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Shaw Merchant Group
Tuesday, November 14 2023
How to Become a Payment Processing Reseller: Steps to Success

The Payment Processing Reseller Program offered by Shaw Merchant Group is a unique opportunity for individuals or businesses to become a reseller of merchant services, credit card processing, and payment processing solutions. This comprehensive guide will provide you with all the information you need to understand what the program entails, how to join, and how to be successful in selling merchant services.

What is a Payment Processing Reseller Program?

A Payment Processing Reseller Program is a partnership between a payment processing company, like Shaw Merchant Group, and individuals or businesses who want to sell merchant services and payment processing solutions to their customers. As a reseller, you will act as a sales agent for the payment processing company, earning commissions on every sale you make.

Benefits of Joining a Payment Processing Reseller Program

There are many benefits to joining a Payment Processing Reseller Program, including:

1. Additional Revenue Stream: By selling merchant services and payment processing solutions, you can earn additional income for your business.

2. Flexible Schedule: As a reseller, you have the flexibility to work when and where you want, allowing you to fit selling merchant services into your existing schedule.

3. Training and Support: Payment processing companies often provide training and support to help you succeed in selling merchant services.

4. Expand Your Offerings: Selling merchant services can help you attract new customers and expand your business offerings.

How to Sell Merchant Services

Selling merchant services involves understanding the needs of your customers and providing them with the best payment processing solutions for their business. Here are some tips on how to sell merchant services effectively:

1. Identify Your Target Market: Determine the types of businesses that could benefit from merchant services, such as retail stores, restaurants, or online businesses.

2. Educate Yourself: Learn about the different types of payment processing solutions available, such as credit card processing, mobile payments, and online payment gateways.

3. Build Relationships: Establish relationships with potential customers and understand their specific needs and pain points.

4. Showcase the Benefits: Highlight the benefits of using merchant services, such as faster payment processing, increased security, and improved customer experience.

5. Provide Excellent Customer Service: Offer exceptional customer service to build trust with your customers and encourage repeat business.

Joining the Shaw Merchant Group Payment Processing Reseller Program

To join the Shaw Merchant Group Payment Processing Reseller Program, you will need to complete an application and meet certain requirements. Here are the steps to join the program:

1. Complete an Application: Visit the Shaw Merchant Group website and fill out an application to become a reseller.

2. Meet Requirements: Ensure you meet the requirements set by Shaw Merchant Group, such as having a business license, a dedicated phone line, and the ability to pass a background check.

3. Training and Onboarding: Once you are accepted into the program, you will receive training and onboarding materials to help you get started selling merchant services.

4. Start Selling: Begin reaching out to potential customers and selling merchant services to earn commissions on each sale.

Tips for Selling Merchant Services

To be successful in selling merchant services, follow these tips:

1. Understand Your Products: Take the time to learn about the payment processing solutions you are selling so you can confidently answer any questions from customers.

2. Set Goals: Set realistic sales goals for yourself and track your progress to stay motivated.

3. Build a Network: Establish connections with businesses in your community to expand your customer base.

4. Stay Updated: Keep up to date on industry trends and changes in payment processing technology to provide the best solutions to your customers.

The Payment Processing Reseller Program offered by Shaw Merchant Group is a great opportunity for individuals or businesses to earn additional income by selling merchant services and payment processing solutions. By following the tips and guidelines in this comprehensive guide, you can successfully join the program, sell merchant services effectively, and grow your business. Join the Shaw Merchant Group Payment Processing Reseller Program today to start earning commissions on every sale you make.

Posted by: Admin AT 11:42 pm   |  Permalink   |  Email

What is a Merchant Services Reseller Program?

A Merchant Services Reseller Program is a business arrangement where an individual or company partners with a merchant services provider to resell payment processing services to merchants. Resellers typically white-label the services, allowing them to sell under their own brand while leveraging the infrastructure and technology of the provider. Through the reseller program, individuals or businesses can earn commissions or revenue share on the transactions processed by the merchants they bring on board.

Participating in a Merchant Services Reseller Program can be a lucrative opportunity for entrepreneurs looking to enter the payment processing industry without the need to invest in developing their own infrastructure. Resellers can benefit from the provider's expertise, technology, and support, allowing them to focus on sales, marketing, and client relationships. Additionally, reseller programs often offer training, marketing materials, and ongoing support to help resellers succeed in acquiring and servicing merchants, ultimately generating a steady stream of income through transaction fees and commissions.

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

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