Simple Truths About Merchant Services Sales

Friday, April 21 2023

Though you may have heard a lot of things about merchant sales and what it's like to be in an industry like merchant services, we’re here to set the record straight. With years of experience in merchant services sales and through the valuable experience of working with hundreds of merchants, we are able to offer unprecedented insight into the world of merchant services sales and what you can expect when you get into this industry. This information might make you more hesitant to go into this business or more excited. Either way, it’s important that you know the information. Here are some of the most basic and fundamental truths about merchant services sales and what you need to know before you get into merchant services sales.

Why is it important to know?

If you are thinking of getting into merchant services sales, it is absolutely essential that you hear about the good and the bad when it comes to this very difficult, but often lucrative industry. The information that you learn here could help you to form a decision on whether you want to join this industry or it could give you valuable background information before you do make the leap. Either way, follow along for some very important insights into the world of merchant services sales.

Plenty of benefits in the merchant services sales industry

In the merchant services sales business, there are plenty of benefits to enjoy for those that are willing to work hard and be persistent. Here are some of the many benefits that you can enjoy when you choose a career in merchant services sales.

High earnings

In any sales job that is heavily based in commissions, there is the opportunity for a high level of earnings. However, any accomplished salesperson, especially in merchant services sales, will tell you that it definitely doesn’t come easy. To earn a high income in this industry, you will have to grow your network and work extremely hard.

Flexible scheduling

A sales job like merchant services sales allows you to have some flexibility in your scheduling and when you want to work. Because many times you act as your own boss, you have the power over how you allocate your time and which accounts you pursue.

Fast-paced variety

If you love going to work every day not quite knowing what is in store, then merchant services could be the business for you. Because the industry is always changing and adapting, your days will go by quickly and you'll likely feel busier than ever trying to keep up. If you thrive in this environment, then you'll probably love merchant services.

There are some drawbacks, too

In the merchant services sales industry, there’s a lot to love. However, there are also some drawbacks that you will need to endure throughout your time in merchant services sales. Here are some of the things that you’ll have to watch out for and push through if you’re going to have success as a merchant services rep.

Frequent rejection

When you’re in any sales job, you must learn to deal with frequent rejection. Not every merchant is going to be interested in your services, but you can’t take it personally. If you have a hard time dealing with rejection and being persistent in the face of rejection, then this might be a tough industry for you to succeed in.

High competition

Another drawback of merchant services sales is that while every merchant needs the services that you are offering, they often have dozens of options to choose from for places that can provide those services. You will have to find a way to stand out in the crowd and provide value to the businesses that you are working with.

Merchant services sales--a good place to work?

All things considered, working in merchant services sales is overall considered a great industry to work in. With high earning potential and a rewarding career path for those that are dedicated salespeople, it remains a very attractive career for anyone that is drawn to sales.

Posted by: Scott Shaw AT 12:40 am | Permalink | Email

Partner Program Details

Sales Partner Program Details

Become a white label payment service provider today and take your business to the next level. If you are a sales-oriented individual with vast experience in the world of payment processing or you are a driven and motivated professional looking for a new challenge, the SMG white label program might be a great fit for you. With the highest paying commission structure in the industry, superior products, and sales support, our white label program will see to it that you are rewarded for your efforts.

For anyone with a sales background or a passion for the payments industry, SMG is the ideal white label ISO Program. There are dozens of reasons to become a white label payment processor with Shaw Merchant Group, but don’t just take our word for it. Here are some of the top reasons that we were given when we asked our white label participants why they chose us and why they continue to work with our highly lucrative program.

Sales Partner Portal

With our industry leading partner portal, you’ll have access to online enrollment, training sessions, marketing materials, and you’ll always be ahead of the game with the latest news and promotions.

Alerts

Stay up-to-date on merchant issues and their resolutions via automated emails and text messages that include a detailed ticket number describing what the merchant’s concern was and how it was resolved.

Registered DBA Program (White Label)

With our program, you’ll be able to market under your own brand, without paying costly fees! Your brand will be seen on the partner portal, marketing communications, merchant statements, and more.

Free Equipment for Your Merchants

Selling businesses on a new processing plan is much easier when you are able to effortlessly jump over the hurdle of the cost of the equipment. With this program, you can offer your clients free POS terminal equipment that they will need for their processing provider change. This lowers the barrier to switching and creates a higher conversion rate for you.

Lifetime Passive Income

You will recieve 50–70% of residual income based on the pay structure you select. You will share income on every available revenue stream. With SMG, you get a True Interchange Revenue Split. Unlike other merchant white label partner programs, there is no basis points off the top for BIN sponsorship or for what they call hidden losses. Our sales partners earn more residual income with our 50/50 partner program than you would with our competition who claim to offer a higher percentage because thier interchange cost (buy rate) is higher.

$20K Performance Bonus

We offer a performance-based fast start bonus that is payable for anyone that onboards more than the standard threshold of clients in the first 4 months. This program is designed to reward those experienced sales members that join our team and quickly learn how to sell this product. The bonus can reach up to $20,000, making it one of the most lucrative and competitive in the industry.

Profitability Based Bonuses

We will look at how much profit is generated on the account after they have been processing for one month and you earn 14 times of the total profit. Example: If we retain $100 in residuals in that month, the bonus would be 14 x $100 or $1,400. You would have already been paid $600, so we would pay you an additional $800 on that account. This bonus is capped at a max of $10,000 per merchant per location. With our dual pricing program it is easier than ever to earn huge bonuses with a 14x profitability bonus. This dual pricing model enables you to maximize your bonus at $10,000 on almost every merchant processing over $90k..

Dual Pricing Program

When you are selling merchant services, one of the best assets of any partner program is more rewards and incentive programs that save your client money. The Edge dual pricing program is one of the hottest new commodities in credit card processing, as it is designed to save the client thousands of dollars in credit card processing cost, instead passing on the fee to the consumer in a way that isn’t damaging to their own conversion rate and revenue. We offer this program to our clients and make it easy to understand and present for our sales partners.

Medical Benefits

With some sales jobs, you don’t even have the option for medical coverage. With the SMG white label program, you’ll have the resources that you need to provide healthcare coverage to you and your family at an affordable rate. We take care of our own, and when you are in our program you will have access to these benefits.