The payments ecosystem continues to enlarge and become more complex. The merchant services industry is growing and undergoing changes along with it.Interestingly, though payment options are rapidly evolving, credit cards are still leading all the other payment methods available these days.
Credit Card Processing
According to a 2016 survey based on over 1.000 consumers’ answers, 40% percent preferred credit cards, 35% chose debit cards, and only 11%reported they were using cash.Consumers’ preference for credit cards grew by 5% over the same survey’s results from 2015, while debit cards results dropped by 6%.
Credit cards outcompete debit cards and PayPal when it comes to shopping online and using online travel sites. 42% of users feel credit cards are the safest when it comes to online purchases. Next, come PayPal (26%)and debit cards (12%).
Many people are interested in selling credit card processing with a reputable credit card processor in the field. These people very often wonder how much they can make in this position. Though it’s not easy to answer this question, top sales representatives of some respectable payment processing companies make more than $100.000 a year.
Working With a True Professional in the Field
To succeed as an agent, you should find a reputable payment processor to turn to. With the right specialists, you’ll be able to take advantage of the best ISO agent programs available these days. As a result, you can get access to a large customer base and enjoy a wide variety of progressive payment options. The true professionals in the field offer above average opportunities for clients and agents to help them enjoy bigger profits.
How is it possible to make over $100k a year? Every time you, as an agent, sign on a new client, you can earn up to $500 just for signing the deal. Moreover, you can earn a monthly bonus of up to $1.250. This way, you can put some money in your pocket right off the bat. However, you earn the real money when you sell credit card processing –residuals.
Residuals have to do with the following: each time a client runs a credit card through the merchant account, the processor makes a percentage of the sale, which can make up from a few pennies to a few dollars. The sales representative who brought the client can earn up to a 60% split of the mentioned income.
So, if you, as a sales representative, can bring 15 clientsevery month (less than 4 a week) at an average profit of $50 per client per month, after 12 months you can increaseyour monthly income to $9.000, which will account for $108.000 a year.
Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best ISO agent programs company, serving both traditional and high-risk Businesses.