Make HUGE Income Selling Merchant Services
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 businesses pay for each
transaction. However, if you come with your zero-fee solution, then who
wouldn’t get your services? Every business likes to make as much profit as it
can, which is why you will have a better chance of converting the merchants.
Besides the merchants, you will be making way more money
than you would’ve made when trying to reduce the merchant’s fee. Now you might
be thinking, what is this zero-fee merchant services reseller program? Well,
why not we explain it to you in detail and show you how it can increase your
income.
What is
Zero-Fee or Cash Discounting Solution?
Also known as the cash discounting program, the zero-fee
solution works wonders for both agents and merchants. With this method, you
will offset any fee paid by the merchants on to their customers. Since the fee
is usually in cents, each individual customer won’t mind paying it as they are
using the credit card facility. However, if the merchant pays this fee on every
transaction, then it can accumulate up to hundreds of dollars on a monthly
basis.
This advantage of the zero-fee solution is not just limited
to the merchants, as an agent, you can increase the fee charged on each
transaction and increase your profit. Since the merchant is not paying it from
his pocket, there shouldn’t be any problem in paying it. Let’s take an example
of how it will work.
As you probably know, when you become a merchant services agent, you split the profit that the company receives after processing a
transaction. Now the industry average of this ‘split’ between you and the
company is around 50%. So if the company charges a 2% fee on each transaction,
then let’s suppose on a transaction of $5, it gets $0.1. Now minus the
interchange fee of $0.03, it becomes $0.07. The 50% split will be $0.035.
However, if you work on the cash discounting model and
increase the processing fee to let’s say 4%, then you get $0.07 as your 50%
split. See, it’s a win-win situation because your merchant is not paying any
fee, but you are getting double of what agents get selling credit card
processing that reduces a few cents in the fee and doesn’t eliminate it
altogether.
Selling POS
Terminals:
Now we learned one way to become a merchant services agent
where you can make virtually double of what traditional credit card processing
program sellers make. There is another way to further increase your income, and
that is by selling or leasing POS terminals.
Since the merchants will be eager to work with you because
of the cash discount program, they won’t mind buying or renting your company’s
POS terminal as well. Paying a few hundred bucks to save credit card processing
fees for a lifetime is not a bad deal.
However, if any merchant doesn’t want to pay for the machine
upfront, you can always lease it to him. You can charge $20-$25 bucks a month,
and either share it with the processor or buy the machine and keep the rent to
yourself. Now depending on how many machines you can sell or lease, you can get
an additional bonus stream of income without putting in much work.
Types of
Businesses You Can Target:
Since we are discussing the career of selling merchant accounts, it is imperative that you know the kind of businesses you can easily
target by leveraging the power of the cash discount program. Virtually all
types of businesses will be happy to work with you if they are currently paying
fees for credit card transactions from their own pockets. We summarized all
types of businesses you can target in three categories.
Offering Services:
These are the pure service providers like an auto repair
shop. These businesses process thousands of dollars in the form of credit card
transactions, which means they will be shelling out hundreds of bucks in fees.
Now, if a typical merchant services reseller program visits them and tells them
that he will reduce a few cents in their fee, then there is a good chance they
might not leave their existing processor.
This is because they will have to go through the long
merchant account setup process again for just a few cents. However, if you tell
them to eliminate their fees, they will definitely consider your offer.
Offering Goods:
These are the businesses that purely sell physical goods
like a gift shop or a grocery store. These businesses also process a massive
amount of credit card transactions every month and likely pay hundreds of
dollars in fees.
You can pitch your zero-fee solution to them as well and get
them on board. Everyone likes to save as much as they can; they will too!
Offering Both:
There is another form of business that offers both the
physical products and the services. A restaurant is the best example of this. They
cook the food, which is the service, and then they sell it to customers, which
is a product.
These businesses also receive lots of customers on a monthly
basis, and most of them pay via credit card. You can offer the zero-fee
solution to them as well.
Let’s Work
the Numbers:
Now, if you think things through, you will come to know that
there is a lot of potential for you to sell a zero-fee solution. If you just
bring 10 merchants on board every month and each of them processes $1000 per
month and assuming you charge a 4% fee from them. Then it becomes 4% x $1000 = $40.
So your 50% split will be $20.
If you multiply this $20 by 10 merchants, then it becomes
$200 in monthly recurring income. If you manage to sign up a total of just 50
merchants in your first year, your second year’s income will be $1000 per
month. This way, you won’t have to worry about paying bills, and you can focus
on bringing more merchants onboard and increasing your income.
So Which
Career Will You Choose?
So now you know about the potential of zero-fee solution and
how it can literally double your income while also increasing the number of
merchants in your portfolio, the answer is obvious, right? The typical form of
merchant processing where an agent will offer lower fees than what a merchant
is already paying will only limit your earning potential.
With the help of this innovative zero-fee solution, you can
skyrocket your income and bring bags of money to your home. Now, of course, it
looks easy on paper, well on the screen, but you will still have to learn to be
a good salesman and perfect your pitch. We already have a detailed guide on
becoming a successful sales rep –add hyperlink to the article I wrote on it-,
which will help you learn the art of selling.
Now another potential problem that can arise is the
availability of a cash discounting program since not every processor offers
this benefit. So for that, we suggest that you explore the North American
Bancard merchant services reseller program as it offers the best cash discount
programs. They also have various bonuses that will further help you maximize
your earnings.
Over to
You:
The key to becoming successful selling merchant accounts is
knowing how to sell and have good profit for every sale. You can only sell well
if you have an unbeatable offer up your sleeve, and nobody can beat the
zero-fee solution unless they pay the merchant from their pockets.
Since you are offering an incredible opportunity for getting
rid of piles of processing fees, you will obviously have higher chances of
securing the sale.