Best Credit Card Processing Reseller Program
Merchant services come with many lucrative benefits that make it one of the best sales industries, where everyone wants to try their luck. There is no wonder that many of us have realized its potential. But when it comes to merchant reselling services, there are many things that you need to explore before getting started. For instance, you need to know what reselling is, how to become a merchant account reseller, benefits of reselling, and how to choose the merchant services reseller program. North American Bancard Reseller and agent program is the best reseller program for merchant services out there. Do you want to pursue your career in merchant services reselling but know about the information you need for merchant services reselling? Do fret, we have got you covered. Read on to learn all about the credit card processing reseller program and start your journey.
What is the Cash Discount Program?
A Cash Discount program provides a discount to customers who pay with cash instead of using a card for payment. It means the customers pay less than the advertised sale price as they don’t use a credit card for payment. When the customer uses the credit card for payment, then the merchant needs to pay a processing fee for each transaction. That’s why they charge 4% more when the customer pays with a credit card. On the other hand, the merchant offers a discount on the menu price when the customer pays with cash. For example, if the customer chooses the item with a $10 menu price but the merchant offers a discount on the menu price up to 3% when he pays with cash-means, he will pay $9.70 instead of $10.
What are merchant services reselling?
If you want to become a merchant services reseller, first off, you should know what it is all about and which is merchant services and credit card processing reseller program. Merchant services are essential for payment processing and doing business- means every business owner need merchant services to function. The merchant services reselling industry is a very competitive industry. However, success comes with the more passive income, residual for the lifetime, and some additional perks that can make anyone’s life. That’s why most people have a dream to become a merchant services agent.
In the merchant services reselling, a company or agent works as the intermediary between the merchant services and the business owners. The merchant services agent sells the services to the merchants, sources them from the provider at low rates, and earns profits for those that resell these services.
How it works:
When you resell the merchant services, you will get the buy rate that you offer to the merchants to sell your services. It should be lower so that you can make more sales. In short, it is your cost e.g.; the good buy rate is normally 2.00% + 20¢. It means you can resell the services to your customers at 2.25% + 25¢. So if the merchant gets the credit card sale for $100, they will pay $2.25 to the payment processing company. You will get the 30¢ for this transaction. It may seem like a passive income, but you can earn $10,000 with up to thirsty five transactions in a month. The good thing is that you will make $26.75 without doing anything. Isn’t that cool? All you need to get a good merchant and enjoy the frequent revenue stream.
How programs are set up
Here we will discuss how you can set up the reseller, merchant services reseller program:
Buy Rate — The buy rate is the key thing in the reselling merchant services because the lower they are, the easier to make more sales. As mentioned above, the good buy rate is 2.00% + 20¢ for ecommerce. It would be the best buyer rates, so use them for comparing the rates.
Processing Statements — If you want to make money in Merchant Services Sales, the processing statement is a good thing. You can make money off of the processing statement of your merchant. For instance, the highest buy rate that you should accept is $5. Most of the processing statements of the merchants run them $10 in a month. It means if you get the highest but rate i.e., $5, you can charge $10 for the merchant processing statement. It is an easy way to earn $5.
Monthly Minimum — The monthly minimum is optional, which is the fee when your merchant doesn’t process the required volume in a month. If he doesn’t process enough, you can charge them the monthly minimum with their payment processing fee. The merchant should generate $10 in the processing fees.
Annual/Membership Fees — The annual fee or membership fee is a viable form of revenue. The merchant needs to pay the setup fee for their merchant account every year. The best thing is that you can get 100% of the annual fee like a minimum fee. You don’t have to share it with the merchant service provider or bank.
Other Fees — you shouldn’t give the setup fees. If you are the Credit Card Processing Sales agent, you are bringing more accounts for the reselling merchant services providers. You can charge the fees for setting up an account if you want to.
Equipment/Gateways — You can use any gateways that you like, but if you resell North American Bancard, you can make huge bucks from their gateway. Visit their site for more info.
What should you look for in a merchant services reseller program?
If you want to become a successful Merchant Account Reseller, choose the trustworthy merchant services reseller program and work with them. Choosing the best reseller program comes with plenty of benefits that are listed below:
The merchant services ISO wants to work with the best MSRP (merchant services reseller program) that offer the timely payouts. If you are not receiving the high streams of revenue, then it is not lucrative for you. So it is necessary to choose the best merchant services company like North American Bancard to partner with because it offers accurate payouts.
If you want to get success as a merchant services agent, always work with the partner that has the best business tools such as literature, marketing materials to bring in high streams of payments and reliable clients. North American Bancard has the best business tools to provide the resources that reseller agents need to achieve success.
Do you want to step in the field of merchant services and want to achieve success in no time? So don’t forget to verify the reputation of your merchant services reseller program keeps. It is essential to work with a program that has a good reputation and trust among the merchants to achieve success in your business.