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How to Pick the Best Merchant Services Agent or ISO Program
Tuesday, March 30 2021

Are you planning to become a merchant service provider? When it comes to merchant services, there are thousands of merchant services agent programs for you to choose from. It is very exciting to become a merchant services provider. However, without the necessary information and details, it is very easy for you to fail. The merchant services business is both complex and lucrative. There are several merchant services ISO agent programs available. Choosing the one to suit your specific needs can be very tricky, but luckily we are going to give you expert advice and tips on choosing the best one. Some factors to consider in order to become a merchant service provider include the tools offered by the company you chose, technology use, and customer supports. This article paints a clear picture of what a great merchant services agent program should look like.

9 Characteristics of a Good Merchant Service ISO Program

The following are some of the key characteristics that define a reliable merchant service ISO program. A company with the following traits increases your chances of being successful in your credit card processing business.

Exceptional Customer Service

This is one of the most critical characteristics of a good merchant services ISO agent program. However, it is one of the most overlooked things when an agent wants to become a merchant services ISO and when seeking out an ISO partner. In the merchant services business, the worst-case scenario would be to receive complaints from your clients, and you are unable to get in touch with your merchant services agent program. This can really ruin your business. It is a great practice to look for merchant services ISO agent program that provides 24/7 customer support. In addition, the customer care representatives should be able to attend to any questions, both general and technical, within the shortest time possible.

Same-Day Funds Deposits

This is another important feature to look out for when choosing a merchant services agent program. Clients do not have to wait for long to get their funds deposited into their bank account when a transaction is made. The same day funding is a great incentive that will leave your clients happy and also help you when promoting your business.

Ability to Handle High-Risk Merchant Accounts

Though you might not be dealing with clients who have high-risk transactions such as travel agencies, CBD companies, bail bonds, credit collections, medical marijuana, etc. it is important for the merchant services ISO program you choose to handle high-risk merchant account. You might get clients who operate high-risk operations, and therefore the benefit of this is to ensure that the business of your clients is running smoothly without any payment glitches.

Great Discount Opportunities

The fees associated with credit card processing are quite high. These high fees have been causing businesses to scramble. The cash discount programs enable merchants to implement a service fee to customers who pay via credit card and issue discounts to those who pay via cash. The merchant does not have to pay a fee for each transaction they run, and therefore this saves them money. You should, therefore, ensure you find a merchant service agent program that offers discount opportunities.

Assistance on Marketing

When it comes to credit card processing business, marketing can be the hard part. However, with a great team behind you to offer marketing assistance, it becomes easy. For you to turn cold leads to warm leads, you will need an effective marketing team. They will assist in providing marketing information as well as design about merchant services.

Flexible Compensation Plan

Getting paid is one of the most important steps as a merchant services provider. It is critical to get compensated for the work and effort you put into your merchant services business. Look out for a credit card processing agent program that will help you realize your goals and meet your needs. Note: Pay attention to the agreement document to make sure you understand all the details.

Residual Income Tracking

A good credit card processing agent program will help you get residual analytics; this is very important for your business. The use of technology and the latest software to track residual income is a must for a good merchant services ISO agent program that you are going to choose. You should be able to see, at a glance, these details: number of clients, average profit, average ticket, top 10 merchants, and more.

Infrastructure

For the success of your credit card processing business, it is critical to look for an ISO partner who readily avails the necessary infrastructure to you. The payment technology is very dynamic, and each year, there are new changes and improvements. There are several other payment methods that have come up. A good credit card processing agent program should give you access to these assortments of payment processing products. All these will give your clients payment processing options to choose from, which helps them to run their business smoothly. A good merchant services agent program should be in the capacity to support most of the following infrastructures:

  • Point of sale options to suit the need of your clients and buyers
  • Smart terminals Online payment processing
  • Mobile payments options
  • A gift card and loyalty programs
  • Check processing services

Multi Relationship with Various Banking Options

A great credit card processing ISO agent program should facilitate a solid relationship with several banks. This creates options to resort to incase one bank declines an account. With this feature, you will have peace of mind and be able to easily close deals and get paid. Shaw Merchant Group Can Help You To become a merchant service provider and to succeed in it can be tricky, especially if you do not have the necessary information, but with the above expert tips, you will be a step closer to being successful. At Shaw Merchant Group, we pride ourselves as being the best merchant services agent program providers. We are ready to help you become a merchant services ISO and succeed in your credit card processing business.

Best Merchant Account Referral Programs
Tuesday, March 23 2021

Are you looking to get involved in the merchant services industry, but you're not sure how to start? A good approach might be to sign up for our merchant services agent program, and we will pay you based on quality leads that you bring to us. You can get as involved in the process as you would like, and depending on your contribution, you can receive lucrative commissions and even residuals. These residuals can continue to pay for the life of the merchant's account, as well.

For some salespeople, referring their existing clients and making a small commission per sign-up may be enough, while for others, the prospect of monthly residuals and working closely with merchants to maintain accounts may be more attractive. It depends on your goals, as well as whether you want to become deeply involved with the merchant services industry as a whole. Needless to say, on all levels, there is nearly unlimited income potential because the field of merchant services is vast and constantly growing. No matter what your circumstance, chances are that many business owners around you are in need of a merchant account, and we are willing to reward you handsomely for the opportunity to serve the leads that you bring to us.

Here is the breakdown of our credit card processing referral program and its different levels:

Very Little Involvement - If you're interested in a relationship that is more akin to affiliate marketing, where you find the leads, refer them to us, and then move on, then we have a program that can accommodate that. Whether you're a long-time affiliate marketer who is looking for a new niche, or you simply work with many merchants and would like a way to make some money from your contacts, this is an easy way to earn commissions without too much commitment. At this level, you do not need to contact merchants any further after you have made the referral.

Simply refer a merchant to us, and you will get $50 for every successful sign-up. The various techniques that you use to promote our services depends on you. If you run a website related to merchant services or that is targeted largely towards merchants and their needs, you could easily mention us and make commissions by referring your visitors. Similarly, if you run a newsletter or an online community, you can promote us to your audience and send them to our website using a custom link.

If in-person contact is more your style, you might try out passing around business cards with your custom link included. If you run a business-to-business enterprise yourself, you may find many opportunities to offer our services to your clients, allowing you to maximize your revenue.

Some Involvement - If you want the chance to earn some residuals, then this might be a good choice. Like the program above, you can earn $50 dollars upfront for every sign-up, but if you have 10 active accounts from merchants that you have referred, then you will be eligible to receive a portion of the revenue that they generate every month. As you can imagine, these residuals can certainly add up as you begin to accumulate more and more accounts.

Just as with the less involved referral program or credit card processing agent program, you may find leads from any number of sources, including leveraging an existing audience of yours or simply visiting local merchants and telling them about what we have to offer.

When you reach the point where you are receiving residuals, you may become much more interested in maintaining your relationship with the merchants to ensure that they stay on board. After all, the lower the account attrition, the better your chances of receiving continuous residuals. If that is the case, you might actually consider getting more involved, and perhaps even targeting local merchants specifically so that you can begin walking them through the process of signing up for our services.

High Involvement - Do you want to help the merchant set up his account step by step? Do you want to make sure that clients get what they need in order to keep the high quality accounts that you have worked to acquire? At this level, your commissions depend on how involved you want to get with the program, but it can be hundreds of dollars upfront per account, plus residuals. The more work you want to put into our clients, the more you will make in terms of commissions.

As you can see, we can accommodate all kinds of salespersons with varying levels of interest in our program. No matter what kind of approach you want to take, you are bound to make money with our high quality merchant services agent programs. We provide tools as well that will help you make the most of your partnership with us, including:

  • A back end that allows you to create custom links with your affiliate code which will let us track referrals that come from you. This makes it easier to credit you with the commission that you are due. You can paste this link anywhere that your audience will be able to see it, whether it is on your website or in your email newsletters.
  • Creative banner ads and other templates that can link back to just about any page on our site. Advertise specific products and services that we offer so that you can target the merchants who need them and increase your conversion rate. There's also no need to build your own graphics from scratch, since you can simply use ours.
  • Free marketing tools. We offer email templates that you can send to your marketing list, landing pages that you can use to convert traffic, and other custom marketing materials.

So whether you are a sales agent, a marketer, or merely someone who is in constant contact with merchants and would like to build another revenue stream, we have a solution for you. Send us your leads and we will reward you. Get into contact with North American Bancard Agent Program to learn more about our merchant account referral program.

Download PDF: Best Merchant Account Referral Programs

Selling a Merchant Account Residual Portfolio
Wednesday, March 03 2021

If you are looking to find out whether you actually own the residual portfolio that you are building, one of the best ways to do so is to ask the processor that you are working with to purchase some of the future residual. This is known as a buyout and it’s a very common step for agents to take when they are in need of quick cash from the sale of an asset like a residual portfolio. If you want to be able to take advantage of these buyouts, you need to be very familiar with what a buyout is and how it can be completed from your side. This guide to the process of selling merchant account residual portfolios can give you the knowledge that you need to conduct a transaction like this and get access to the funds you need

 

Background residual knowledge

If you are going to be selling your share of residuals, one of the most important things that you will need to know is the background of residuals and how they work in order to determine the price that you might get bought out at. Most agents already know how residuals work--you sell merchant accounts and in return, you get a share of the income. For many merchant processing contracts, the merchant’s share of the income is about 50%, leaving the merchant with the other 50%. However, it isn't always the ideal situation for the agent to wait for their income on a monthly basis and some prefer to cash out their earnings up front. A buyout between the agent and the merchant processing company gives them the opportunity to do this and pursue whichever avenue they might want with their lump sum of cash.

 

How much can you get for your residuals?

If you are considering selling your share of a residual contract, then you also probably want to know what your earnings potential is from selling your share in these often steady and lucrative agreements. Generally speaking, a processor will pay 15 months worth of residual payments on your part in exchange for your 50% of the residual share in the merchant processing account. This means that the lump sum that you would be getting is 15 times the size of the monthly residual that you would otherwise be gathering from holding the contract. There are benefits and drawbacks to this.

 

Benefits of selling your residual share

There are a few possible benefits to selling a share that you have in a residual contract that continues to feed you money. The first is that you need quick access to cash. If you do, then this is one of the best ways to do it. A buyout comes with no obligation to pay back or pay interest--it is your money that you earned and you get to keep it.

 

Another benefit of selling your residual share is that you might get something in exchange for nothing, so long as you are planning on leaving the merchant processing industry. If so, then it’s a win for everybody. You will get to be paid 15 months for a merchant processing contract residual that you would otherwise not be getting due to you leaving the business. In exchange, you will hand over the asset that you do have to the merchant processing account where they will continue to collect residuals on the account.

 

The final benefit is that the payout of a merchant services residual contract buyout is actually pretty competitive, compared to what you might otherwise get with a fast lending service or another service that doesn’t have your best interests in mind. The payout of a buyout is guaranteed and you get a good rate. So, if you are in need of an injection of capital for a venture, debt, or any other purpose, selling your share of a residual contract might be the right choice for you.

 

Drawbacks of selling your residual share

Just as there are benefits to selling your share in a residual contract, there are also downsides. One thing that you should be aware of if you are considering selling your share of a residual agreement is that you will not ever be able to get this contract back and earn the residuals for yourself. Once you have been bought out, the movement is permanent. The merchant processing company will not give you a chance to get back into it once your financial situation becomes less muddy and you want to get back in the game. That’s not to say that you can’t close new clients, but you won’t be able to work with the clients that you sold to the merchant processing company.

 

In addition, selling your share in a residual contract could be a bad financial decision. Though it’s tough to assess this because everyone is in a unique situation, the theory is that residual income is basically a guaranteed passive income stream, after the setup is complete. So, how much does a few hundred extra dollars a month mean to you? Without the share of the residual income, you are left with a lump sum, which isn’t so bad. However, it does leave a gap in future wealth generations and could make it harder for you to survive financially in the long-term.

 

When to use a buyout

As a young agent, there are probably multiple situations in which  you feel a buyout of an asset might be the right decision for you. However, buyouts from residuals should only be used in some situations. One such situation is if the agent needs a sudden influx of cash to replenish savings or consolidate a debt.

 

Another reason is if an agent or ISO has a large upcoming business expense that they want to make sure they have the freedom to invest if they so choose. With this flexibility, merchant services agents and ISOs are well-positioned to emerge stronger than ever from any situation that they find themselves in.

 

Contact North American Bancard Agent Program to get a full evaluation or your merchant account portfolio. Get up to 40 times your monthly residual to buy sell your credit card processing accounts. 

 

 

 

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Saturday, 03 April 2021
Merchant services sales training is important to help you learn the ropes about payment processing business and become a successful merchant services
Thursday, 11 June 2020
Start a career in the merchant services sales industry. Start selling merchant accounts and credit card processing services and POS equipment.
Tuesday, 26 May 2020
Welcome to the largest site to find merchant services careers and credit card processing careers. Get into merchant services sales and credit card pro
Tuesday, 29 September 2020
Become a merchant cash advance agent and start selling merchant cash advance. Join the best merchant cash advance business opportunity.
Sunday, 31 May 2020
Refer merchant cash advances to our merchant cash advance company and get commissions for selling merchant cash advances.
Sunday, 24 May 2020
As part of our Merchant Services Sales Partner Program our Credit Card Processing Agents can Sell Merchant Accounts. Join our Sales Partner Programs
Thursday, 13 May 2021
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Monday, 29 June 2020
Build lifelong relationships with our Cash Discount Agent Program. Agents and ISOs looking for the best cash discount program to sell to merchants.
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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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Monday, 17 May 2021
North American Bancard Agent Program, North American Bancard ISO Program, Merchant Services Agent Program, Credit Card Processing Agent Program
Saturday, 03 April 2021
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Thursday, 28 January 2021
merchant portfolios for sale, merchant services residual buyout, merchant account portfolio buyout, merchant portfolio valuation, merchant portfolio a
Sunday, 18 April 2021
learn more about how to become a payment facilitator, join NAB and become the best payment facilitator company. Partner up with a payment facilitator,
Sunday, 02 May 2021
Become a merchant services provider and offer credit card processing, merchant services and other payment processing services to merchant that want to
Tuesday, 29 September 2020
Become a merchant cash advance agent and start selling merchant cash advance. Join the best merchant cash advance business opportunity.
Sunday, 31 May 2020
Refer merchant cash advances to our merchant cash advance company and get commissions for selling merchant cash advances.

Helpful Links

Sunday, 02 May 2021
Become a merchant services provider and offer credit card processing, merchant services and other payment processing services to merchant that want to
Sunday, 24 May 2020
As part of our Merchant Services Sales Partner Program our Credit Card Processing Agents can Sell Merchant Accounts. Join our Sales Partner Programs
Monday, 10 May 2021
Join our Merchant Account Reseller Program where you get huge bonuses for selling credit card processing and merchant services.
Tuesday, 29 September 2020
Become a merchant cash advance agent and start selling merchant cash advance deals today. Our merchant cash advance ISO program is the best in the cou
Wednesday, 03 June 2020
Selling merchant cash advances are lucrative and cash help small businesses by becoming a merchant cash advance agent or ISO. Join our program.
Thursday, 13 May 2021
Looking for the best Merchant Account Affiliate Program. Find the top Credit Card Processing Affiliate Programs with North American Bancard.
Monday, 29 June 2020
Build lifelong relationships with our Cash Discount Agent Program. Agents and ISOs looking for the best cash discount program to sell to merchants.
Tuesday, 09 June 2020
Become a Cash Discount Program ISO with North American Bancard. Sell Cash Discounting to merchants and offer a cash discount reward program.
Thursday, 09 July 2020
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Tuesday, 19 May 2020
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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
    Disclaimer

    © 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.