your client is rather simple. As soon as you are signed up with a program, such as the one offered by Shaw Merchant Group, you can make a deal with the merchant.

The merchant will agree to sell a certain amount of future sales to the processor (equal to the amount of the advance, plus interest), and they will receive all of the cash upfront. From there, the processor will either take a percentage of each of the sales automatically, or else they will take a certain amount every day from the merchant's bank account. This is very convenient for the merchant, since there's no extra paperwork to do every month and the payments happen silently. When the amount (plus interest) has been repaid, then the processor will stop automatically deducting this money and things will go back to how they were before the merchant cash advance.

Depending on how you arranged the deal, you will receive commission for this upfront. However, if you put your own money into the equation, you will receive interest from the payments in accordance with how much you invested. By the way, you can also receive commission for the portion of the loan that you did not fund, just as you normally would. This is part of what makes these kinds of deals very lucrative for merchant services sales agents and ISO's.

When you work with Shaw Merchant Group, you can choose to invest some of your money or none of it at all, so it really is up to you how much risk you would like to take. Since you work closely with your clients and understand their individual situations, you probably have a good idea of where you would like to put your money to work and which clients represent a better investment.

As you can see, offering merchant cash advances as a merchant cash advance ISO is a good move once you have some basic experience in the credit card processing business. Get in touch with Shaw Merchant Group and we can help you design a great solution for your clients that will help them to reach their goals faster.

Download PDF: Merchant Cash Advance ISO and Agent Program Details

Merchant Services Sales Presentation | Selling Merchant Services
Tuesday, May 26 2020

Have you already analyzed all of your costs and you're ready to come to the merchant with your offer? Have you been wondering how to present it in the best way possible? It's important to keep a few guidelines in mind when you are making the presentation:

1. Assume that the “yes” was already said. The point of your presentation is to show the merchant all the details, not to make a close. Why? They are listening to you, so they are probably already sold. Make that assumption, and you'll be less prone to pushy sales tactics that will turn them off. After all, why wouldn't they buy from you if you're giving them the best deal?

2. While you are going over the fees with the merchant, keep things simple. They really don't need to know all the dirty details, and honestly they probably don't care and will just get confused. Point to some of the main critical items and discuss those, but don't get long-winded unless they ask. When comparing yourself to your competitors, by the way, it will seem suspicious and dishonest to the merchant if you don't throw in one or two negative things about your plan—just make it obvious that the good things overwhelm them.

3. Show your merchant their long-term savings. Avoid focusing on what they will save per month, and instead bring up the big picture, such as what they will save in a year or two years. These big numbers are not only more impressive, they are also the ones that matter to their business ultimately.

Explain your reasoning step by step as well, and how much you think they will save over the lifetime of the account. Bring up examples of what they could in turn invest that money in instead of credit card processing fees. Make the savings very concrete.

Finally, when you close, ask if they have any questions. This puts the ball in their court and makes them feel like there is transparency and obviousness in the interaction. If they have no questions, it also lets you know that you have done what you need to do.

4. Now you're ready to get to the paperwork. This is one of the most critical periods in the presentation, since you are changing modes and making the deal into a reality. Because of this, you need to use something that won't intimidate the prospect. If you very obviously ruffle around for paperwork and contracts and the like, the merchant could start to over-think things because the situation is getting “official.” Instead, make a smooth, quick transition to the paperwork. In fact, have the paperwork already out (under the cost analysis material that you were presenting), and you don't have to worry about this transition at all.

Once you quickly have laid out the paperwork, start immediately helping them to work through it. Ask some simple questions, like what the official name of their business is, what their legal name is, their address, and other details that make it obvious what you are doing. If they have a problem or object to your moving forward, don't worry, they will voice it! Otherwise, go until they say “no.”

5. Where you are more likely to meet resistance, of course, is when you have to input private information. Obviously, you don't know the merchant's bank account number or their SSN, and they probably don't want you to know it, either. In this case, give the merchant a pen and slide the paper towards them. Clearly indicate the section and have them fill it out, and always look away while they are writing the numbers. Don't make a show of it—just check your phone or something, or have some other polite excuse to not look at them until they are done. This private information is “inside” material, and people feel intimidated when “outsiders” get too close, so make it obvious that you're giving them space, or they may become hesitant, which is the last thing that you need.

6. Remember the follow up. When you successfully get them to sign, that's not the end of the story. You shouldn't suddenly abandon them just because you got what you wanted. Tell them that you're happy to work with them and ask them if they have any other questions. Stay with them for a bit to reassure them that their decision was the right one.

Best Processing Partner: Merchant Services ISO, Agent, Re-seller
Monday, May 25 2020

When you're in the payment processing industry, you need relationships that you can count on and partners who can open doors to the right opportunities. If you run a growing business in merchant services, North American Bancard wants to be that reliable partner for you. Whether you are a sales agent, a small ISO, or are simply looking to get started in the industry, North American Bancard can help you reach for the stars. We are a broker with solid relationships throughout this industry, and we work with some of the best processing firms in the business. North American Bancard has helped countless sales agents and ISOs connect with the right merchants and build the kind of enterprises that make huge residuals for years to come.

For us, our number one priority is the customer and thier needs. We believe that a truly lucrative long-term business can only be achieved after carefully studying what the customer wants and providing the kind of solutions that will last well into the future. This is why North American Bancard offers a diverse collection of customizable solutions that you can bring to your clients in order to give them the exact kind of service that they need. This is also why NAB takes pride in living on the bleeding edge of the field and embracing new technology as it finds its way into the industry. In our view, this is the only way to guarantee a high retention rate among customers, and long-term passive income for ourselves and our sales agents. North American Bancard holds that seeing the bigger picture and serving a diverse amount of clients is the best approach to take.

North American Bancard has worked with many different sides of the industry, including merchant services ISOs, bankcard processors, merchant processing banks, electronic payment platforms, check processing companies, e-commerce, gift card processors, ATM distributors, as well as added-value product providers. We can use our strong connections in this industry to make your business reach its full potential and become the kind of success that you envisioned it to be.

With North American Bancard, you have experts on your side who can deliver results and give you advice. No matter what sort of solution you need to provide to your merchants, North American Bancard has a plan for you to make your vision a reality. Whether you are new or you have found yourself growing faster than you previously expected, get into contact with North American Bancard to find out what you can do to move forward. We offer merchant services ISO programs for those who are ready to take the next step, and merchant services sales agent recruitment programs for those who are looking to expand their business past a one-man operation. If you are an agent yourself who is looking for a challenge and a good ISO to work with, we can help you, too.

When you are fighting to reach your goals in the tough world of merchant services, you need a company who knows what they are doing. Let us help you grow faster than you ever thought possible!

Merchant Services ISO Agent Guide to Credit Card Processing Agent Programs
Monday, May 25 2020

Merchant services sales such as POS systems and credit card processing are an invaluable part of any retail business, and as such the job of a merchant service company is critical. The role that the sales agents of these companies play is just as important, as they are the intermediaries that make all of these deals work. If you are a merchant services agent, you are going to need a merchant services partner that is on your side, or else you are not setting yourself up for success, and you are bound to disappoint your customers as well.

As a sales agent, you're running a business, so it's actually your responsibility to make sure that you have everything that you need to get the job done. Part of that responsibility encompasses choosing a merchant services agent program that you would be proud to be partners with. In business, relationships are everything, and you need to choose the kind of relationship that will benefit all parties involved, or else it won't be sustainable. Because of this, it is important to “shop around” and make sure that you have carefully examined the terms that you will be working with.

Not all companies will be worth it because they may be trying to get you to push a shoddy product or to try to sell way above market price, so you must choose carefully. There are a few key things that you should keep an eye out for that will indicate a promising choice, and ideally the company that you choose as your partner should exhibit all of these traits and provide you with all of these resources. Let's take a look at them closely to get a better idea of what your business will require:

1) A Win-Win Partnership - Of course, a business (even yours) will always act in its own self-interest, so agreements will often be skewed at least slightly in the favor of the merchant service company that you're working with. The point is to carefully review the terms and make sure that they are at least fair before you go ahead and sign up. It may seem like overkill, but you might even want to hire a specialized lawyer to look over the paperwork if you feel like you might miss something or if you're not totally sure what you're getting into. At any rate, make sure you have an exact idea of what the terms are before you get started or it may come back to haunt you later. As “the little guy,” you have a lot more to lose when things go wrong.

Here are a few things you're going to want to keep in mind when you're looking over your agreement:

- You shouldn't be liable for your merchant's losses or chargebacks. Make sure that this is stated plainly in black and white. You shouldn't have to bear any of the risk of the merchants and should be held blameless in the event of losses. You also shouldn't have to pay for any chargebacks that the merchant experiences.

- Your revenue sharing model should be balanced. This is especially true when it comes to your residuals. Make sure that you have a fair amount coming to you for every sale. You do all of the heavy lifting to get the lead, so you deserve a cut of the profits for as long as that customer pays.

- Don't let them force you into exclusivity. Don't allow yourself to be seduced by a single company because you never know how things are going to turn out, especially if you're new to the business. Relationships can fall apart, or you might notice better deals with new companies as you work. Never paint yourself into a corner and sign any kind of exclusivity agreement.

- Make sure that you get what you're entitled to, even after a contract ends. Part of what makes merchant services so lucrative is that you will have access to residual income streams even long after your initial sale. As the merchant services agent who established that lead, you are entitled to the residuals from the merchants that you have sold to. It doesn't matter if your contract with the merchant services company expires or is severed in some other way, you must be able to still receive that income for the life of the merchant's account. More importantly, you should be able to sell these residual streams as well, or secure loans against them.

- Make sure that you can move your merchants to another processor in the event that you are not paid. Normally, payment processors aren't going to want you to take the leads you gave them and then switch them to another processor, but you may have to do this to protect your asset.

This may take some negotiation, but you're going to want to establish that if the merchant services company fails to pay you your residuals from a given merchant, that you can switch the merchant to another service provider. This is not a completely exhaustive list, which is why you will want to check with a lawyer if you can. Speaking of lawyers, make sure that your contract specifies that you can recover attorney's fees in the even of a lawsuit.

2) A Price Structure That Works - Selling merchant services is a line of work with a huge potential for both active and passive income. As you might expect, this means that you're certainly not the only sales agent out there and that you have tons of competition. Though it is always best to not attempt to compete on price, and to focus on value creation for your customer, you won't get very far if your prices are too high.

Try to negotiate to get the best deal with the payment processor or else you are going to have a hard time selling your wares. The fees for your merchant can really add up, so make sure that you are passing on the savings. In the long run, the better deal your clients get, the better your residuals are likely to be. Remember that you are helping your merchants to stay in business.

Perform your due diligence and make all the calculations before you determine if a deal is worth it or not.

3) Multiple Payment Processors - Your merchant service partner ideally should allow your merchant to use many different payment processing services. The more options, the better, because there's nothing worse than losing a potential lead simply because they want to use their current processor. Whatever POS system that you are selling, it should be flexible and allow for many different processors and payment methods.

4) Good Customer Service - Customers are the heart of your business, and without them, you can't hope to thrive. Ideally, since so much of your business is based on residuals, you want to acquire customers that you can serve over the long-term. One of the things that will absolutely kill customer retention is bad technical support and customer service. You may be doing the best you can to solve your client's problems, but if the merchant services company can't hold up their end of the bargain when it comes to customer support, it is like you have wasted all of your efforts.

Makes sure to ask lots of questions before you sign a contract and do plenty of research about the company, because you are ultimately putting your valuable merchant connections into their hands. Take a few of these factors into consideration:

- The size of their customer support department. What kind of investment, in terms of labor, do they make in the realm of customer support? If you or your clients call to fix some technical issues, how long will you have to wait before you can talk to a human being?

- The quality of the customer support. Are the people on the other end of the line well-trained? Do they actually successful solve your clients' problems in a timely manner, or do they seem under-trained and clueless? Do novel problems that don't follow their script make them confused?

- The hours of their customer support lines. Do their customer support call centers have decent hours? Ideally, they would be available around the clock, though this isn't always realistic, of course. Another thing you will want to consider is what happens if a client calls and it is after-hours.

- Whether they do out-calls. Is the merchant service company willing to send tech support technicians out to your merchant's location? Many times, this can actually be faster and easier for your merchant than their having sit there on the line with a remote technician, especially if the problem is hardware-related.

- What is the training like? What kind of help does the merchant service provider give to your client to get them up and running? Do they offer training material? Do representatives from the company go on-site to show them?

- Are you informed about customer service issues or kept in the dark? At the very least, you should get a call or some form of notification when your merchant is having technical trouble. Even better, it would be great if they provide you with a way to remotely access all of your client's trouble tickets.

Remember all of these factors when you are choosing a good merchant services ISO/agent program. It can mean a lot when it comes to customer retention. The thing is, it may be hard to determine some of these things—like, for example, the exact quality of their customer service team—until you are actively working with them. This is why it is so important to never sign an exclusivity deal with any one company when you are first starting out, as there are always going to be a few unknowns that you can't quite fathom until you're out there helping your merchants to succeed.

5) Upsells That Actually Provide Value - A large percentage of the income that you will be making will come in the form of upells because it's simply easier to sell to an existing customer than it is to sell to a potential one. This is a classic example of the “foot in the door” technique, and you will find that you will be using it a lot.

Upselling can be a great source of income for you, but what about your customer? These are going to be long-term relationships for you, so you don't want to rip your clients off by selling them useless services that they don't need. This is why you want your partner to offer genuinely high-quality products that you can upsell to your clients. For example, if you sold a POS system to a merchant, and you learn from your regular communications with him that he is in need of liquid cash, you might be able to make a decent profit if your merchant services partner also allows you to sell short-term merchant loans.

6) Free Terminal Deals - Sometimes clients aren't going to want to pay for hardware upfront, especially if they are going to be paying a substantial monthly fee. A similar evolution has happened in other subscription-based electronics industries, such as the cell phone industry, where the customer receives the hardware for free or at a huge discount, but pays a service fee for its use. Nowadays, the POS industry is leaning in this direction, so don't be surprised if your clients don't expect to pay anything upfront.

In order to cater to this demand, make sure that your merchant services ISO offers a free terminal deal, even if they have other options that require paying for hardware. As time goes on, you may find that there will be more and more of an expectation in the market for free terminals, so be prepared. If the merchant services offer all-inclusive package deals that will get the client started for absolutely no upfront cost, that is even better. If your potential client basically has nothing to lose, then the sale is much more likely to happen. A lot of the time, paying upfront for a equipment isn;t really worth it unless there is some major advantage to it, such as greater flexibility and not having to be tied to a specific merchant service provider.

7) Decent Analytics - In our age of technological progress, there's really no excuse for a merchant service to not provide you with analytics on the back-end. This will allow you to manage your business and examine where the money is coming and going. You might have access to a few different kinds of information, including your merchant's sales activity, their history of tech support calls, and maybe even information about your own residuals or the activities of agents who are working under you.

When it comes to any business at all, you can perform the trial and error that you need to perfect your sales strategy much better once you have access to a decent level of analytics. Ask about this before you decide on a merchant service company. Even if you don't plan to make heavy use of these tools (though you should) it at least shows that your partner is technologically advanced and that they are ready to meet the challenges of the future head-on.

8) Good Training Material - There's no point in your client even purchasing a POS if he isn't going to know how to use it. Examine your merchant service provider's training and information material. You want to do this before you get started selling because 1) you need to familiarize yourself with how the system works if you are going to sell it anyway and 2) you need to decide if the information material is actually decent.

A good service provider will offer more than manuals, too. You want online resources, and some sort of training program, especially one that involves representatives from the company coming out to the field and showing your client exactly what they need to do. As with providing good customer service, a decent training program of some kind is critical. If your client feels that the system is too difficult or cryptic to use, he is bound to drop you sooner or later, and that is a stream of residuals that you will lose out on.

It just makes good business sense to make sure that your client is on board and that there are no problems from the beginning. Play the long-term game by making sure your merchant has everything that he needs.

9) Leasing - Though, as mentioned before, you will probably find that more and more of your clients will expect a free terminal, since the industry is trending in this direction, some clients will still want to lease equipment for various reasons. Perhaps they are interested in something more high-end, for example. Maybe they want a terminal system that is not tied to a specific merchant service, so that they have the flexibility to switch if they feel the need, but this means that they must buy the hardware themselves.

Even when a client wants to pay for the equipment, though, he might not have to pay upfront. Having a fair leasing plan means that the client can afford the terminal even if he doesn't have as much capital to spend upfront. This kind of flexibility is key in accommodating all kinds of merchants, and you want to look for a merchant service provider that offers this kind of option just in case.

As with any other kind of sale, you should receive a percentage of the monthly payments that your merchant makes on the equipment. Make sure that this is part of the agreement before you sign up.

10) Help Analyzing Statements - Reading statements and coming up with just the right pricing for your client can be complicated. This can be a headache even for people who have been working as merchant services agents for awhile, so you can imagine how confusing analyzing all of this unfamiliar financial information can be for someone who is totally new to the business. Make sure that your merchant service company is willing to help you on this front, and that they will provide you with statement analysis services if you should find that you need them.

Getting into merchant service sales is a great choice if you're looking for a challenging and rewarding career where you can legitimately help customers while making a decent income for yourself. There are few lines of work that allow this level of residual income and revenue sharing, and there are many directions that you can take in this business.

The first factor that you should keep in mind, though, since it affects so many other things, is your choice of partner company in this endeavor. They should be willing to give you a fair cut of the deals, should be willing to negotiate with you on the details, and they should provide good customer service to your merchants that will allow you to retain them as customers for a long time to come. The key here is to find a company with which you can forge a long-term relationship that works for both of you.

Not all merchant service providers are created equal. First and foremost, you will want one with integrity—this is the trait that really encompasses all of the others. A company without integrity is not one that you will be able to work with in the long-term because you will never be able to create trust. Make sure to perform your due diligence an research the reputation of every merchant service that you're considering working with, but a good place to start might be with North American Bancard. They are a solid company to work with and have a great reputation of helping their merchant services agents every step of the way. Of course, you don't have to take our word for it—always ask for recommendations and look at reviews before you make that first critical partnership decision.

Merchant Services Agent ISO Guide to Selling Merchant Accounts
Sunday, May 24 2020

Merchant services are quickly becoming the hottest field in the technology and commerce industry as more and more businesses realize the importance of having a robust and functional payments solution that works well for their business. As a new agent or ISO in this space, you are probably extremely excited to begin and start making a name for yourself in merchant services. If you are new to merchant services, there is some advice that you must have if you want to have success and avoid some of the errors that many must make early on. With this knowledge in hand, you'll be a step ahead of the competition and well-poised to earn a good income as a merchant services agent.

 

This rundown of who you should sell to and how will give you knowledge that has been passed down from many merchant services agents in the hope that new merchant services agent will follow the advice and make the industry a better place to work. The earnings potential for a merchant services agent is high, but you can raise the bar even higher if you follow these actionable tips that will show you exactly how to interact with businesses and which businesses you should be reaching out to.

 

Know which businesses to leave alone for now

One of the most important skills that you are going to learn when you are a merchant services agent is which businesses need your services that you should target. However, an equally important skill is to learn which ones you shouldn’t even bother talking to at the moment. Knowing which businesses to target could get you some nice results, but knowing which ones to wait on could be the accounts that end up feeding you residual income for life. That’s because these businesses are often larger and more established than the typical startup small shop that you might target right out of the gate.

 

One way to know if you should not even bother with a business is if you walk into the business and you see a POS system. Unlike a standard terminal, these are complicated systems that are difficult for the beginner agent to comprehend and speak knowledgeably about. Typically, these belong to businesses that have been around for a while and if you even get a meeting with them, they are going to want references. You likely won’t be able to provide them with any, since you are just starting out. They also will want you to understand their current system, which you probably don’t, because again, you are new. Once these things happen, you can pretty much forget about this sale forever.

 

However, if you make a list of these businesses and target them at a time that you are more established on the business and can actually guide them, then you might have found yourself a client for life. So, don’t waste your time and resources going for a big client like this right out of the gate. Get your feet wet with some smaller clients and come back to these ones later.

 

Stay local when targeting businesses

If you are just starting out, then you might be tempted to track down a friend or family member that has a business that operates out of state or online and try to sell them on a merchant services package. This is not recommended. Not only because you should never mix business and family, but also because walking these types of businesses through the setup process is much more difficult and requires much more attention and care. Failure to complete the setup process could prove disastrous for your relationship and your confidence. Don’t try to set up these businesses with a merchant services contract unless they are local. It will save you time, money, and hassle.

 

Always be networking

When you think of being a merchant service agent, you might think of the traditional method of reeling in clients like cold calls and cold emails. However, the world has changed since credit card processing first came out and there are new ways to build relationships. One of the best ways to do this is by always networking. Networking is a valuable skill to learn and it can be done in a variety of ways. Networking could mean that you simply start meeting and talking with the people in your professional circle about whether they know any businesses that need to evaluate their merchant services needs. It could mean speaking with past clients about any business colleagues they have that have merchant services needs.

 

One of the most popular ways to network for new business connections in the modern world is to join professional apps and platforms such as LinkedIn. With these platforms, you’ll be able to find business owners and managers in your area that could need merchant services or might be interested in what you have to say. If you are going to be successful in being a merchant services agent, then you need to establish a consistent pipeline from a variety of sources that makes it easy to continue bringing in the customers without having to rely completely on cold-calling and cold emailing. Building a network through online or in-person networking can help to establish this for you.

 

Be selective of client type

Though you might be eager to make any sale that you can get your hands on, sometimes it really is better to take the cautious approach. Just like clients are selective in who they partner with to handle their processing, you also should be selective of the client that you work with. There are many industries that you might not want to touch or simply are a bad fit for what you offer as a merchant services agent. There is such a thing as a bad fit in this industry, and you would be well-served to recognize it before it happens because it just creates more hassle than the short-lived sale will be worth.

 

As a merchant services agent, you need to be able to know when it is best to walk away from a potential deal due to compatibility issues between you and the client. One example of a business that you should avoid is anyone that is doing all online sales. Most merchant services solutions are just not designed to handle these transactions well and you should avoid them.

 

Evaluate profit before jumping in

One of the most important things that you can do as a merchant services agent is trying to evaluate and estimate the profit that you'll be making from the sale before you actually commit to it. Too many young merchant services reps are too eager to get started that they lose sight of the risk to reward ratio and don't track the time that they will actually be spending on the setup, support, and other time commitments that it takes to onboard and maintain a merchant.

 

If you have an account that is only making you $25/month, then you probably already know that it’s just not worth the hassle for that small amount of residual income. For many merchant services agents, it is advised that you walk away from any deal that makes less than $30/month. We know that it’s difficult to walk away from any amount of money, but the time that you spend maintaining that account could be much better spent on landing a client that could bring in hundreds of dollars per month.

 

Go easy on the discounts

If you’ve been trying to make a sale for a while or you want to get out to a fast start, you might be very tempted to make some very bold pricing promises to your client to get them to sign on. You are encouraged to help make them feel more comfortable, but you should be careful with what you offer to close a sale. While you can estimate all you want, you will never truly know how much a merchant services contract for any particular business is going to bring in. You don’t want to spend more than 6 months of the profit from an account to close it, and you should always estimate on the very conservative side.

 

Even if you are desperate for a sale, you should always be very cautious in offering discounts because it could cause you to lose all profit that you make on the sale. In addition, your client might expect these large discounts every time they purchase going forward. That isn’t a precedent that you want to set.

 

 

Best POS Systems for Liquor Stores
Saturday, May 23 2020

Running a liquor store can be complicated, with all the licensing requirements and other red tape that you frequently have to deal with. You know what doesn't have to be complicated, though? Your point of sale system. There's no reason to make life more annoying when nowadays there are POS solutions that can track your sales, track your inventory, and handle all of your cashless transactions for very small monthly fees and often no upfront costs for the hardware. Many of these systems also mirror your data on the cloud, so that you can access all of your records remotely without a hitch. Imagine being able to print receipts anywhere or examine your sales numbers while you're sitting on the beach somewhere and your business is trucking along without you. 

Now, you may be thinking to yourself: “There are so many choices. Which POS is best for my liquor store?” If you're just starting out or even just looking to reorganize, you can't really go wrong with the all-in-one POS system. This is a POS with many features that work well for liquor stores, and in fact this company offers software that specifically caters to a variety of niche businesses, including wine and spirits. Let's take a look at some of the major benefits:

1) Tracking and Analytics: You need to keep track of what's going on in your business, or else you will never see the sort of margins that you are looking for. Selling spirits can be a very competitive business, so you always want to be checking up on what sells best in order to increase your ROI. The all-in-one POS system allows you to remotely access all of your information, so even if you have to go away for awhile, you can keep on top of the numbers. Another problem that you may face while running a liquor store is keeping track of all of the inventory. There are many different brands and varieties that you will have to keep an eye on, and this is hard to do manually. By letting a POS handle this, you will be able to know ahead of time when you are running out of key inventory so that you don't have to miss out on valuable sales. In addition, this allows you to keep an eye on what is flying off the shelves more quickly, so you can concentrate on your bestsellers more.

2) Customization: Every business has different needs, and liquor stores will vary by local tastes and regulation. You need to be able to customize the interface of your POS to suit your needs, and this is one of the places where the all-in-one POS system really shines. You can switch things around very easily and intuitively so that you or your employees can always find what you are looking for. For example, if you want to save time, you can choose to display your best-selling products prominently on the interface. The all-in-one POS system will cater to your specific needs, and they have many different software packages to offer that will make your POS's interface suit your business better. You can choose their custom liquor store software and this will make things a lot easier for you.

3) Hardware: The all-in-one POS system really delivers when it comes to hardware, since the processor used in this system is blazing fast. Don't make your customers wait more than they have to; get a POS that will work its magic not only quickly, but reliably. You don't want slow-downs and break-downs to throw a wrench into your business and frustrate the people who are keeping it alive. In addition, the all-in-one POS system is a real winner when it comes to storage capacity. Though all of your data is backed up on the cloud, you can expect to be able to hold tons of records locally, so you will always have access to the information that you need, even if your Internet decides to cut out.

4) Support: North American Bancard is known for their 24/7 support, and they are a very attentive company to work with. You don't have to worry about being left with a mess should anything go wrong—and things will occasionally go wrong whenever you are running a business. They guarantee their products as well, and will replace them if they ever break; it's nice to not have to come out of pocket for a hardware failure or a similar issue.

As you can see, the all-in-one POS system is a top-of-the-line machine. It is North American Bancard's best POS and can be customized to suit a number of different business styles, while still having extremely powerful hardware that will help you ring up your orders as fast as your employees can take them.

Now, maybe you're not ready for the “big leagues” yet, and are looking for something a little less fancy for your small business. This is totally understandable, and it's why North American Bancard offers the PayAnywhere POS, a POS system that is perfect for those who need something bare-bones, but still powerful. Best of all, the analytics are still there, the support is still there, and you can customize the interface of your POS as well. It's also available for a very small monthly fee, so you don't have to worry about upfront costs cutting into your early profits, and you can reinvest all of those savings right back into your business. You can always upgrade to the all-in-one POS system later if you find that you've outgrown the PayAnywhere POS.

There are a lot of things to consider when getting a POS for your liquor store, but the all-in-one POS system is a great choice, if for no other reason than its liquor-store specific software package. It doesn't hurt that the hardware is top-notch and that the support is constant, too. When you're looking for a POS, you want something that's not going to add needless complication, but which will instead simplify your business and make it easier to keep track of your affairs. Regardless of what stage your business is in, North American Bancard has a POS solution that will probably fit your needs.

Best Florist Point of Sale System
Saturday, May 23 2020

As a florist, it's your job to make people happy, and to help them express their emotions on special occasions. With all that you do to maintain your inventory and to keep your customer base satisfied, you probably don't want to be distracted by the technical issues of a POS. Who would blame you? Your mission is to sell flowers; why make it more complicated than that?

It is precisely because of this that giving some deep thought to the kind of POS that you want to buy is worth it. If you make the wrong choice for you, it could end up complicating your business needlessly and causing you a lot of headaches. You want something that will make your business easier to run, after all. Naturally, there are many different kinds of POS systems that you might choose from, and there are some great, useful choices on the market, especially considering how well technology has advanced over even the past few years. One good company from which to consider getting your POS is North American Bancard. They have a lot of great choices and customization options, and you will probably find a solution from them that will work for your business. As a florist, you will have some unique inventory and analytics issues, since what you sell is alive and particularly perishable, and you may have a delivery side to your business, so you need a POS that can be fully adapted to your situation; North American Bancard offers that.

Depending on the size of your business—whether it is only just emerging from the woodwork, or whether you've been around for awhile and you are just ready for an upgrade—you will want to approach a different solution. There are two main options here:

PayAnywhere Mobile POS Solutions

This POS is a great value, especially if your business is just getting started and you don't have a huge amount of capital to pay for a larger, more complex POS. All you need is to just get the money from the customer—be it cash, credit, or just about anything else—and keep some thorough records of all of your transactions and inventory. The PayAnwhere POS is a great choice if this is the case for you: It is simple, yet it fulfills all of the important functions of a POS. In addition, it provides a lot of customization features that you may not find in other point of sale systems of its class: You can alter the GUI quite a bit, even deleting or moving around elements on your home screen. You choose how simple or complex you would like your interface to be.

If you find that you're having trouble, North American Bancard has great support anyway, and they will give you and your employees training material from the beginning so that you can get to know your system. Chances are, you won't have much trouble with this, since it's so intuitive, but if you do, they are only a phone call away and you can contact them 24 hours a day.

By the way, even in its simplicity, the PayAnwhere POS offers thorough reporting on your sales and inventory, and on the trends regarding these. When you're a new or smaller business and are looking to grow, this is when analytics is most important, so you will definitely want a POS that can handle this. Even better, your reporting is not only stored on your physical machine, it is also stored on the cloud, so you have access to it anytime—even when you're away from your location. This is a natural and automatic backup system, so you don't have to worry about dealing with a nightmare of lost records if your POS has any hardware failures.

Speaking of hardware failures, North American Bancard has you covered if anything happens to your POS, and they will replace it for free.

All-in-one POS System

A little further up on the totem pole is the all-in-one POS system, and this can help you to really expand your business with all of its customization options. It offers more capacity, better hardware, and more specialized software than the all-in-one POS system. If your flowers are selling every which way and your florist business is expanding like the blooming petals of a rose, you are going to need a POS that will keep up with this growth.

If you're also in the business of flower delivery, the all-in-one POS system is particularly suited for your purposes. One of its great software packages is geared specifically towards delivery businesses, and includes a lot of added functions over the default POS interface, such as:

- Delivery driver tracking: You can keep track of the various trips that your delivery employees need to make, and even remotely assign them their tasks.

- Integrated caller ID system: If a customer calls you, a convenient display will pop up, telling you everything on file about the customer. Don't leave it up to guesswork; keep a detailed history of your best customers so that you'll know how to serve them better. A stable business is built upon repeat, loyal customers.

- Discounts and promo codes: Part of getting your customers to come back is to be as enticing as possible, and nothing is as enticing as a good deal. Reward your good clients with some sort of customer loyalty program, or simply give people coupons or promo codes to get them to try out your flowers. To be able to do all of this, you're going to want a POS that makes it easy to apply promotions to orders, and the Elite handles this like a champ.

One of the best things about both of these systems, though, is the cost: They are available for a monthly fee that is tiny compared to what you will save in time and logistics. You need a system that will take care of both the tasks of a cash register as well as the record-keeping responsibilities. Take a look at your business and analyze its needs, and you will probably find a North American Bancard POS that fits right in with your mission.

What Are the Best Point of Sale Systems Available for Food Trucks?
Saturday, May 23 2020

For a lot of people, being self-employed is their ultimate dream. They'd love to throw off the shackles of the office and travel around serving people who share their passion for whatever it is that they're selling. Of course, it helps if what you are selling is part of a booming business, and the food industry is certainly growing. While other markets contracted during recent recessions, both the restaurant and the food truck business have seen a rise in sales, as people have become more and more interested in convenience. This is a great time to be in the business of food trucks!

So, chances are, if you've just started a food truck business, the sales have been rolling in more or less steadily. Hungry customers are flocking around your mobile restaurant, eager to sample your dishes in the middle of whichever random parking lot you're serving today. You hand them the food, and they hand you cold, hard wads of cash in return...except when they don't.

“Oh, I'm sorry,” says one of your customers, her tone apologetic, if a bit nasally. “Do you take cards?”

That is the question, isn't it? Well, do you? Nowadays, cashless is the way, and if you're only relying on the old locked metal cash box with a couple of rolls of coins thrown in, you're probably missing out on a lot of potential sales. Yes, you can just get an old school stand-alone credit card machine and try to keep track of a million sheets of receipt paper (“Merchant's Copy!”) like they did back in the days when people need to swipe their little magnetic strips—but things are a lot different now, and in the complicated society that we live in, you're going to want a point of sale (POS) system to keep track of sales—both cash and electronic—and to give you some idea of what kind of inventory you used up. The more volume you expect to sell, the more urgent it is to have a POS.

Now, maybe all of the dirty specifics are what have you procrastinating and leaving that old school “cash only” sign outside your window. Maybe you're just confused. Maybe you don't know which POS to choose for your business. Luckily for you, we're about to clarify things a little; let's take a look at the best POS systems, what they can do, and whether they might work for your business:

1) Square: This is the most bare-bones, simple solution if you're looking for the function of a POS without having to learn a complicated interface or pay a huge monthly fee. In fact, Square does not charge a monthly fee at all, and instead takes a small percentage of your revenue. It requires minimal hardware as well, and all you need is a small peripheral that you attach to your smart phone, and from there you can use the Square app to take people's credit card payments. This simplicity and low upfront cost is probably why Square is so popular with people who sell food out of trucks or carts. It requires hardly any capital at all to get started.

Though it is an excellent payment processor that is very inexpensive for those who are just starting, keep in mind that it is extremely basic on the POS side of things. It will calculate tax and other factors, keep track of sales, and offer a few nice stats to look at here and there, it is not as extensive as other systems. If you want something more complex and feature-rich, you may want to look elsewhere.

2) Revel: If you're looking for something that offers better analytics and that can be used to track your inventory as well, you might want to look into Revel. Built specifically with the restaurant business in mind, it won't cost you too much to set it up for a single terminal, and it has a lot of features that other POS systems don't have. For example, it integrates with social media and can be set up to notify your followers of where you are so that they can come find you. In addition, it's a very flexible kind of software that doesn't require any sort of proprietary equipment to use; most kinds of cash registers will do just fine. It may not be the cheapest POS system around, but it is a very high quality choice with a lot of extras.

3) ShopKeep: If you're looking for value, ShopKeep has it. It's not as cheap as Square, but for the amount of functionality it offers as a fully-functioning POS, you can't really find anything on the market that will beat it. It has everything: The ability to modify tax rates depending on where you are, the ability to print and edit receipts, the ability to create gift cards, among many other features. You can also use it to track your inventory, as you can with Revel, and much of your information is stored on the company's own servers, so you don't need to be tied to a specific machine to view your stats. They're a bit more picky about hardware than Revel, but luckily it can easily integrate with iOS, so that may not actually end up being a problem for you.

Another nice feature of ShopKeep is that it doesn't require you to be constantly connected to the Internet, which is great during those times when you're either far away from WiFi or when your 4G Internet cuts out. Once you are connected again, it simply syncs as you would expect.

Now that you have a basic understanding of three of the most popular POS systems for food trucks, hopefully you can move forward and make an informed decision about what sort of set up is right for you. Sometimes it's best to start small and work your way into a more complex system, but of course this depends on what your goals are as well. Good luck!

High Risk Merchant Services for Agents and ISO's
Friday, May 22 2020

Imagine someone who is running a business in a field that many consider to be “dubious” or risky, such as tobacco sales, debt collection, adult entertainment, gambling, or even travel and time shares. They may seem like everyday staples of a free market, but many payment processors won't touch these kinds of merchants with a ten-foot poll. They are known as “high risk.” A business like this might find that it is unusually hard to get a merchant account, but they still need to be able to take people's money and perform cashless transactions just like anybody else. Where do they turn when no one seems to want to work with them?

This is where you come in. One strategy that you can take as a merchant services sales agent is to find a partner that allows you to cater to these high risk groups that might have a hard time attaining processing services for reasonable rates. You can even focus on this niche exclusively and strike some very lucrative deals because these higher risk businesses are usually willing to pay more. Many times, businesses like these may also have a high sales volume, which can make you a lot of money in residuals over time, even if you might have to take a smaller cut.

Before we take a look at the benefits, though, let's define what a “high risk” business is, and why a credit card company might consider them to be a risky prospect. In this context, a high risk business often falls into one of these categories:

- The business deals in goods of high price, where each individual transaction is hundreds or thousands of dollars. Some businesses just sell expensive items, and the added risk of charge-back means that credit card companies are less excited to work with them.

- The business sells goods or services to customers in certain high-risk countries. Sure, not everyone in these countries is a scammer, but if a particular territory is known to breed fraudsters, then companies aren't going to be keen on working with them.

- The business uses dubious sales practices, such as employing high-pressure sales tactics to sell people things that they don't really need or want; e.g. time shares, travel packages. There is a huge problem here with charge-backs if your customers are likely to have buyer's remorse.

- The business deals in what some consider morally questionable goods and services. Again, as with businesses in certain physical territories, credit card companies like to avoid businesses that reside in certain moral territories. You might find that gambling businesses, strip bars, or cigar shops fall into these categories—basically, anything that deals in the vices.

- The business performs transactions where the physical card isn't present. Basically, this takes a lot of ecommerce businesses out of the running for low-risk accounts. A lot of credit card fraud can take place online, and of course the charge-backs that result from fraudulent transactions can be costly.

Now you might realize that it all really comes down to charge-backs. If the processor believes that there's a non-trivial chance that the activities of the business will result in a lot of charge-backs, or that the merchant may not fulfill their responsibility to pay for the charge-backs, then it may be considered high risk. Many processors will not deal with high risk merchant accounts at all, and in fact merchants in high risk businesses may have to work with specialized processors, and they may even have to set up their merchant accounts with over-seas companies.

There is certainly a hungry niche here, and you might do well to serve it. Many businesses have a hard time securing a merchant account, and you can make things a little easier for them by providing high risk merchant accounts. Here are some of the benefits of dealing in this sector:

- Less competition. Other merchant services companies or merchant services sales agents may be (understandably) hesitant to work with these companies, so you might be able to pick up the slack. Yes, these accounts are riskier, but sometimes the risk can be worth the reward. Merchant service providers can mitigate some of that risk as well by raising their transaction costs or requiring a deposit.

- Online sales are booming. People are buying goods online more than ever, and that means that someone is going to have to provide all of these online retail businesses with merchant accounts. Why not get into a niche that is explosively growing? You will never be in want of merchants to turn into your customers.

- Many high risk businesses are also very lucrative. If your clients are making a lot of sales, then you are getting a piece of that pie. This is especially true for businesses that sell people what are considered vices. As much as society may look down on these businesses, they also love to buy from them.

- You can cater to all business types with few limits. If you only sell merchant services to low-risk businesses, then you cut out many potential niches that you could work in. By specifically offering high risk merchant accounts, you open yourself up to just about any business that you want to work with. Never turn away another merchant simply because they don't fit the narrow definition of what a low-risk account entails. As with anything in business, of course, there are risks as well as benefits—that's why they call these high risk accounts. As a sales agent, you wouldn't be responsible for charge-backs, but you might be faced with making a smaller cut in terms of both residuals and any upfront payments for each merchant account that you sell. This is natural considering that the processor will have to more likely deal with charge-backs, so their fees will be on the expensive side. Still, by finding a partner that will allow you to take high risk merchants, you can add a more diverse variety of merchants to your portfolio, which will make your business more well-rounded.

Download PDF: High Risk Merchant Services for Agents and ISO's 

topics:

high risk merchant account providers, agents, iso, high risk credit card processing agent program, high risk merchant services agent program, high risk merchant services ISO

Shaw Merchant Group's ISO Registration Program - Become an ISO
Monday, May 18 2020

Are you interested in becoming an merchant services ISO? Simply attain a minimum amount of sales for three months and we will help you out by sponsoring you and saving you the ten thousands dollars in upfront costs. We'll take care of what you need by giving you a merchant statement, a free terminal program to pass on to your clients, customer support, and all the software that you need to overlook your back-end. Allow us to help you get on track to becoming a full ISO! If you sign up for our program, you will have access to many benefits, including:

  • Your own merchant statements with your label
  • Less liability than if you started on your own
  • Support from us on the back-end
  • Software that is branded with your company name
  • Tech support for your customers
  • Replacements for malfunctioning equipment
  • Short-term loans / cash advances
  • Services to help you make sense of your statements
  • Training material for your agents
  • Reimbursement for health insurance of your agents
  • The ability to keep track of leads online
  • Internet marketing opportunities
  • The ability to process loyalty cards, cheques, and gift cards
  • The ability to service high risk clients
  • The ability to service convenience stores and gas stations
  • Access to many different platforms
  • The ability to sell or borrow against your portfolio
  • Depending on qualifications, the ability to borrow capital
  • We will take care of registration costs

Download PDF: Shaw Merchant Group's ISO Registration Program

POS Systems for Pizza Shops
Sunday, May 17 2020

If you're running a pizzeria, you have some unique needs that few other businesses have. For one, it's generally assumed that you offer deliveries, and another added complications is that your product is highly customizable, so you probably need a lot of diverse inventory to satisfy the demands of your customers. If your pizza shop is relatively new, you might be tempted to go with a cheap, bare-bones POS, or even an old-school cash register with a stand-alone credit card machine, if you don't mind stapling receipts all day and dealing with a mountain of paperwork when the time comes to work on your books.

Maybe you'd rather have a more modern, 21st-century set-up, but you still want to go the cheap route, so you might go with one of the popular minimalistic, not-quite-POS systems such as Square, but the fact of the matter is that if you are running a serious business with a serious potential for growth, you want a real POS that offers everything you will need. The integration of sales data, inventory data, employee hours, and many other analytics is itself hugely efficient and will save you a lot of time and money. Growing businesses can become of paperwork nightmare if one doesn't have a handle on these organizational issues from the beginning, and one of the best ways to stay organized is to have a POS that handles all of your data.

There are lots of POS systems that you can look at out there, but the best by far for a pizza shop that is experiencing growth or that just needs an upgrade is the Harbortouch Elite. There are many benefits to this POS over solutions like Square or even other POSes that cater to roughly the same market. Here is a quick overview of some of these time-saving, money-saving features:

It Fits Your Business

One of the great things about the all-in-one POS system is its customizable interface. You can switch around the elements of the GUI to your heart's content, and all of the icons on its responsive touch interface can be exactly as you need it to be. You can even remove elements for a less busy, less confusing home screen if you find the need.

Best of all, the all-in-one POS system's software can come with various customizations right from the get-go. For example, there is a package specifically for delivery-centric restaurants such as pizza places. Send North American Bancard your menu, and they will customize the POS interface for you, so that you can get back to making pizzas instead of fiddling with your new technology. It is an extremely intuitive device, and NAB makes every effort to help it fit you and your business as seamlessly as possible.

Delivery Support

One of the complications of owning a delivery-based business is having to deal with managing the time and the tasks of your various drivers, as well as keeping track of where they are and where they need to go for their next delivery. The all-in-one POS system can be customized for quick service and delivery businesses like your pizza shop, and this package comes with a host of tools to help you deliver more efficiently, such as:

Mapping – The system comes with an integrated map system for honing in on where your deliveries need to go. The directions can also be printed easily, and in fact you can print them out right on the receipt paper for your drivers to use. This feature also supports multiple stops in a single trip. It's never been more convenient to find where you need to go.

Managing Your Drivers – Give orders to each driver from your dashboard, and keep track of the status of each delivery right from your POS.

Caller ID – Why should your own customers be a mystery to you? Get a handle on who is on the other end of the line with integrated caller ID, which will allow you to keep better track of who is calling your business and placing the orders. When a customer calls, you will be able to automatically view their data and a history of their past orders to give you more context.

The Usual Restaurant Favorites

In addition to these specialized features just for quick service restaurants like pizzerias, the all-in-one POS system offers the kind of features that you would expect for other kinds of restaurant businesses. Some of these functions include:

Bar Tabs – If you happen to sell alcohol at your location, the all-in-one POS system makes it much easier to keep a running tab for your customers. People who run tabs usually spend more, so this is definitely a handy feature.

Edit Your Menu – You want to be able to change your menu at the drop of a hat, without having to learn any fancy technical skills. Thankfully, with the Elite's intuitive interface, you can change your menu whenever you want with very little hassle.

Give Discounts – Some of the best promotional strategies include giving your customers coupons and discounts, so you're going to want a POS that can handle this side of things as well. The all-in-one POS system can apply coupons and various other kinds of discounts instantly.

Keep Track of Customers – Analytics about your customers is just as important as analytics concerning the workings of your business. Keep a database on all of your guests, and this will not only help you to identify wider sales trends, but it will allow you to give personalized service, as you can keep track of people's order history and their contact information.

As you can see, the all-in-one POS system is a very feature-rich POS, with lots of support and a surprising amount of customizability. One of the best features, however, is its affordability. You can have fast hardware and great service of a superior level for a low monthly fee and few upfront costs; it pays for itself quite quickly in terms of saved time and money. It really is the perfect POS for a growing pizza shop that is looking to get as organized and efficient as possible.

Point of Sale Systems for Bicycle Shops
Saturday, May 16 2020

If you run a bicycle shop, you need a versatile and light-weight POS that is as efficient as the man-powered vehicles that you sell. You are going to need to keep track of your inventory, including dozens of parts if you deal in repairs; you're going to need to keep track of sales; and you're going to want to stay ahead of the curve and get a birds-eye-view of all of the processes of your business as well. One way to handle all of these complex details and have all of the analytics that you need right at your fingertips is to employ a simple, high-performance POS like the all-in-one POS system. This is one of the most advanced point of sale systems that you can get for the money, and it is fast, efficient, and high-end both in the realm of software and in the realm of hardware. Let's take a closer look at the different ways that this set-up can benefit your bicycle shop: 

Cash and Cashless

Need something completely integrated and easy-to-use that can handle all sorts of transactions? The all-in-one POS system can deal in cash, as well as debit cards, credit cards, and even checks—and it can do it all in one integrated system. Even if you are a relatively small operation still, there's no need to disappoint your customers by not being able to handle the kind of transaction they need when you can simply use a POS such as the all-in-one POS system .

Analytics and Reporting 

One of the best things about any our POS systems, but especially the all-in-one POS system is how it simplifies and organizes all of the intricate data of your business into very easy-to-read reports. You can access these reports from anywhere, since they are stored locally on your resident machine, as well as on the cloud. Work remotely and keep a handle on the processes of your business even when there is physical distance between you and your employees, and you'll be able to catch and analyze any potential issues before they become problems. You can also keep an eye on sales trends and other data that might help you to make your bike shop more efficient.

Having these sorts of features can save you a fortune on bookkeeping; whenever you need a certain set of data, it's as easy as simply printing it out from the database. Don't worry if your Internet is down, either; thanks to the all-in-one POS system large storage capabilities, you have plenty of room for local files and they will be easily accessible even in the event of an Internet outage.

Customizable

You can customize the software's interface and other features to suit the needs of your particular business. This is a huge advantage, especially when you are running a specialty shop like a bike store. Rather than go with a one-size-fits-all POS, you can build your point of sale system around you and your employees, and this will save you a lot of time.

Track Employees

Time Keeping your employees clock-ins organized is a task in and of itself, and the all-in-one POS system this beautifully. It's important to keep an accurate—and ideally digital—record of when your employees work in order to keep your payroll costs from being unnecessarily exorbitant. In addition, the system keeps the cost of record-keeping itself rather low.

Fast Hardware

The all-in-one POS system has top-of-the-line hardware for a POS, especially for the cost, which makes it a great value. Don't sit there waiting for your system to respond to all of your frustrated button-mashing; get an all-in-one POS system and you'll have some speedy hardware and ultra-responsive software. Your customers will appreciate the quick checkout process, just as you'll appreciate the efficiency. Another nice thing about the all-in-one POS system's form factor is that it is essentially an all-in-one machine, so it takes up very little space. You don't have to make room for a clunky desktop tower or any of those other archaic pieces of hardware, so you can save quite a lot of counter space. It has a very sleek look that would fit in great at any modern, urban bicycle shop.

Interface

One of the great features of the all-in-one POS system is its intuitive touch interface. If you know how to use a tablet computer, then chances are you'll have no problem working with this POS. As mentioned before, this interface is customizable, so no matter what kind of business you have or what stage of growth you're in, you can make this POS match your needs perfectly. In addition, as you business grows larger, you can change the interface to suit your needs, so you won't have to worry dealing with a POS that no longer accommodates you.

Support

You are too busy trying to get people back on the road (or sidewalk, or bike lane, or nature trail) to deal with technical difficulties when it comes to your POS, so the last thing you want to do is to have to tinker with your system when there's a problem. Though the all-in-one POS system is quite robust, chaos exists in the universe, and there are always going to be the occasional hiccups; it's just unrealistic to not expect this to some extent. During those kinds of moments, you don't want a company that's going to leave you to your own doom. You have stuff to do, and you need to get going again immediately, so North American Bancard offers 24/7 support for their all-in-one POS system, as well as for their other systems.

While getting set up and keeping things running is usually intuitive enough to not require any intervention on their part, it's nice to know that they're there if you ever need them.

You opened your bike shop to help get your customers moving; a all-in-one POS system will help get your business moving faster, more efficiently, and with the kind of reporting and analytics that you need. If you want a POS that has everything—and includes all of the support you will ever want—give the all-in-one POS system a try.

Pawn Shop POS System | Point of Sale Systems for Pawn Shops
Saturday, May 16 2020

Running a pawn shop can present many challenges, since, unlike most retail stores, you need to plan and organize not only some kind of process for selling, but also for buying items from clients. In addition, depending on where you live, there can be a certain amount of extra bureaucracy associated with running a pawn shop that you may not find in other kinds of storefronts. For example, you may need to take records of the people who sell you items and keep identification information on them just in case the items they were selling you had some kind of shady past.

On top of this, you're also going to have to keep records on your inventory, and again this will work a bit differently from most retail stores, because rather than having a fairly predictable flow of items, you will have to work to tag and categorize random items of value as they come in. One could say that this is the fun in having a pawn shop—you never know what will come through your doors—but it can certainly present some record-keeping challenges.

Of course, as with just about anything nowadays, this doesn't have to be too much of a problem because there's technology that will help you out. If you're running a pawn shop, it's critical to have the right POS system that will help to organize your inventory, keep track of your sales, help organize your records, and of course take your customer's money. If you're still unsure about what brand of POS you should go for, take a look at some of these options below:

1) SimpleConsign - One thing that you can do is seek out POS systems that specific cater to consignment-centric businesses. That's why SimpleConsign can work very well—it allows you to not only sell items, but to list them for consignment, as well as buy them from your customer outright. Like most POS systems, it can also of course handle credit card processing, returns, and the application of discounts if the need arises. You can also put items in layaway using this system, if you wish to provide that functionality to your customers.

Probably one of the most interesting functions that you may not find in other POS setups is the customer-side consignment feature. Basically, if a customer is selling something via consignment through your store, he can go on the Internet and look up the status of the item and how much you owe him.

This POS can be had for a fairly inexpensive monthly fee, and there's even a free trail available so that you can give it a try for 15 to see if it's for you.

2) PawnMaster - This POS system by Data Age is exactly what it sounds like. It's software solution to all of your pawn shop's needs and it was created specifically with this kind of business in mind. It is Windows-based and thus can run on x86 machines with the right specs, and this may or may not be appealing to you, but one of its main draws is that it is so scalable. As your business grows, you can add different software modules when needed, for example a layaway function or the ability to manage several stores.

Currently, they offer PawnMaster Classic as their main solution, which is not cloud-based; but if you're looking for the convenience and data-security of a cloud-based system, they are set to launch PawnMaster Ignite in the near future, which uses Amazon Web Services to provide flexibility and other features.

This is one of the most popular software packages for pawn shop owners, and regardless of what solution you choose from them, they offer exactly what you need to start your shop: inventory management, a way to take your customer's money, a way to buy from your customer, consignment functionality, a quick price guide that you can look up, employee management software like a time clock, integrated jewelry scales, and many other features.

3) Bravo Pawn Systems - Do you want cloud-based software so that you don't have to deal with the IT costs of having complex POS software and hardware that you have to service yourself? Bravo Pawn Systems is a new generation of POS built specifically to make things simple and easy in this regard. Whether you have a small, medium, or large pawn broker business, they have a solution that will work for you. Since all of your data is store securely in their servers, you don't have to worry about losing your records, either.

In addition, it includes many features that help you to organize and run your business. It will allow you to closely manage your employees and will also help you to keep them accountable by keeping track of when transactions occurred and who performed them. As you might expect, it also allows you to take your customers credit cards, issue refunds, and keep track of your sales numbers using a simple reporting mechanism. You can also keep digital files on your customers' histories so that you can better serve them in the future. On their end, they can sign in to view the status of their loans with you online, which will save both of you a lot of time.

Where it really shines is on the inventory end of things. You can use the software to create bar-codes to organize your items, mark down prices, and even transfer items between your stores if you have more than one. This really is a full-featured pawn shop solution.

As you might realize, you have a lot of options when it comes to POS software for your store. When you're looking for which POS is right for you, be sure to consider your priorities. For example, larger stores may need solutions that are superior at handling inventory concerns in order to keep things organized. Try to think about your future needs as well, even if you are still small, since switching over to a different system can certainly be a pain, and it's good to avoid it if you can.

Benefits of Point of Sale Systems for Android
Saturday, May 16 2020

For retail businesses, particularly restaurants, cafes, and diners, the benefits of having a point of sale (POS) system available create a number of benefits that will boost your bottom line. The point of sale systems for Android devices in particular is certainly worth considering for your business needs.

What is an Android POS System?

The system itself is representative of most POS products in that it consists of having the software, hardware, and payment processing services all rolled up into one device. However, this particular system for Android devices does offer advantages for many businesses who want to incorporate a more efficient sales process.

Hardware Requirements: The good news here is that you can choose from a number of different brands and models that all use the Android operating system. This means that you can start with a single smartphone or tablet and work your way up to a multiple user, multiple location system that is perfect for large retail businesses and restaurants. You can take advantage of recommended accessories such as card readers, payment terminals, barcode scanners, menu displays and more that can come from the same company or from third party sources that offer compatible products. There are even POS companies that offer entire systems that you can use which have advantages as well as disadvantages, but may be well suited for your particular needs.

Software: The heart of the system, the POS software creates the invoices, inventory, sales reports, and manages all of the customer data so you can see all the important aspects of selling. It is important to remember that most POS software still requires a processor for credit or debit card payments. From which products, services, or menu items are the most popular overall, when they sell the most, and what they are purchased with, you can better understand how your business is making a profit and what you can do to increase your earnings.

Processing Credit Cards: It seems that practically everyone enjoys the convenience of using a credit or debit card to make payments. The point of sales system for Android does require a card reader either directly attached or from a separate terminal that is connected in order to work. It should be noted that you will need an EMV chip card reader to protect your business or restaurant from being hit with charges that are fraudulent as well as being liable. The good news is that most, if not all new card readers that are being sold have the EMV chip already installed.

It should be noted that as part of the POS system, you will be paying rates that are dependent on the credit card chosen. Some such as PayPal for example offer a flat rate which may be a little higher than some competitors, but is generally simple to use, predictable, and has very high rates of approval which means less fuss for your business. Other processors may offer lower rates, but have hidden fees or charges that push up the costs. You will want to read all about the different rates and understand how they apply to your particular situation.

Advantages of Android POS System

For many businesses and in particular restaurants, the point of sale system for Android offers considerable benefits for your efforts

Versatility: The POS system does more than simply process sales as it supports the important aspects of how your business operates on a daily basis. For restaurants, a POS system that is down can make it very difficult to properly serve guests and build profits. The POS needs to be simple, easy to use, and highly reliable which is why Android systems offer a distinct advantage over iOS or Apple systems. Because Android systems are found on mobile devices from many different manufacturers, you can choose the one that emphasizes reliability to make breakdowns few and far between.

In addition, you can fine an Android mobile device that is customizable to your specific needs. Instead of having to use Apple-only products such as the iPad or iPhone, you can instead choose from a number of different manufacturers and select the device that is best suited for you want you want it to do. In essence, a restaurant that emphasizes fast service may only want a couple of POS terminals with the wait staff has handheld tablets. This is easy to do with Android devices, but more difficult with iOS or Apple devices.

Cheaper Hardware: It’s no secret that Android devices are by and large considerably less expensive than Apple devices. You should also be aware of so-called self-contained POS systems that use older, out of date hardware through exclusive devices. You can choose which Android device you want to use which means that you can take advantage of sales or special discounts that are available.

This also makes replacement costs considerably less expensive as well since Android devices are on average costs less than iPad or Apple hardware. So, if the device is lost, stolen, or damaged beyond repair the replacement cost will be less than if it were an Apple device.

In fact, you may already own the smartphones or tablets that make installing the point of sale system for Android devices even simpler. There are even some services offered on Android devices that may be compatible with the POS technology such as card readers, bar code scanners, tablet stands, customer displays, scales, and so forth.

In the end, the benefits of using point of sale systems for Android are considerable and certainly worth the investment, particularly for restaurants and eating establishments where having the customer pay the bill on the spot is good for your business. The Android system in particular is one that offers advantages above and beyond what other major systems provide. Thanks to the versatility and popularity of devices that use the Android operating system, you can have a great deal of choice in selecting the specific devices used to help conduct your sales.

Looking for a Point of Sale System for Your Coffee Shop?
Thursday, May 14 2020

Have you just opened your new coffee shop or café business and the customers are already pouring through the doors every morning? Congratulations! You know what you need now? A decent point of sale (POS) system to go with that cash box. You may love being a traditional little café and you might even think you're too small to need any kind of fancy equipment, but as you grow you're going to be glad to have a POS. Point of sale systems can not only help you keep track of how much you made, give you helpful stats on how your sales are doing, and help facilitate credit card transactions, but they can also keep track of your inventory so that you know what kind of supplies you will need next time you go to pick up your raw ingredients. The great thing about a POS is that it will help you stay organized, and you will never have to worry about where you left your scattered pile of receipts because you can always just print a new one.

Since the last thing you want is a POS that is too complicated or that won't fit your needs, let's take a look at one of the best point of sale systems that you can use precisely for a small, brick-and-mortar business like yours:

PayAnywhere POS System

What's so great about the PayAnywhere POS System? Well, just about everything, but there are some main features that make it perfect for a business that's just getting started or that needs to finally get organized:

- Easy to Use: Not a computer wiz? Why would you need to be? You're in the café business after all! If tech support is something you simply don't want to deal with (or pay an arm and a leg for), then this is the kind of POS you want at your restaurant. It is extremely easy to set up and includes a wizard that will do all of the heavy lifting and help you to get started. Updating can also be a hassle with most modern operating systems, but you won't have to worry about that with the PayAnywhere POS System. It takes care of the updates automatically so you don't have to fiddle with anything to get the latest security features installed.

- Customizable: Your business is unique, so the interface on your point of sale system should be, too. Luckily, the software that runs on these machines is very modular and you can add or remove elements from the screen easily at your leisure. This means that if you have a very simple menu, you don't have to suffer from an overly-busy screen if you don't want to. It also means that you can use trial and error to determine what kind of interface is most efficient for you and your employees.

- Advanced Technology: You want the most advanced software for your store, and thats exactly what this POS is running. The system is cloud-based, so you'll have the convenience of being able to keep an eye on sales and other figures whether you're at your coffee house location or need to step out to address your latest emergency. If you lose Internet access for any reason, though, don't worry: this system is still capable of storing information locally, and it will sync with the cloud as soon as you're re-connected, so you'll have the best of both worlds. This POS is also capable of taking several different payment methods, including cash, credit card, and Apple Pay, so you'll never have to lose a sale simply due to an inability to take your customer's money.

- Great Hardware Overall: This is a very modern, very sleek and well-designed POS system that you'll be proud to have sitting on your counter-top. Unlike the old, bulky registers of yore, this system is thin and easily portable, and uses and extremely intuitive touch interface. The screen even twists around to face your customer so that they can sign off during a credit transaction, and it's just as easy to read and comprehend for them as it is for your employees as it mirrors the mobile interfaces that most of your customers will already be used to. The screen is just about the size of a large tablet at over 13”, so it's certainly big enough to to comfortably use, but not so big that it takes over your counter space. Don't worry about keeping your customers waiting, either, since this system is really fast. It uses a flash storage system rather than the old style of hard drive, so all of your orders can be taken and stored quickly.

- Great Support: As mentioned, the interface is extremely easy to use, but as with any kind of technology things can certainly go wrong. If you find that you need tech support, the company will provide it 24-hours a day, 7 days a week, so you never have to worry about being caught in a tight spot because they are always there to help. Another nice aspect of their support is that if your equipment ever actually physically breaks, they will replace it for you for free.

- Low Cost: North AMerican Bancard offers a few different solutions, but the PayAnywhere POS System is the best value. It's one of their cheapest, costing only a small monthly fee (currently less than 40 dollars) to serve a small company with a few employees. Best of all, there is no upfront cost. For just a bit of pocket change practically, you can be up and running immediately, using some of the most advanced POS technology. There are many costs to not organizing your business properly, and considering how much this POS could save you in terms of time and labor, it will pay for itself many times over. So if you're looking for a POS that can serve you and your customers at your coffee shop, the PayAnywhere POS System is certainly one of the simplest, easiest, and cheapest options out there.

What are the best POS Systems for iPad?
Tuesday, May 05 2020

If you're just starting your own business and need to keep costs down, you may be discouraged by the overhead that buying and setting up a point of sale system can represent. Not only do you have to buy the necessary hardware, but you'll have to train your employees on how to use whatever proprietary interface the system uses. This can cause a lot of headaches and cost a lot of money that you might not have to invest, especially when you're a small business on a shoestring budget.

Wouldn't it be great if, instead of all that complexity and cost, you could just use hardware that you likely already have, such as a tablet, and simply pay a small fee to run POS software on it? Wouldn't it be even better if all the peripherals that you needed to take credit card payments and such snapped easily onto this existing hardware and didn't require any complicated installation? Even better, what if you didn't have to spend time training your employees to do much more than simply learn how to use a new app on an interface that they already know and love?

Well, these aren't the mad ramblings of a business owner who wishes life worked this way; life actually can work this way! There are quite a few offerings on that market that can turn your beloved iPad into a fully-functional POS that will allow you to take your customers' cashless payments and keep track of sales for a fraction of the cost of more complex POS systems. Why make everything complicated when you can just improvise with what you have and save money?

Now, you may be wondering: What are these magical POS systems that you can install right on your iPad? Let's take a look at some of the best in the market, so that you can continue your search with a fully-informed opinion:

Square

You may hear about this tiny POS a lot, but that's because it's incredibly useful and requires no upfront fee. It works with all kinds of tablets and phones, both those running Android and those running iOS, so it will definitely work well with your iPad. The hardware is minimal, and amounts to the eponymous square magstripe reader that you insert into your device's headphone jack. You actually don't need anything more than that, and Square will send you the reader for free when you sign up; but if you want to get extra fancy, you can buy a stand to make your iPad look more like the familiar counter-top kiosk that customers might be used to.

Now, unlike a lot of POS systems, square requires no monthly fee and they take a percentage of your revenue instead. This can be both a good point and a bad point, depending on your volume of sales and on your profit margins per sale. As your sales increase, you may want to save money by getting a POS that just charges a monthly fee.

Revel

Maybe you don't currently have ten iPads just lying around for your employees to use, or maybe you're just looking for a more all-in-one solution. With Revel, you can get a hardware package that includes everything you need to put together an iPad-based POS, including the iPads themselves. Enjoy the familiar interface, but with a stand, a cash box, an integrated payment device and other hardware to make your experience much easier. The system even comes with a coin dispenser to help minimize errors in counting change that can cost you money.

Revel is ideal for many kinds of small businesses, but particularly for quick service restaurants and coffee houses. If you have a bar or a retail store, Revel also has options for you that can fit your particular needs.

iConnect

With a name like that, you can assume that this POS was built from the ground up to be integrated with the iPad, and indeed it is designed to work with a range of iOS devices, to process your payments and keep track of your business's sales and inventory. It is a complete POS solution that you can take on the go. You can access your stats anywhere as well as store all of this information locally on your iPad.

iConnect also sells a number of their own, more complex proprietary POS hardware and software, and they also have solutions for those who prefer Android's interface. You can use their software for a relatively low monthly fee.

ShopKeep

ShopKeep is a popular POS, and they offer iOS-based solutions. They sell hardware that works seamlessly with the iPad and their software is very feature-rich. Track not only sales, but expenses, inventory, and other data, and view it all in real time. You can also easily manage your newsletter and other email marketing strategies through their integration with Mailchimp, and accounting is a lot easier with their Quickbooks integration as well. They also have a great support team that is available every day, 24-hours a day; they will hold your hand throughout the entire set up process.

All of this is available for an inexpensive monthly fee, making this one of the best options for an iPad POS available.

So if you are looking for a POS for your new business, but find that all of your options are too complex, or else they don't reflect the kind of clean, simple interface that you're looking for, don't fret—there are lots of great iPad-based POS options out there. This allows you to have the intuitive and famously easy interface of Apple's iOS devices with the functionality of a superior POS system, and often the support of a third party that is dedicated to your success as a business. Many times, this won't even cost you more than 70 dollars per month. As you can see, going for this simplified model over a more complex, proprietary POS can be ideal as well as cost-effective, and, especially if you're just starting out, you should check out some of these options.

The Smart Credit Card Terminal by Poynt
Friday, April 24 2020

Are you a modern company that's looking to get a POS that can grow with you? With modern credit cards getting a makeover and transferring to a chip system over the magnetic strip, you're probably wonder about what kind of future trends could lead to a whole overhaul of the system. POS devices can be expensive, and you want one that will be able to tolerate all of the changes in the industry that may occur within the next few years. Of course, no POS is totally future-proof, but the closest thing to it is the Poynt Credit Card Terminal.

For a little bit of background, Poynt was created by a former Google executive who was responsible for Google Wallet. Before that, he worked at Paypal for 9 years, so there's a lot of payment service experience behind this project. He started the company Poynt in 2013.

Poynt is a little bit different from other POS setups in that there is no monthly fee, no percentage of your sales to pay, and no ongoing payments at all that you have to pay to the company that sells it. All you do is buy their equipment for a one-time fee—a simple terminal—and you can connect it to your merchant service provider of choice. This kind of flexibility is what makes Poynt so promising, even if there is relatively little feedback to be had, since the device just came into the market in 2015 and hasn't had much time yet to prove itself. Their business model, rather than relying on the merchant's transactions or even on profits from hardware sales, will be based on the idea of an app store. Basically, merchants will be able to buy apps that will expand functionality on their terminal. This will make upgrading to better software easier for the merchant as well.

The goal of Poynt is to provide a simple, Android-based alternative to other common POS systems out there that are tied to a specific company. Unlike other companies offering bare-bones solutions to the problem of taking a customers money, there is no need to use a specific payment processor. The idea is that the industry is constantly changing, so it would make no sense to forgo the benefits of being able to use multiple payment processors or switch between them. This is what Poynt hopes will keep their new credit card terminal from meeting obsolescence quite as quickly as other available solutions.

The market seems to be on board with this option, because Poynt managed to presell nearly half a million units of their new device earlier this year. Time will tell whether this will be the “next big thing” in POS technology or not, but many start-up businesses are hopeful.

Now, should you jump on the bandwagon and get a Poynt credit card terminal for your business? This of course depends on your needs, as you may find that your business is too specialized. However, if you simply need a machine that will take your money, it might just be the perfect choice for you. Here are a few of the major benefits of Poynt over its competitors, such as Square, ShopKeep, and others:

No Monthly: Fee Poynt's model relies on your paying to add features, so it doesn't charge you a monthly fee. If you do pay fees, they are from your payment processor, but Poynt will not demand anything from you on a regular basis. You simply buy the equipment and you're ready to get started.

Poynt Won't Cut Into Your Revenue: With simple POS systems like Square, you pay more when you make more sales. It is almost like a tax on your revenue, and this can get expensive quick if you have a huge volume. With Poynt, this isn't an issue because they don't take a cut of your sales at all. This can greatly reduce your expenses and help you save money, especially if you've only just reached your first growth spurt and you need to re-invest as much as you can.

Poynt Takes Just About Everything: This credit card terminal will take a number of different payment processors. Everything from the usual credit cards and debit cards, to Apple Pay, to cash, and many other things in between. It is a dynamic system that can be modified through buying functionality, and it is sure to be able to grow with you and your business as times change.

Even the Upfront Cost is Negligible: A terminal from Poynt is less than 300 dollars. This is a lot less costly than many current offerings, so even if you are a startup and don't have a lot of cash to spare, chances are you can use this system. With all of the savings and such a low price for the terminal, it really is a no-brainer solution. A system like Square may still be a bit more simplistic, but the up-and-coming Poynt is probably now the best value that you can possibly get.

There's no really a cost-associated reason to not give it a try unless you are an incredibly lean startup, however, there is at least one reason that Poynt may not be for you: Let's say that you need very specific functionality, such as for a pawn shop or a consignment shop, that keeps track of your inventory in a specific way. In that case, you'll probably want to hold off until this system has proven itself to work well in your particular context. Luckily, Poynt will make use of apps to expand functionality.

It is not yet clear what kind of impact that Poynt will make on the market, but for now it is clearly a promising alternative. As it gets more difficult to make a profit with all the middle men trying to make a cut, hopefully this new efficient system will offer a solution for merchants. Eventually, cashless transactions may become similar to cash in overhead costs, and this innovative POS is certainly a step in the right direction.

Best Nail Salon Point of Sale Systems
Friday, April 24 2020

There's nothing that makes a woman feel more beautiful than having her nails done at a salon. If you're in the business of providing manicures and pedicures for eager customers, then congratulations, because nail salons are often very profitable endeavors. Perhaps you are working as a nail technician for someone else and you are looking into starting your own shop, or maybe you already run your own business and are wanting to get organized. Regardless, if you are running a nail salon, an invaluable tool for getting things done efficiently is having a POS system that matches you well.

You may feel inclined to do things primitively with just an old cash register and a credit card, since your business is mostly service-based and may not include the amount of inventory that you might find in, say, a grocery store. However, every business is the same in that staying organized and having a way to get a bird's eye view of your effectiveness is invaluable. A proper POS will allow you to keep all your records digitally, analyze data such as sales and inventory, and of course take your customer's money in an integrated and hassle-free way.

Lots of people assume that POS systems with these kinds of capabilities have to be complicated or expensive, but they really don't. Let's take a look at a few options that you might try for your nail salon, to help you get a better perspective of the costs and functionality of a few popular systems:

Square

You may have heard of square before, and indeed it is a great, if simplistic POS-esque solution. They provide a way to take your customer's money and also provide great analytics, and they have no monthly fee, which makes the popular with many small startups who don't have any money to invest in either higher-end hardware or in a monthly service fee.

Though you may associate them with businesses like food trucks, Square has some salon-specific and beauty shop-specific solutions that might work well for your niche. However, there are a few downsides: Since they take a percentage of every transaction as their fee, this may not be ideal if you have higher sales volume; it may make more sense to find a POS with a simple monthly fee. Also, Square tends to rely on hardware that you already have such as your tablet or phone, so if you want a simple, all-in-one solution, then Square is probably not it.

Vagaro

This salon- and spa-centric POS system offers all kinds of features that you may find useful for your nail business. In a lot of ways, it is more than just a POS: It allows you to track your customers' purchases and keep a dossier on their personal history with your salon, provides analytics, and handles online booking and confirmation. If you want to start a newsletter for email marketing purposes—which is an invaluable technique for keeping long-term customers and sending them promotions—it can also help you with that. You can buy different kinds of hardware packages from them for your point of sale system as well, and while they are not expensive, they do require an upfront cost. If you're looking for something that doesn't require this upfront investment, you might want to go with another company.

Harbortouch

Currently, there is no salon-specific software from this company (though it is in the works and the company is growing), but Harbortouch certainly makes up for it in affordability. For very little or no upfront cost, you can have all the hardware and software you need to get a great quality POS set up in your shop, and the monthly fees associated with the service are rather low. A few of its major benefits include customizability, a wealth of analytics, and the fact that all of your reporting is not only available locally on your machine, but is also stored on the cloud, so that you can review your stats remotely and you never have to worry about losing your information should your hardware fail.

There are two main POS systems from this company to choose from, and they are the Harbortouch Echo and the Harbortouch Elite. The Echo is a great choice if you are just starting out and don't have too many employees; it's also the more immediately affordable of the two. Even though it's available for a surprisingly inexpensive monthly fee, they certainly did not skimp on features: It has an intuitive touch screen design whose home screen elements can be customized to your taste. Its interface is very easy to learn and training is included with the package. It includes great reporting and organizational tools, and you can access all of these remotely.

The Elite is a bit of a different animal, even though it includes all of the features of the Echo and more. With the Elite, you can further customize your software to make it even more specific to your business, and the hardware is extremely powerful. If you want a POS with a fast processor, and plenty of storage capacity, as well as the ability to control your own user interface experience down to the little details, this is a good choice. It's not even that expensive, so it's definitely worth considering if your business has grown past its initial stages.

As you can see, there is lots of choice in the world of POS systems for nail salons, and these certainly aren't your only options. In a lot of ways, it's not about trying to find the system that is “best,” but trying to find the one that works well with your situation. Whether you want to go with something incredibly simple like Square or you want to get a POS with the capacity to handle just about everything like the Harbortouch Elite, it's a good idea to look into getting some kind of system to handle your sales. Even just the convenience and cost-savings of having digital records stored from the beginning can save you a lot of headaches during tax season.

Best POS Systems for Gun Shops
Friday, April 24 2020

When you're selling guns, there are a lot of variables that you have to keep in mind when setting up your business. There's a potential for more bureaucracy and legal concerns when you're opening up shop, and so it becomes that much more important that you keep your records as organized as possible. In addition, just like any other kind of retail store, you're going to want to give your customers the best experience possible, by making it easy for them to buy using a variety of methods. You're also going to want to give them an easy-to-use interface when it's time to sign the payment screen and go through the usual motions of a purchase. You're going to want a quality POS that can help you run your transactions smoothly, that can keep your records for you, and that can help you get a good idea of your sales trends through some kind of integrated analytics.

On another level, you also have to worry about your bottom line. Way too often, point of sale systems can be prohibitively expensive, whether because they run using expensive proprietary software or because the hardware that they use is specialized and high-cost. Thankfully, lately there has been an emerging generation of good quality, yet efficient POS systems that work well for just about any business and don't cost an arm and a leg to get started. Some of them even provide a slew of extras that you may not have expected. Let's take a look:

1) AimSi - With a software package that is specifically geared towards owners of gun and archery shops, AimSi handles a few different functions besides serving as a basic POS. It will keep track of your inventory, help keep records for ATF compliance, and keep schedules for firearm-related classes that your shop may provide. In addition, it offers ecommerce solutions as well, so that you can have an online store along with a brick-and-mortar setup.

This is a fairly simple option with easy software to learn and plenty of support, but it does have an upfront cost of hundreds of dollars. In the grand scheme of things, that's really not that much, but if you're not ready to pay that kind if money, or you simply want a better deal, then there are certainly other options. The draw here is that there are so many gun shop-specific features to this POS, but you might find that these aren't completely essential for you, especially if you're small and just starting out.

2) Gun StoreMaster - Like the name implies, this is an overall solution for most of your gun store needs. It is much more than a POS, and in fact you could say that its POS features are actually a small part of this software package. Mostly, this software takes on the critical tasks of a gun store; for example, it will help you with the creation of a Bound Book for ATF compliance, and it will also help you create the paperwork that you need if you find that any of your inventory has been stolen. It will enable you to track your inventory as well as help you comply with the law in various ways; this is invaluable when you're a small operation in particular because it can get easy to be overwhelmed by all the bureaucratic requirements.

Now, the POS portion of this software solution is based on QuickBooks. It integrates more or less seamlessly with the other Gun StoreMaster software, and any inventory that you add on the Gun StoreMaster end will automatically apply to the QuickBook's POS inventory list. It's a fairly inexpensive solution and is meant to keep things simple for your business.

3) Revel Revel - is one of the newer POS players, and it's one of those modern POS systems that seeks to be minimalistic and give the customers a completely integrated system, using inexpensive and familiar software, all for a low monthly fee. Though Revel doesn't have software that's specific to a gun store and its unique requirements, it's one of those very basic solutions that is narrow in its functions. This isn't necessarily a bad thing; in fact, it can be a very good thing because it can save you a lot of time on training and potential technical problems.

Revel offers the usual things you would expect from a POS: It will take the customer's money, and it will keep track of sales as well as inventory. If you need to get an idea of your business trends, there are also reports that you can view of sales data, among other things. All of this software runs easily on hardware that you may be quite accustomed to already, like the iPad, and it is very much an example of the modern trend of POS systems. You can choose different specialized software packages to customize your interface and functions to an extent, but—as mentioned before—there is no customization specifically made to accommodate a gun store, so you may find yourself just using a basic retail model.

Regardless, Revel is not a bad choice thanks to its security, which is something critical when you're dealing with a gun store. The support is top-notch as well, and you will always have someone to turn to if things go South on the technical end. You might want to give this POS company a try, especially if you're a smaller business that needs a more simple solution.

Starting any sort of business can be overwhelming, but it's especially difficult when you're dealing with a business like a gun shop, where not only do you have to worry about keeping the customer happy, but you have to worry about complying with a myriad of ever-changing laws. Whether you are only selling firearms, or you are also providing classes on their use, or rentals for your shooting range, you will need a quality POS, so remember to do your research well; the list above is not a bad place to start.

Point of Sale Systems for Hardware Store | POS Systems
Saturday, January 25 2020

If you run a hardware store or are thinking of starting a business in this realm, you know that you're going to have a lot of inventory to deal with. Even fairly small stores need lots of little parts and pieces to be able accommodate the many demands of the various devices that people have installed in their homes. As a retail store, you not only have to keep track of every nut and bolt, but you also have to have a smart way to store and view your sales, so that you can be aware of sales trends and stay on top of things when it comes to your business. The customer end of things is important too, since most retail stores are going to need some sort of convenient way to apply coupons, promos, and sales, and you're also going to want a fast, simple way to take your customer's money and calculate their change.

In other words, no matter how you slice it, you're going to need a quality POS if your store is going to be organized. A good POS will do all of the heavy lifting for you and make it easier for you to keep track of all of the items in your store, which will save you from a huge headache in the long run. Chances are, though, if this is a new venture for you, or if you've simply never used a full-featured POS system before, you may not know what company to go with. Here are a few good POS services that you might consider:

1) Revel - This is a system that works with just about any kind of retail store. One of the huge advantages is that it runs on very simple and inexpensive hardware—the iPad. Not only does this make things less complicated, it also makes it easier for you and your customer to figure out how to use the kiosk in the first place, since it will have a familiar interface and form factor.

The nice thing about this POS is that it provides tons of security features—like different user name and passwords for different employees—as well as extremely helpful analytics that will tell you all about your inventory and sales trends. It's a good starter POS and it's easy to learn how to use and works just fine for all kinds of retail businesses. The only downside is that if you need help with the tech side of things, according to some of their customers, their support team leaves much to be desired.

2) Harbortouch Echo - This is a very simple POS from the folks at Harbortouch, and it is ideal for a smaller business that only has a few employees. Though the software is simplistic, the interface is easy to use and can be customized, and it can also track your sales and inventory just like most other POS systems, as well as provide reporting for you that is viewable both on your native machine and on the cloud.

The hardware isn't particularly high-end, but it's extremely good for the price range, and it's also quite fast, so you'll never have to leave your customers waiting. Their machines are also very good quality and Harbortouch will replace them for free if anything breaks—their support team is always on the ball. They provide training on how to use the POS, but if you have any problems just call them and they will fix your right up.

You can have all of this for a surprisingly low monthly fee, which is a blessing when you don't yet have a lot of resources. If you're just starting out and don't have much capital to work with or much of a need for a more complex point of sale system, this is one of the best choices out there. However, if you need something with some better hardware and more complex software that can handle the demands of a growing business, Harbortouch has a POS system that may be more up your alley:

3) Harbortouch Elite - Just like the Harbortouch Echo, you will have extremely customizable software, an easy-to-navigate interface, a simple way to take cashless credit and debit transactions, and a way to automatically keep digital reports on all of your cash register activity. However, the Harbortouch Elite is much more than this and represents a major upgrade. Honestly, if you are planning to have a business that grows beyond the realm of a little start-up, you are better off sticking with this choice from the beginning.

The Harbortouch Elite features superior, lightening-fast hardware in its POS devices, so performing transactions, bringing up reports, and looking through your customer records will be a breeze. In addition, the customizability of the software goes beyond most other POS systems available in its price range, as it comes with a retail store-specific package that would work great for hardware stores.

Out of all the choices here, the Harbortouch Elite is the one with the most functionality to suit your hardware store. It can not only keep track of your inventory, but you can easily import your existing database of items if you're switching over from another POS. It has nuanced inventory management software that includes a matrix to keep track of types, colors, and sizes of various products. If your employees work on commission, the system can also accommodate that and keep track of how much you owe them for what. To accommodate your customers during special occasions, the software also has a gift registry setup option in addition to a gift receipt functionality. For those expensive items, you can even give your customers the option for layaway.

If you are looking for a POS system with extremely high functionality that you can have for little or no upfront cost and just a relatively small monthly fee, the Harbortouch Elite is your best bet.

So as you are trying to decide on a good POS for your new store, by all means shop around and examine all of the options—but you may just find yourself coming back to the Harbortouch Elite. It really is a great system.

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Selling merchant accounts as a successful credit card processing sales agent is easy with North American Bancard Agent Program. Sell merchant services
Tuesday, 19 May 2020
Learn the truth about merchant services and credit card processing sales and how you can become a merchant account sales representative.
Thursday, 18 February 2021
Become a merchant services consultant, merchant account consulting, credit card processing consulting, merchant services consulting, credit card proce
Thursday, 01 April 2021
Selling Merchant Account and Selling Credit Card Processing is one of the most lucrative sales jobs. Become a Merchant Services Sales Agent.
Tuesday, 16 February 2021
Start selling merchant accounts from home and selling credit card processing from home. Become a merchant account salesperson.
Saturday, 23 May 2020
Topics include high risk merchant processors, high risk credit card processors, high risk merchant services, high risk merchant accounts and more
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    © Shaw Merchant Group, LLC. Our goal is to gather accurate, updated information and assist you in your research. We recommended that you check with your service provider or financial institution directly and get independent financial advice before making any commitments or business decisions. 

    Company logos, names, and trademarks mentioned on this site belong to their respective owners.

    All merchant related services and products are referred to North American Bancard for first right of refusal. All information generated on this site is shared with NAB. North American Bancard is a registered ISO of Wells Fargo Bank N.A., Walnut Creek CA, of BMO Harris N.A., Chicage, IL and The Bancorp, Philadelphia, PA.