- Merchants and agents alike are capable of calling in and speaking to a live person. No long hold times or voicemails.
- We represent over 10 different banks and processors worldwide. Ensuring that agents are able to place the majority of the accounts they sell. Don’t miss placing a high risk merchant because your current solution only uses one bank.
- Our attrition rate is under 3% annually without contract termination fees! The industry average is over 20%. Merchants stay with us because of our pricing and support.
- We process hundreds of millions of transactions annually.
- Best of all, our agreement is non-exclusive! Work with as many different processors/banks as you would like. We guarantee we will earn the majority if not all of your business.
- Call today and let us show you how we can help increasing your residuals while also exceeding your expectations.
BEING A Merchant account AGENT
All merchant account agents want to know upfront on the salary that they will earn, so that they can plan their sales targets accordingly. Considering statistical data, the merchant account agents will earn around $ 30 every month and this is their residual income. Consider the case when the agent is able to find 10 people who opt for a merchant account. If this trend continues every month, the agents can earn about $ 3600 each month and this will accumulate to $ 36000 for a year, i.e. the first year. This amount will become $72000 every year after the 2nd year ends. When the 3rd year ends, the amount would be $ 108000 every year.
The income of the merchant account agent will increase at a good rate and the agent has to make sure that he adds new customers to his customer list. This may seem very easy but in reality, it does not mean that ten new customers will easily add to your customer list. This is especially true for those agents who do not have much experience in this industry. It is not true that the same conditions will prevail always. It is common to find attrition happening here also; on an average, the accounts that are setup by a person can reduce.
As a first step, merchant account agents sign contracts with ISOs (this is the common way of addressing Independent Service Operators). These ISOs have to register themselves with Master Card and VISA. The responsibility of the agents is to promote the merchant account business among merchants and find new merchants every month for signing up merchant accounts. The ISOs have the responsibility of offering services to the merchants like providing the account and the needed technical cum customer support. ISOs share processing fee with merchant account agents. The rule is the agents and ISOs earn more and more as the businesses process more and more credit cards.
Merchant account agents must know a few facts – firstly, they should not have the feeling that it would be possible to earn well in the initial days. The reason for this is that the normal process of earning is gradual and many agents do follow the part-time route to establish themselves. The agent must spend the initial phase in familiarising with the business and building the practice of closing sales. It is like other marketing jobs and it takes a while to build a good number of customers. As months pass, the confidence level of the agent will improve. At the same time, his income will also look up and make him suitable for choosing to work full-time. If the agent masters the process of handling customer queries effectively, it becomes easy to deal with future customers since the agent would know how to deal with different types of customers. Thus, it is true that merchant account agents can earn good money. The amount of dedication you show will have a say in the results.
