Starting your own small business is a fantastic way to build an income. Whether you already have a full-time job and you’re looking to develop your second income, or you want to become a full-time business owner yourself, there are many markets you can go into. One lucrative market you can enter is that of a merchant services agent, also known as a credit card processing agent. Within this market, how much you are able to generate is determined by the amount of work you put into selling merchant accounts. Leading sales representatives can generate over $100k per year using fantastic sales techniques alongside hard work and grinding.

Due to the competitive nature of the market, as well as unfortunate stereotypes that are commonly attached with salespeople, getting your foot into the door can be challenging at first. Many people may have felt selling mislead or even lied to by merchants in the past, which has made it difficult to become a credit card processing reseller. Here are some steps to help you in your journey to selling merchant services and developing the six-figure income you have always dreamt of.

Know the Ins and Outs of Your Business

When it comes to selling merchant services, you cannot undermine the importance of knowing your product. Within the market, there are very few merchants who are actually able to make sense of their merchant statement. Even those with experience within the industry may not completely aware of the details, which is a fantastic way to help you stand out from the competition.

By understanding the economics behind selling merchant services you are able to efficiently explain the cost-savings opportunity that you are providing. You will be able to answer any questions that are thrown in your direction, which will help to fill your potential client with confidence.

The second benefit of understanding your business is that you can understand the financial impact from your perspective. It is known throughout the industry that the best sales agents understand how much profit is built into each merchant account. This knowledge can be used in a variety of ways, especially when it comes to selling. You will be able to determine which deals are best and when you should choose to walk away. Understanding your business is the best way of understanding how to sell merchant services.

Develop Your Own Sales Plan

In order to produce the highest number of merchant services sales, you must build and refine your sales plan. Every top sales agent within the credit card processing industry has an understanding of how they go about their day to day business. They understand how they can increase their monthly income and how to sell. However, there is no 'optimal plan of attack'. Every agent builds up their own plan that works around their routine and style of selling. Some may choose to target certain parts of the industry, whilst others may make use of referrals or cold calls. Many agents will choose to do a mix of all three of these options to decipher the best results. Learn what works for you and then build upon this foundation to optimize your sales ability.

Build Long-Term Relationships with Local Businesses

Within the industry, building up long-term relationships is crucial so that you can become a successful merchant account reseller. Unfortunately, many sales reps will choose to make a sale, then move onto other opportunities to increase their revenue. There are several faults in this tactic and in the long run, it will work against you. Whilst you are scanning the market for the next sale, it is common for your clients to be approached by competitors within the market. Here, they will be offered cheaper rates, as well as other enticing deals. By building up long-term relationships with your client base, you can protect and build your portfolio. Your unique relationship with the local business will differentiate you from competitors and will become a key selling point when it comes to expanding your own portfolio.

Focus on Referrals

At the end of the day, cold calling is not the most efficient way to make a sale. For many people, it can be outright draining. At the start of your business there is no way around it. At the start of your career, it is simply something you will have to. However, it is not something that you will have to do forever. Referrals will become the most efficient and eventually the best way to grow your business. There are a number of ways in which you can get the most from referrals and become a successful merchant services agent.

Start by setting up a streamlined way in which you interact with your clients, allowing you to maximize your referral potential. Begin by informing your client that you will be back for referrals after you have proven the value of your services. This should be done from the very onset of your relationship, this way you can set the expectation. After your client has been working with you for around a month, show them the benefits that you have benefits you have brought. Once you have shown them the value you have to offer, you can ask for specific referrals. It is important to be as specific as possible. Ask for the doctor they use, the mechanic that fixes their vehicle or the vet who helps their dog. The more specific the question, the more specific the answer.

Summary: Whith these steps won’t guarantee your success within the industry of selling merchant services, they will definitely set you up in the right direction. With the market expanding exponentially, getting started it vital to your success. Make sure that you truly understand everything about what you are selling, as this will provide you with the best foundation to set yourself up for success in the future. Once started, you can always choose to learn more as you advance and develop your business.

If you are a merchant that is discussing the possibility of enrolling in a cash discount program to save you money on your processing, then you are no doubt wondering what to expect and whether it's a good decision for your business. Every decision that you make concerning your business must be made carefully. You care a lot about your business and you would never want to endanger it by making a decision too early or without enough consideration. If you want to truly get the most out of your merchant services experience, then you must at least explore the possibility of enrolling in a cash discount program.

However, you might not even know where to start. If you’ve never enrolled in a cash discount program, you probably don’t know what to expect or how the program could affect your business. We are here to provide you with some guidance and give you the information that you need to make an informed and well-timed decision for your business. In this overview of the cash discount program, we’ll provide a fair and balanced summary of the benefits of the program and also show you some of the potential downsides.

What is a Cash Discount Program?

If you run a business, you are probably familiar with cash discounts. However, cash discounts have become a dying practice. This is mostly because processing cost have put a burden on businesses and they would rather keep the extra margin from the cash to help fund operations. However, a cash discount program offered by a merchant services company is a completely different concept that has been helping to restore these programs across the country.

A modern-day cash discount program is the same in theory as the "cash discounts" of the past in that it incentivizes the customer to pay with cash to provide them with a cheaper price. However, it is much different in the way that the savings are applied. With a traditional cash discount offering, a percentage of the transaction would be deducted from the total when customers choose to pay with cash. This saves the customer and the merchant each a little bit of money, but nothing significant.

In a merchant services cash discount program, the rate is applied to any transaction that is being paid with plastic. The advertised price on your products and services will be paid if the transaction is paid in cash. This passes the cost to those that choose to pay with credit cards and saves the merchant money on processing.

Benefits of Cash Discount Programs

As you can ascertain from our summary of cash discount programs, there are quite a lot of benefits to like about cash discount programs and what they have to offer for businesses that use a lot of processing services. Here are some of the benefits that you can enjoy when you choose a cash discount program for your business.

Lower Cost

When you accept fewer card payments as a merchant, it will inevitably mean that you are paying less in processing cost. Processing cost don't sound like a lot at first, but they can certainly pile up and make a difference in your balance sheet. If you want to avoid processing cost as much as possible, then the best way to do so is to enroll in a cash discount program with your merchant services provider.

The main benefit of a cash discount program from the merchant's point of view is that it enables the merchant to pass on the cost to the consumer through a cash discount program. This leaves the merchant with basically no cost to pay in the end.

Easy Implementation

Many merchants shy away from these sorts of programs because while they would be beneficial for the merchant, many fear that they are difficult to implement. Without the right partner, this might be the case. However, if you choose the right merchant services partner, the implementation can be incredibly easy and painless. Most merchant service providers will provide their merchants with signage to explain the switch and guidance on how to change the process without angering customers. In addition, merchants might be able to gain access to free POS equipment to assist in the system change.

More Cash Payments

When you implement a cash discount program, it only stands to reason that you will start to incentivize more cash payments. More cash payments mean savings for your customer and more margin for you. Once the merchant's customers realize that they can save money by paying in cash, they will be incentivized to do so and it will ease the burden that processing and card payments have on your business. In addition, the business can charge just as much as it was before the switch for the products, except they will not have to adjust for processing cost.

Merchant Fraud Protection

With fewer credit card transactions going through your business, you will also be opening yourself up to less fraud and chargebacks. One of the most common issues with credit card payments is the fraud that often occurs in credit card transactions. When a merchant is accepting more cash than cards, the chances of fraud, and the cost to your business decreases with every transaction.

Drawbacks to Cash Discount Programs

Though there are many benefits of using a cash discount program, there are also drawbacks that prevent some businesses from making the leap. One of the most common reasons for hesitant businesses is the fact that not many consumers prefer to use cash in the modern era. Many transactions are done exclusively with credit cards, and many consumers even dislike using cash altogether. Forcing customers to use cash to get the cheaper price could put your relationship with them at risk. This risk can be mitigated by making it clear why the program is in place, how it benefits both consumer and merchant, and how easy the process is. With open communication, participating in a cash discount program should be a breeze for your business.

Most successful merchant services agents are very dedicated to what they do. If you take this line of work seriously, you probably make it a priority to deliver the best customer service possible to your merchants. You may even be the type who makes himself available 7 days a week in order to serve his clients during busy times or even emergencies. If you are really making an effort to give the merchants what they need, then you should be fairly compensated for it, period. Is your payment processor giving you all of your money?

As terrible as it sounds, it's possible that you may get shortchanged by your processor. Even some people that I know who have been in the industry for awhile don't know with 100% certainty if they are getting the residuals that their contracts state that they should. After all, these documents can be complicated, and it's just so easy for a company to nickel and dime you without your realizing.

I had this sinking feeling that something like that might have been happening it me. I was pretty sure that if it had, I wouldn't readily notice it—I was too busy working on singing up clients and giving them the best possible customer service. I didn't consider it part of my merchant services job to spend my time making sure that my credit card processors were doing theirs.

Do you suspect that your own residuals are coming in short? Do you think that you're being paid less than what you actually made? This can certainly happen, and here are some common signs:

• You're not sure if the residual payments that you get every month are an accurate reflection of what you earned. This is the first red flag. Sure, it is definitely partially your responsibility to keep on top of your income, but by no means does this excuse a processor ripping you off.
• You can't make any sense of your statement and you're not sure how your residuals are even tallied up. Ignorance is a tool that ethically dubious companies can use to prey on hard-working people.
• The statement of your residuals doesn't include much detail beyond the name of your merchants and how much they brought it. Everything should be broken down, or else you don't know why you're getting what you're getting.
• You notice mistakes in your residual report frequently, and you have to waste a lot of time every month fixing the problem, to the point where it's barely even worth it.
• There are fees or adjustments on the statement for reasons that you can't figure out.

Are any of these factors true about your residuals? If so, then it's possible that you are not getting all of the money that is owned to you. This can be hugely detrimental to your business, especially when you're first starting out, because you really need every penny you can get to help you expand. You don't want a payment processor that is engaging in unfair business practices and trying to leech money away from you.

Because of this, it is extremely important that you have all of the details about your payment laid out before you sign up with a processor. Make sure you know exactly how they calculate your residuals, so that there is no guesswork. Just as your clients have the right to know what you are going to charge them for your merchant services, you have the right to know exactly what your payment processor will charge you. After all, payment processing fees are going to be one of the larger costs of your business, so you need to take this into consideration beforehand.

In order to make sure that you are getting what you truly deserve in terms of residuals, take a look at this checklist and make sure that everything is right:

• Your statements and reports should break down your payments in details, so that you know exactly why you are making a certain amount. Don't allow any mystery to exist here.
• Your reports should be made available by your processing company in a variety of formats, and you shouldn't be limited to just paper or some obscure file extension. Make sure that you can get something like an Excel spreadsheet, and that way you can study your statement deeply and verify every detail yourself with your own calculations.
• They should provide some way for you to compare the performance of each of your merchants, and to be able to see what your residuals have been from month to month. Even better, if they have some sort of electronic back-end where you can do this, exploit it as much as you can and verify every cent.
• There should always be a way for you to know what your merchant paid, so that you know they are getting billed exactly the amount that you quoted to them when they signed up.
• You should always have records of the past available to you, and your processor should not make these hard to access. Ideally, there should be a back-end where you can look all of this up with an online account of some kind.

If your payment processor loves to play the mysterious role and keeps you in the dark about all the details—for example, by not offering a break-down in their reports and only giving you general details—then maybe you should start shopping around for another company to work with. Honest companies typically make it a point to be transparent, and you should know that a shady processor that tries to hide details from you isn't your only choice in this business.

These days, I work with a company that truly honors transparency, and I can always expect them to give me an accurate report that stays true to the original contract. After spending nearly two decades working with different processors with varying results, I stopped allowing this kind of vagueness in reporting to be acceptable to me, and I'm very glad I did.

If you find yourself frustrated in a similar way by the statements that you receive, then maybe it's time that you raise your standards as well. Remember that there are tons of options out there, and that you don't need to stay with a processor that doesn't respect the agreement that you signed or that makes tons of mistakes when calculating your share.

So, have you ever experienced an inaccuracy in your statement? What did you do to fix it? Let me know your story, especially if your experience might be of value to others.

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 sell your merchant portfolio, 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 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 merchant account portfolio van 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 a merchant services 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 residual buyout. Get up to 40 times your monthly residual to buy sell your credit card processing accounts. 

One of the most important pieces of equipment for any merchant is their point-of-sale system. As the location through which every transaction that the business takes in goes through, it is important that every merchant have access to a point-of-sale system that is robust, scalable, and has all the functionality that is needed. However, convincing a merchant that they need a POS isn’t the hard part--this is a known fact. Convincing a merchant that your POS is the right choice, however, can be very difficult. To help you get well on your way to selling point of sale systems as a merchant services agent and helping merchants realize the power of a good POS, we present to you 6 actionable tips that you can take into consideration and implement to help sell POS systems.

Why is finding the right POS system important for businesses?

If you have been working with merchants for long, then you already know how important POS systems are to businesses. With this knowledge, it is easy to understand why so much importance is placed on the process of selecting a POS system and utilizing it to its full potential. Each business is unique and while all businesses have the same basic need to facilitate payments, the best way to do so will vary by the business.

For merchants, finding the right POS system is absolutely essential because it will ultimately help to determine what a merchant can achieve with its POS system and whether they will have any limitations. In an ideal situation, the POS system that a merchant selects will not have any negative impact on their business and instead will serve as a reliable addition to their suite of technology that they use in their business on a daily basis.

Be an expert

If you are looking to convince a merchant that they need your POS system, then one of the first things that you will need to do is establish yourself as an expert and a person of authority when it comes to POS systems. This can be done in a variety of ways, but what a merchant really wants is to feel comfortable that you know what you are talking about and you know everything that there is to know about the POS system that you are offering.

If you are hoping to make a great impression on your prospective merchant, then make sure you familiarize yourself with your POS system as much as possible so that you can easily answer any questions that they have about your POS systems and their functionality. With the ability to answer any question that comes your way regarding your POS system, the merchant is far more likely to trust you and find you in a favorable light, which could lead to a purchase.

Nurture a relationship

The next very important part of the process if you want to have success with selling merchant services and POS systems is nurturing the relationship between the merchant and the agent. There are a variety of ways that this can be done, as well. You must remember that each merchant is unique and is going to require varying levels of customer service and support.

One of the first ways that you can nurture a relationship with a merchant is to get to know them and their business personally. Not only will this make them feel valued and heard, but it will also give you much more knowledge of their areas of need so that you can address them most completely, earn trust, and ensure that your POS system fits the needs and requirements of the merchant you are working with.

With these things in mind, your merchant should be kept happy and satisfied.

Address areas of need

If you truly want to satisfy your merchants and make sure that they are taken care of and are more willing to purchase from you again, then you need to make sure that you are meeting their needs. You should start each relationship with a full audit of what your merchant needs and make a plan for how you can address it.

With this fuel at your disposal, you can approach negotiations from a position of power and understanding to increase your chance of closing the sale and making your merchant confident that you can handle their needs effectively.

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 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!

Are you looking for a good merchant services affiliate program with a merchant services company? Becoming an affiliate means that you can help promote the great products and services at Shaw Merchant Group and receive a commission for what you help us earn from each lead. If you already have a popular website or other platform, then affiliate marketing may be a great way to monetize your audience.

We're as dedicated to our affiliates as we are to our agents, so we won't just give you an affiliate link and send you on your way; we offer tools that can help you attain true success. So why not give your customers exactly what they need—a great merchant account solution—while earning money in the process?

Why is Shaw Merchant Group a great partner for your affiliate marketing venture?

• We have highly effective sales representatives that will ensure your conversion rates are high
• We offer marketing tools so that you can more easily draw in leads
• We offer top-notch customer service if you ever have a problem
• We pay you upfront

Why not sign up today? Signing up with us is free, so you have nothing to lose when you add Shaw Merchant Group to your arsenal of merchant services affiliate partners. We provide tons of analytics and accurate reporting of your conversions, and we pay you on time every month. Get into contact with us and start helping your audience by helping us sell our quality products.

Download PDF: Best Merchant Services Affiliate Program

If I had to make a rough estimate, it seems to me that about 90% of merchant services agents aren't actually very familiar with their residual splits and how they work. This isn't a great position to be in and you don't want to be in the dark, so take a look at these tips to get a good grasp on the subject:

1) First of all, do you actually own your residuals for the life of you account? If not, then years of work on your part could just disappear literally overnight. You could have been working tirelessly to build up a huge portfolio, but it would all be down the toilet simply because you stopped selling for awhile. Many ISOs have these stipulations, where you're required to bring in new accounts every certain amount of time, or your residuals are lost. Does that sound fair to you?

So many agents fall for this racket. Don't do this, no matter how much bigger your part of the split will be. Over the long-term, it's just not worth it. You're trying to build long-term passive income here, not turn your work in sales into an ordinary job—that's a waste of a great opportunity. Make sure you ask about this before you choose a merchant services ISO program. Tell them to give you an exact play-by-play of what will happen if you decide to leave the business. If the answer is “You will lose your residuals,” then walk away. Also, if you can't sell your residuals, then reconsider as well, since this is an indication that you don't really own them.

2) Forget about the percentage of your split. This doesn't really mean anything. To illustrate this better, let's say you're playing monopoly and your friend wants one of your properties. He offers you 30% of his net worth for it. However, another player butts in and raises the stakes. He tells you that he'll give you 50% of his net worth. Finally, a third player screams over your other two arguing friends and declares that he'll give you 10% of all of his cash if you will sell him the property. How do you decide which deal to take?

Well, obviously, you don't have enough information to make a good decision, do you? Before you know which deal is the best, you need to know the net worth of each of the players! After all, if Player 1 and Player 2 only have 100 monopoly dollars to give you, then you know that what they're offering is a raw deal if Player 3's net worth is 5000 dollars. Even with only 10% of that, it's far more than what the other two players were offering.

The same goes with credit card processors. Ignore their bragging about how they will give you 70% or 80% or whatever inflated number. It doesn't actually mean anything unless you know how they calculate the profit in the first place. Always get some context for these numbers, or else they are just going to be completely useless to you.

3) Always keep an eye on costs and the fees that the processor is going to charge you, as this will have much more influence on your profit than the actual split. You can find out what these fees are by looking at the Schedule A that your credit card processing agent program will provide for you. You will also need to ask yourself a few things when considering cost. For example, do they add basis points before they calculate the profit? What are they going to charge you for the transaction fee?

Some processors give you a true interchange pass through, while others will mark up the fees a few basis points above interchange before they start to calculate the profit. With the former kind of processor, things are a bit more obvious. For example, if your transaction fees are $0.03 and you in turn set up your merchant's transaction fee as $0.09, the profit per transaction is $0.06. If you had a 50/50 split, then you would get half of that in the end. It's a case of simple arithmetic. However, if you're having to deal with a huge mark up of dozens of basis points first, a lot of that profit is lost, and even if you had a 90% split, it wouldn't be worth it.

By the way, stay away from “buy rate” programs, as they don't offer you good deals. If you have any doubts about this, then be sure to get into contact with me and I will tell you all about it. You might be tempted to go with one of these programs, but I assure you that after I break it down for you, you will change your mind. Always go with a revenue sharing plan, as it's much more lucrative in the long run, especially if you choose a good processor to work with. I've even heard of processors trying to set up these kinds of deals with merchant services ISOs themselves, which is very silly in my view. You're trying to run a business here and build your empire, so don't settle for a buy rate.

4) The pricing is not as important as the cost structure when you want to get accounts of a significant size. Aim for a low cost structure for your clients. If your processor is charging more per transaction than $0.04, then you probably won't be able to pass on a reasonable deal to your merchants, so think twice about going with a processor that is this pricey, even if you're making 80% of the split. Make sure to have more than one partner so that you have access to the lowest rates and the best deals, and this way you can give your merchants a variety of options. This is especially true for your larger merchants.

5) Finally, keep in mind that you shouldn't get too caught up in either the cost structure or how much of a percentage of the residuals that you get. Ultimately, making the sales is what will determine your success in the long run. You need merchants to make money, and you need to close a lot of deals. Any merchant services ISO program or processor that you're partnering with should know this and help you get the kind of training that will lead you down the right path. If you can't even close deals, then there's no point in worrying about your compensation—you won't be getting it anyway! Whether you make 50% or 90% of $0, it is still $0, and that's certainly not a handsome residual to be getting every month. So choose your associates wisely, as they can help you to succeed—or drag you down.

We're happy to help you on your endeavor, so we offer all kinds of resources, from informative material, to help with your marketing, to training. If you're curious or have any questions about how to move forward in this career, then don't hesitate to send us an email.

If you are looking for a fast-paced, rewarding, and lucrative career in merchant services, then now is the time to become a North American Bancard partner. North American Bancard partners enjoy a variety of benefits that set the program apart from all the rest. For those that want to make a difference in the industry and build a vast network of revenue-generating accounts, this partner program is the solution for you. Our suite of best-in-class products combined with premium sales support set you up for success in this very lucrative sales industry.

A Suite of Bonuses to Maximize Earnings Potential

As a partner of the North American Bancard Agent Program, you will have access to various benefits and bonuses that can be achieved through hard work and diligence. These available bonus programs will maximize your earnings potential and make it easier for you to achieve the salary that you want. With various bonuses available to all merchant services representatives, you can create a robust and passive income that increases with time.

Summary of Bonuses:

• Activation Bonus
• Approval Bonus
• Profitability Multipliers
• Limited Time Promotions

Timely & Predictable Payments

When you work with North American Bancard, you will be able to predict when you are getting paid, and how much. This differs in comparison to other sales programs that make it difficult to know when you will be paid and in what amount it will be.

For maximum control and insight into what your seller metrics are, you can also access an intuitive and easy-to-navigate partner dashboard that will give you access to analytics, payment information, and a visual aid to help you learn about your residuals.

About Our Dashboard

In addition to payment information, there are other benefits of our robust partners' dashboard.

1. Sales Tools: To support our partners in the best way possible, our merchant dashboard contains sales tools that will help you to remain competitive in the market.
2. Portfolio Management: You can find all the merchants in your portfolio in the portfolio management section, allowing you to easily make changes to all aspects of your accounts.
3. Enrollment: With our dashboard, you’ll be able to easily enroll in promotions for yourself or your merchants. This makes saving money and earning more a breeze.

Benefits of Becoming a Partner

Joining the North American Bancard partner program comes with dozens of benefits. Here are some of the amazing perks that you can look forward to when you join our program and elite force of account managers.

High Earnings Potential

When you join the North American Bancard partner program, you’ll be coming on board a team that has shown, through decades of success and excellence, that this is one of the best ways to increase your earnings potential and break into a field that maximizes your salary.

If you want to earn a lot in a lucrative field, then this program is the right choice for you.

Signing Bonus

One of the main ways to earn income in the North American Bancard partner program is through our various selection of bonuses. Our suite of bonuses includes a lucrative signing bonus that is enhanced with each account you are able to successfully gain. We are happy to be able to offer these benefits to our partner participants and increase their income in a variety of ways.

Serve High-Risk Merchants

One of the most restricting factors that affect sales reps from other merchant services companies is their failure to serve high-risk merchants. High-risk merchants do have a place in merchant services and the North American Bancard partner program is able to serve these merchants and gain the lucrative contracts that they often present.

As a participant in this program, you will be able to share in the profits that come from working with these clients and expand your network of earnings potential exponentially. When you join our program, you’ll be opening up the world of possibilities to increase your earnings potential and grow your accounts under management.

Point of Sale Perks

Part of being successful as a merchant services agent is being able to provide your merchant with maximum benefits. Working with the North American Bancard partner program allows you to offer benefits, unlike any other partner program. We allow our representatives to entice merchants with POS systems to modernize small businesses and give them the tools that they need to succeed in this hyper-competitive business environment.

ATM Machines

If you’re looking to diversify your income and increase your earnings potential, then you will love being able to offer ATM services to your merchant clients. ATMs have long-proven to be a sustainable source of income and when you work with North American Bancard, you’ll be able to bring in a share of ATM revenue in your merchants’ places of business.

ATMs will always be in demand and the ability to offer them to your clients will enable you to build income streams that could last for decades.

Cash Advance Option (VAR)

In addition to all of the other services that North American Bancard is able to offer merchants, you will also be able to provide your merchants with cash advance short-term loans, which carry high-interest rates and create a mutually beneficial situation. North American Bancard DOES NOT offer merchant cash advance loans directly but reccommend agents seek out a merchant cash advance partner to offer this additional service. You will earn commissions on cash advance services and build even more trust between you and your merchants in being able to offer them funding for basic operations, expansions, and emergency situations.

Etice More Clients With Our EDGE Cash Discount Program

Of all the benefits of working with North American Bancard in our partners' program, perhaps the most important is the EDGE Cash Discount Program. The EDGE Cash Discount Program was created as a way to help the consumer, merchant, and account representative all save money and earn more revenue. Being able to offer the EDGE Cash Discount Program puts you ahead of other reps in your industry because of the benefits that it is able to offer to merchants.

1. Free Equipment: Merchants that participate in the EDGE Cash Discount Program will be able to get free equipment that makes the switch easier than ever. Build trust and establish credibility with your merchant by offering them free equipment to upgrade and modernize their POS systems.
2. Save Money and Profit (Same as Cash on Every Transaction): The main draw of the EDGE Cash Discount program is that it is able to help merchants profit the same on every transaction as they do with a cash transaction. Edge customers increase thier bottom line and help reduce thier overall payment processing expenses.
3. Marketing Materials: Marketing a program like the EDGE Cash Discount Program isn’t always easy, but we provide our reps and our merchants with all the signage and literature that they will need to easily explain the program to their customers and make them feel at ease. We provide you with the resources you need.
4. Mutually Beneficial: While implementing a dual price model and charging more for non-cash payments can seem painful at first, it is very benificial to the consumer in that they save money easily by paying in cash and supporting thier local business by making the transaction more affordable than simply raising all prices no matter what payment method is used.

Become a Partner

If you want to thrive in merchant services, then join the North American Bancard agent program, considered to be the best merchant services agent program in the country and well-known for providing reps with the tools they need to succeed.

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 merchant 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 services 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 

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.