Want to become a merchant services agent but don't know the basics of credit card processing sales training? Well, don't fret; we have an excellent guide dedicated to helping you UP your selling game. Once you know how to start selling merchant accounts (–hyperlink to the article' how to be a successful merchant services rep' that I wrote previously-), you just need to learn how to sell your services to potential merchants, and you will be ready to make a good career out of merchant services sales rep business. Excited? Let's dive right in:
10 Practical Tips for Credit Card Processing Sales Training:
1. Find a Professional Merchant Services Agent Program:
The fundamental and most crucial part of your merchant services sales training is finding a processor that you can have a long-term partnership with. Here are a few things to look for in a potential partner:
· Should provide reliable service to your merchants and should not charge unfair fees
· Should offer different benefits to the merchants like free signage or even some equipment
· Should have an excellent support system where you can quickly reach their sales reps if you have any questions or if there is an issue with the merchant that needs to be solved quickly
· Should offer you lucrative payment structure and bonuses
· Should offer you learning opportunities and various training materials so you can learn about the business and the product the best way
Knowing these things will help you find a partner that you can work with for the long term and grow your business without any problems in the future.
2. Keep 'Em Coming:
You need to keep your sales funnel flowing with potential clients. This means that you always need to keep your eyes peeled for any new potential merchants that you might be able to convert.
New businesses keep opening up all the time. So look for any new or old businesses within your target areas, reach out to them, educate them, and just help them out in any way you can without asking for anything in return.
You can educate them about the basics of the credit card processing system, EMV laws, and how they can become PCI compliant, etc. Sooner or later, they will come to you or refer their merchant friends to you.
3. Keep an Eye Out for Big Players:
While you are doing your best to keep your sales funnel flowing with potential small merchants, you also need to keep an eye out for the big fish in the market. A big contract is always better than several small ones.
Now we are not discouraging you or telling you to avoid the small ones altogether because they will be your main source of earning. However, every once in a while, big players pop up in the market as well.
Maybe a giant business is opening up branches in 10 locations throughout the city or state, and they might need the credit card processing services and terminals for all of them? Well, you can surely help them with that, can't you?
4. More Payment Options Means More Opportunities:
Another important part of the merchant services sales rep training is that you should provide your clients with more than one payment processing options. This means your payment processor should be connected with more than one credit card company like the North American Bancard agent program, which is connected with both First Data and Global Payments
And not just that, but the payment processor should also have multiple options for the transaction. They should not be limited to just over the counter POS terminal. Your merchants will be getting all kinds of customers who might not have a credit card at hand and may like to make payment via mobile app. So having a mobile payment option is also a plus as it would attract more merchants to work with you.
5. Provide Excellent Customer Service:
Whether it is a merchant sales services program or any other business, providing excellent customer support is one of the fundamental foundations that will keep your business flowing and your customers happy.
Since payment processing via terminals and other equipment is a bit tricky, your merchant would likely need you for the first few weeks or months before he gets the hang of it. Also, there can be some technical issues like the machine not accepting payments all of a sudden, or it might stop working.
So at that time, the merchant will contact you, and it is your job to nurture your relationship with him and solve the problems as soon as you can. Keep in mind that you don't just need to solve the problem of your merchant, but you also need to do it in a timely manner.
They have a Business to run, and they have payments to accept, so they cannot afford to wait for you to solve their issues when you feel like it. Since you are relying on the residual income coming from the merchant, you cannot afford to make him unhappy and leave you for another service provider.
6. Work On Your Reputation:
Another core element of the credit card processing sales training is that you need to constantly work on improving your reputation in the eyes of merchants. People don't really have a good perception of the sales reps as they think that all they want is to get their money.
You need to change their perspective about you and make them understand that you are not just after their money; you are there to build a long term relationship. And to do that, you should not persuade them.
You need to sell without selling. So whenever you are in the area of a specific merchant that you are trying to convert, just pop in, say 'hi,' ask if they need any help, and leave. You don't have to pitch every time you visit them.
They know that you are selling merchant accounts, so if you build your reputation as someone who has an interest in genuinely helping them, then they would sooner or later discuss business with you.
7. Leverage the Cash Discount Program:
Some of the leading processors, like the North American Bancard Agent Program, offer the best cash discount program. It is designed to help the merchant avoid transaction fees and literally bring them from hundreds of dollars on a monthly basis to an absolute zero.
They do this by offsetting the transaction fee to the customers. An individual customer might not have a problem paying a small sum of the transaction fee. But if the merchant is paying the fee for every customer that slides credit card from the terminal, then the merchant is at a loss of a few hundred dollars every month.
If you tell him that you can make all of this go away, then who would ignore this opportunity? Therefore, work with the processor that offers a cash discount program and use it to strengthen your pitch.
8. Offer Free Terminal:
Another benefit of working with a leading merchant services agent program is that they usually offer free equipment to merchants like the POS terminals. You can couple this with the cash discount strategy and make your merchant's jaw drop.
Plus, these offers strengthen your bond with the merchants because they are getting incredible value from you, which is literally unbeatable unless another processor comes with a better deal than a 0% transaction fee.
9. Follow Up At All Costs:
Your more time will be spent in following up with potential leads than nurturing your existing clients, and that's because getting a merchant to convert requires a lot of time, patience, and effort.
So once you have made your initial pitch, don't stop reaching out to them. You don't necessarily have to bombard them with messages asking about your offer.
Just casually ask about it whenever you get a chance. Otherwise, most of the time, just try to strengthen your relationship by talking about things other than merchant services unless the potential client wants to.
10. Help Them Understand The Contract:
You need to be completely transparent when it comes to discussing contracts. Your client might see that signing a contract means being bound for some time and not finding any escape if something goes south.
By being honest about the contract, fee structures, and other conditions right off the bat, you will gain the merchant's trust. This way, they will not feel very reluctant when signing the contract as they'll know you will be there for them whenever they need any help.
Over to You:
The key part of any credit card processing sales training is to be supportive and helpful to potential clients. They are not getting the product, they are getting you, and the product is something that comes along.
People want someone they can trust and rely on, if you can provide them with this, they won't take long to convert.
Popular posts from this blog
Do you want to become a merchant services agent but don’t know how to make a massive income selling credit card processing? Well, don’t fret, we will help you not only choose the best career in the merchant services field, but we will also help you understand how you can truly help your merchants save tons of money in fees while doubling your own income. If you are excited to know all of this then we suggest that you stick to this guide till the end: Which Career to Go For? When you are selling merchant accounts , there are different models that you can choose from. You can go for the typical model of trying to reduce the fee paid by merchants in credit card processing. Or, you can also try to eliminate this fee, yes you read it right, you can make it vanish. The latter one is a more attractive career option as there are more chances of earning a decent amount. Most of the agents selling credit card processing will be trying their level best to reduce the fees that bu
If you are an aspiring merchant services agent, then you should know that one of the most important keys to success in this field is the agent program that you work with. Choosing the right merchant services agent program provides you with the resources that you need to ensure that you have success and are able to be competitive when it comes time to start selling merchant services to your clients. The North American Bancard Agent Program is one of the best choices in the industry with premium services, a comprehensive suite of tools to help you succeed, and a history of helping agents have success in the merchant services industry. We’re here to give you all the information that you need when looking for a merchant services agent program and we’ll show you why North American Bancard is one of the best agent programs in the industry. What is a merchant services agent program? If you want to succeed in merchant services sales and as a merchant services agent, then you will need
Do you want to become a merchant services agent but don’t know which program to join? Well, then we can help you find one. We understand that you will have various questions in your mind, like do I really need to work with the best merchant sales partner program? Or, what are the benefits that a good merchant services partnerships program can offer? We will answer all of these queries and will also suggest the leading merchant services reseller program so you can kick start your career and make a decent income. With that said, let’s get started: Is It Really Necessary to Work with the Best Merchant Sales Partner Program? Yes, it is extremely crucial that you have the top merchant services reseller program working with you. There are many logical arguments that we can make here but to keep things short, we will only make three arguments, let’s see them below: · Merchant Satisfaction: You do not want to work with credit card processing agent programs with
Do you want to get more credit card processing leads but don’t know the best ways to get started? You have come to the right page! To generate more leads, there is a simple formula for guaranteed success i.e., spends time and involves greater investment. But investing money can’t generate leads unless you don’t know how to invest it in marketing approaches. Let’s find out together how to get merchant services lead generation . The problem in Credit Card Processing Service Industry for generating sales Some problems exist in setting the appointment and prospecting the selling merchant accounts . The credit card processing industry is overcalled, and merchants are swamped with calls for merchant services. Secondly, it is sad but true that most salespersons who call trying to find potential client, do it poorly and waste the time of merchants. Most of the sale scripts and sales pitches that are used in telemarketing are poor and almost
For any business owner, the payment processing fee is a big frustration. If you want to remove the impact of credit card payment processing costs on your business, the Edge cash discount program is for you. Here are some perks: Free equipment No customer receipts No contract commitment No monthly or annual costs What is the Edge Cash Discount Program? This merchant cash discount program works wonders for most POS solutions. The program also includes free POS equipment. It includes free edge cash discounting software and free signage that explains the program to your customers. The program eliminates: Statement cost Contract commitment Monthly/annual costs Batch header cost PCI compliance cost This program is a highly convenient way of rewarding your customers for paying with cash. When most of your customers are using the non-cash methods, of making payment, it’s difficult to keep track of the pricing of various credit card companies. Whatever it is, you
Payment processing is the most profitable business. That’s why most of the agents who want to learn about merchant services or start their own credit card processing company, step into this industry. The credit card has become a necessity these days, and people prefer to use it as a primary mode of payment than cash. On the other hand, a debit card is used for online payment. The number of credit and debit card users is growing exponentially. So, the demand for credit transaction processors becomes higher due to the high volume of transactions. The credit card processing companies play a key role in customer payment processing and merchant services. However, the payment processing industry is profitable, but you can’t deny the fact that it can be cut-throat. All you need to go head to head against your rivals. But how do you get started? Here’s how to become a merchant services agent ? How to become a credit card processor? If you want to become a credit card processor , you need
Merchant Services Agent ISO Program You'll receive 100% of commissions and 50-65% of residuals. As a Merchant Services Agent you will share income on every available revenue stream. With NAB, You Get a True Interchange Revenue Split. Unlike other merchant services ISO programs we do NOT charge 3 to 6 basis points off the top with a "Reserve Fee for Hidden Losses" or "BIN Sponsorship Fee." So you will earn more income with our 50/50 partnership, than you would with other processors who claim to offer a higher percentage because our transaction rates start at 0.0 basis points and just 1.5 cents per transaction over interchange and assessments. Top Reasons to Partner with NAB: 1. Free Equipment The best FREE TERMINAL program in the industry. At North American Bancard, we offer free terminals that are Apple Pay ready, EMV compliant that allow for tip-adjust. 2. Up to $20,000 Signing Bonus After you g