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Shaw Merchant Group
Wednesday, February 14 2024
Merchant Services Reseller Program

Merchant services is one of the most lucrative sales industries in the world, and many people are starting to realize the potential in becoming a payment processing company. However, if you are looking into getting into the industry, there are a few pieces of information that you will want to know beforehand like what reselling is all about, what are the benefits, and how you should go about choosing a merchant service provider partnership for your adventure in reselling. Shaw Merchant Group is one of the most reputable reseller programs in the industry and we’re going to show you all of the information that  you will need to start on the right path when it comes to being a reseller of merchant services.

What is a Merchant Services Reseller?

The first step to become a merchant service provider is understanding what exactly merchant services are and what a merchant services reseller program is. Merchant services are services that are rendered to merchants that are essential to doing business and accepting payments. There are unlimited businesses that need these services to function, but that also means that it is a competitive industry. However, success in this industry can mean a lifetime of residual and passive income, and that is why so many people choose to become a payment service provider, along with the other benefits that it affords.

Merchant services reselling is an activity in which a person or company serves as the intermediary between a business and the merchant services that they need.  Reseller sells the services to merchants and sources them from a merchant services provider at a lower rate, securing profit for those that resell the merchant services.

What are the Benefits of Being a Merchant Services Reseller?

Being a merchant services reseller is a difficult field to succeed in, but there are many reasons to pursue being one. This field comes with a lot of benefits that attract people to become a payment service provider. Here are some of the benefits that you can enjoy when you choose to be a merchant services reseller.

No Overhead

Being a merchant services reseller means that you won’t have any overhead as a businessperson. Since you are keeping nothing in stock and you won’t have to keep any equipment in-house to provide the merchant services that you offer, your risk is reduced and you are less vulnerable to business losses.

Help Local Businesses

One of the main benefits to being a merchant services reseller is that it is a rather fulfilling career. With the ability to provide businesses with reliable merchant services, you can feel fulfilled in your job and help your local community.

Earn a High Income

People who are highly drawn to becoming a merchant service provider are often done so because of the potential and ability to earn a high income that is not limited by anything other than your success in merchant services and your ability to convince businesses to use you for their merchant services. Commissions are how you earn money with providing merchant services and the difference in price between what you're selling the services for and what you are buying them for. With that in mind, it is one of the most lucrative industries that you can be in.

What Should You Look for in a Merchant Services Reseller Program?

If you are going to be a successful merchant service provider, then you need to work with a reliable ISO agent partner. Having a good ISO agent program to support you will allow you to offer premium and superior service that meets the needs of your clients and ensures that they will come back for more as needed.

Payouts

You always want to work with a ISO agent program that provides timely and accurate payouts. Running a merchant services business isn’t profitable without receiving a reliable stream of payments, so make sure that the company that you partner with, such as Shaw Merchant Group, offers reliable and accurate payouts.

Business Tools

If you want to have the best chance of success possible in selling merchant services, then you need to work with a partner that has the business tools to make it happen. These include marketing materials, literature, and other tools to help you bring in a reliable steam of clients. Shaw Merchant Group has one of the most comprehensive suite of business tools out there to provide you with the resources that you need.

Online Reputation

You should always verify the reputation and trust that your ISO partner maintains if you want to have success as a merchant service provider. As a independent agent, you are only as good as the program that you work with. Working with a program that has a good reputation among merchants is essential to having success in your own business. 

Posted by: Scott Shaw AT 09:39 pm   |  Permalink   |  Email
 

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Becoming a merchant services agent and setting up a payment processing business can be a lucrative and rewarding career path for individuals with a passion for sales, finance, and technology. As a merchant services agent, you can help businesses of all sizes accept credit card payments, online transactions, and other forms of electronic payments. In this article, we will discuss the steps involved in becoming a merchant services agent, including the skills and qualifications needed, the process of partnering with a payment processor, setting up your business, marketing your services, and tips for success.

Step 1: Develop Sales Skills and Industry Knowledge

To become a successful merchant services agent, you will need strong sales skills, a deep understanding of the payment processing industry, and knowledge of financial products and services. Develop your sales skills by taking courses, attending workshops, and gaining experience in sales roles. Familiarize yourself with different payment processing solutions, pricing models, compliance regulations, and industry trends to provide valuable advice and solutions to your clients. Stay updated on the latest technologies, security standards, and payment processing tools to offer innovative solutions that meet the evolving needs of businesses.

Step 2: Partner with a Payment Processor

As a merchant services agent, you will need to partner with a payment processor or merchant acquirer to access the necessary technology, support, and resources for your business. Research different payment processors, banks, and financial institutions to find a reputable partner that offers competitive rates, reliable services, and robust technology solutions. Consider factors such as customer service, compliance support, underwriting processes, and revenue sharing agreements when choosing a payment processor. Build strong relationships with your partners and collaborate closely to ensure a seamless experience for your clients.

Step 3: Obtain Industry Certifications and Licenses

To operate as a merchant services agent, you may need to obtain industry certifications, licenses, and compliance training to ensure that your operations comply with regulatory requirements. Obtain certifications such as Payment Card Industry Data Security Standard (PCI DSS), Certified Payments Professional (CPP), or Accredited Payments Consultant (APC) to demonstrate your expertise and credibility in the payment processing industry. Consult with regulatory agencies, industry associations, and your payment processor to understand the specific requirements for licensing and certification in your area.

Step 4: Set Up Your Business Entity

Once you have partnered with a payment processor and obtained the necessary certifications, it’s time to set up your payment processing business as a legal entity. Choose a business structure that suits your needs, such as a sole proprietorship, partnership, corporation, or limited liability company (LLC). Consult with a business attorney or accountant to determine the best structure for your business based on factors such as liability protection, tax implications, and operational flexibility. Register your business name, obtain a tax ID number, and open a business bank account to manage your finances and transactions.

Step 5: Acquire Sales Tools and Technology

To effectively market your services and attract clients as a merchant services agent, you will need to acquire sales tools, technology, and resources to support your operations. Invest in customer relationship management (CRM) software, sales automation tools, and lead generation platforms to streamline your sales processes, track leads, and manage client relationships. Access marketing materials, brochures, and sales collateral from your payment processor to promote your services and educate clients on payment processing solutions. Utilize social media, email campaigns, and networking opportunities to generate leads and build relationships with potential clients.

Step 6: Develop Pricing Models and Service Offerings

As a merchant services agent, it’s important to develop competitive pricing models and service offerings that meet the diverse needs of your clients while ensuring profitability for your business. Research industry standards, pricing trends, and competitive rates to determine the optimal pricing structure for your services. Consider offering customized solutions, value-added services, and customer incentives to differentiate your business and attract clients. Provide transparent pricing information, contract terms, and service level agreements to build trust with your clients and establish long-term relationships.

Step 7: Market Your Services and Generate Leads

To grow your payment processing business as a merchant services agent, you will need to implement effective marketing strategies that reach your target audience and generate leads. Develop a strong brand identity, website, and marketing materials to showcase your services and value proposition. Utilize online marketing channels such as social media, search engine optimization (SEO), and pay-per-click advertising to drive traffic to your website and attract potential clients. Attend industry events, trade shows, and networking opportunities to promote your business, build relationships with key stakeholders, and generate leads for your sales pipeline.

Step 8: Provide Excellent Customer Service and Support

One of the key factors in the success of a merchant services agent is providing exceptional customer service and support to your clients. Establish clear communication channels, responsive support systems, and efficient problem-solving processes to address client inquiries and issues promptly. Train your staff on best practices for customer service, technical support

In today's digital age, businesses of all sizes are turning to online payment processing solutions to streamline their operations and increase sales. One popular option for merchants is white label payment processing, which allows agents to offer their own branded payment processing solutions to their clients.

What is White Label Payment Processing?

White label payment processing is a service provided by a third-party payment processor that allows agents to resell payment processing solutions under their own brand. This means that merchants who sign up for these services will see the agent's branding on their payment processing platform, rather than the payment processor's branding.

White label payment processing offers a number of benefits for merchant services agents and their clients. For agents, it provides an opportunity to generate additional revenue by reselling payment processing solutions to their clients. It also allows agents to build and strengthen relationships with their clients by offering them a branded payment processing solution that meets their specific needs.

For clients, white label payment processing offers a seamless and convenient way to accept payments online. The branded payment processing platform can be customized to match the merchant's branding, providing a more cohesive and professional experience for their customers. Additionally, white label payment processing solutions typically come with a range of features and tools to help merchants manage their payments more effectively.

How Does White Label Payment Processing Work?

White label payment processing works by allowing agents to resell payment processing solutions from a third-party payment processor under their own brand. The agent partners with the payment processor to set up the white label service, then offers it to their clients as a value-added service.

The white label payment processing platform is fully customizable, allowing agents to add their branding, colors, and logo to create a seamless experience for their clients. Agents can also set their own pricing and fees for the service, allowing them to generate additional revenue from reselling payment processing solutions.

Once a client signs up for the white label payment processing service, they will be able to use the branded platform to accept payments online. The payment processor will handle all payment processing transactions, including authorizing payments, capturing funds, and settling transactions. The agent will typically receive a portion of the fees generated from the transactions as a commission for reselling the service.

Benefits of White Label Payment Processing for Merchant Services Agents

There are several benefits of white label payment processing for merchant services agents. One of the main advantages is the opportunity to generate additional revenue by reselling payment processing solutions to their clients. Agents can set their own pricing and fees for the service, allowing them to create a new revenue stream for their business.

White label payment processing also allows agents to build and strengthen relationships with their clients. By offering a branded payment processing solution that meets their clients' specific needs, agents can provide added value and establish themselves as a trusted partner in the merchant services industry.

Additionally, white label payment processing provides agents with a competitive edge in the market. By offering a branded payment processing platform, agents can differentiate themselves from competitors and attract new clients who are looking for a more personalized payment processing solution.

Overall, white label payment processing is a valuable service for merchant services agents looking to expand their offerings and provide added value to their clients. By reselling payment processing solutions under their own brand, agents can generate additional revenue, strengthen client relationships, and gain a competitive edge in the market.

Key Features of White Label Payment Processing Solutions

White label payment processing solutions typically come with a range of features and tools to help merchants manage their payments more effectively. Some key features of white label payment processing solutions include:

1. Custom branding: White label payment processing platforms can be fully customized to match the agent's branding, colors, and logo. This provides a seamless and professional experience for clients using the payment processing platform.

2. Multi-currency support: Many white label payment processing solutions support multiple currencies, allowing merchants to accept payments from customers around the world. This is particularly useful for businesses with international customers.

3. Payment gateway integration: White label payment processing solutions typically come with payment gateway integration, allowing merchants to securely process payments online. The payment gateway handles authorizing payments, capturing funds, and settling transactions.

4. Reporting and analytics: White label payment processing solutions often come with reporting and analytics tools that allow merchants to track and analyze their payment transactions. This data can provide valuable insights into sales trends, customer behavior, and more.

5. Fraud prevention: White label payment platforms typically come with built-in fraud prevention tools to help merchants detect and prevent fraudulent transactions. This helps to protect merchants and their customers from online payment fraud.

Overall, white label payment processing solutions offer a range of features and tools to help merchants manage their payments more effectively. By reselling these solutions under their own brand, agents can provide added value to their clients and help them streamline their online payment processes.

Conclusion

White label payment processing is a valuable service for merchant services agents looking to expand their offerings and provide added value to their clients. By reselling payment processing solutions under their own brand, agents can generate additional revenue, strengthen client relationships, and gain a competitive edge in the market.

White label payment processing solutions offer a range of features and tools to help merchants manage their payments more effectively. These include custom branding, multi-currency support, payment gateway integration, reporting and analytics, and fraud prevention tools.

Overall, white label payment processing is a win-win solution for both agents and their clients. Agents can generate additional revenue and build stronger client relationships, while clients benefit from a seamless and professional payment processing experience. With the growing demand for online payment solutions, white label payment processing is becoming an increasingly popular option for merchant services agents looking to enhance their offerings and stay ahead of the competition.

Become a Credit Card Processing Reseller

Becoming a credit card processing reseller can be a lucrative opportunity for individuals or businesses looking to enter the financial services industry. To start as a credit card processing reseller, one must first research and identify reputable payment processing providers with reseller programs. It is important to partner with a provider that offers competitive pricing, reliable technology, and excellent support to ensure success in reselling their services. Once a provider is chosen, prospective resellers can typically sign up for a reseller program and receive training, marketing materials, and ongoing support to help them succeed in acquiring merchants and generating revenue through commissions on processed transactions.

As a credit card processing reseller, individuals or businesses have the opportunity to earn passive income through commissions on merchant accounts they bring in. By building relationships with merchants, providing excellent customer service, and promoting the benefits of the payment processing services, resellers can grow their client base and increase their revenue potential. Additionally, resellers can take advantage of the provider's expertise and resources to offer a comprehensive payment processing solution to their clients, without the need to invest heavily in infrastructure or technology. With dedication, strategic marketing efforts, and a focus on delivering value to merchants, becoming a credit card processing reseller can be a rewarding and profitable venture in the financial services industry.

    ©2023 Shaw Merchant Group is a registered DBA of EPX, a registered ISO of BMO Harris Bank N.A., Chicago, IL, Fresno First Bank, Fresno, CA, and Citizens Bank N.A., Providence, RI.