Become a Skilled Expert at Selling Point of Sale Systems and Terminals

Learn How to Sell Point of Sale (POS) Systems

One of the most important pieces of equipment for any merchant is their point-of-sale system. As the location through which every transaction that the business takes in goes through, it is important that every merchant have access to a point-of-sale system that is robust, scalable, and has all the functionality that is needed. However, convincing a merchant that they need a POS isn’t the hard part--this is a known fact. Convincing a merchant that your POS is the right choice, however, can be very difficult. To help you get well on your way to selling point of sale systems as a merchant services agent and helping merchants realize the power of a good POS, we present to you 6 actionable tips that you can take into consideration and implement to help sell POS systems.

Why is finding the right POS system important for businesses?

If you have been working with merchants for long, then you already know how important POS systems are to businesses. With this knowledge, it is easy to understand why so much importance is placed on the process of selecting a POS system and utilizing it to its full potential. Each business is unique and while all businesses have the same basic need to facilitate payments, the best way to do so will vary by the business.

For merchants, finding the right POS system is absolutely essential because it will ultimately help to determine what a merchant can achieve with its POS system and whether they will have any limitations. In an ideal situation, the POS system that a merchant selects will not have any negative impact on their business and instead will serve as a reliable addition to their suite of technology that they use in their business on a daily basis.

Be an expert

If you are looking to convince a merchant that they need your POS system, then one of the first things that you will need to do is establish yourself as an expert and a person of authority when it comes to POS systems. This can be done in a variety of ways, but what a merchant really wants is to feel comfortable that you know what you are talking about and you know everything that there is to know about the POS system that you are offering.

If you are hoping to make a great impression on your prospective merchant, then make sure you familiarize yourself with your POS system as much as possible so that you can easily answer any questions that they have about your POS systems and their functionality. With the ability to answer any question that comes your way regarding your POS system, the merchant is far more likely to trust you and find you in a favorable light, which could lead to a purchase.

Nurture a relationship

The next very important part of the process if you want to have success with selling merchant services and selling POS systems is nurturing the relationship between the merchant and the agent. There are a variety of ways that this can be done, as well. You must remember that each merchant is unique and is going to require varying levels of customer service and support.

One of the first ways that you can nurture a relationship with a merchant is to get to know them and their business personally. Not only will this make them feel valued and heard, but it will also give you much more knowledge of their areas of need so that you can address them most completely, earn trust, and ensure that your POS system fits the needs and requirements of the merchant you are working with.

With these things in mind, your merchant should be kept happy and satisfied.

Address areas of need

If you truly want to satisfy your merchants and make sure that they are taken care of and are more willing to purchase from you again, then you need to make sure that you are meeting their needs. You should start each relationship with a full audit of what your merchant needs and make a plan for how you can address it.

With this fuel at your disposal, you can approach negotiations from a position of power and understanding to increase your chance of closing the sale and making your merchant confident that you can handle their needs effectively.

Stress versatility

There are a few properties that merchants look for automatically in a POS system. One of the most important of these is versatility. Many merchants deal with a wide variety of transactions, promotions, discounts, coupons, and other functionalities. With a POS system that provides all of these things, their business will be enabled to operate at its fullest potential. If you need to communicate all the benefits of your POS system, be sure to touch on all the versatility that it has to offer and how it can help the merchant achieve a wide range of goals.

Include services

If you want to entice your merchant to sign on with your POS, then there are a few things that you should be able to throw in without breaking the bank. For example, you could throw in maintenance and upgrades for free as an extra benefit to the POS system. This is just one example of a classic sales technique.

If you have a merchant that is on the fence about investing in a new POS system, be sure to make it known that there could be additional benefits to be had by signing on with your POS system.

Always follow through

In sales, you never want to promise or lead someone to believe something that might not come true. That is because as a merchant services representative, you want to be seen as someone that follows through on the promises and assurances that you make. Without your reputation for upholding the truth and following through on the promises that you make, you will find that it’s hard to keep a merchant signed on with your POS system.

Always be upfront about the capabilities of the POS system that you are selling as well as the potential limitations that it has. With this honesty in mind and a respect for the merchant, you are bound to have more success than if you were to try and hide the limitations of your POS system.

North American Bancard Agent Program is your premire merchant services sale partner to support you as a merchant services sale rep. Contact us today to get more detailes an start your merchant services business with us today!

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In today's digital economy, credit card processing is a vital service that enables businesses to accept payments from customers. Merchant services ISO programs play a crucial role in facilitating these transactions by providing companies with the tools and resources they need to process credit card payments efficiently and securely. In this comprehensive guide, we will explore what merchant services ISO programs are, how to become a registered ISO, the benefits of white label credit card processing for starting a credit card processing company, how to become a payment processor, and how to sell credit card processing services to small businesses.

What is a Merchant Services ISO Program?

A Merchant Services ISO (Independent Sales Organization) program is a partnership between a merchant services provider and independent sales agents or companies that sell credit card processing services to businesses. ISOs act as intermediaries between businesses and payment processors, helping merchants set up merchant accounts and process credit card payments.

Key points about Merchant Services ISO Programs:

- ISOs provide businesses with the tools and technology they need to securely process credit card payments.
- ISOs typically earn revenue through merchant account fees, transaction fees, and other service charges.
- ISOs are responsible for managing merchant relationships, providing customer support, and ensuring compliance with payment card industry regulations.

How to Become a Registered ISO?

Becoming a registered ISO involves establishing a formal partnership with a payment processor or acquiring bank that allows you to offer credit card processing services to merchants. Here are the steps to become a registered ISO:

1. Research the Merchant Services Industry: Familiarize yourself with the merchant services industry and the requirements for becoming a registered ISO.
2. Establish a Business Entity: Register your business as a legal entity, such as a corporation or LLC, to conduct merchant services operations.
3. Partner with a Payment Processor: Establish a partnership with a payment processor or acquiring bank that will underwrite your merchant accounts and provide you with the necessary technology and support.
4. Obtain Necessary Licenses and Registrations: Obtain any required licenses or registrations to operate as a merchant services provider in your jurisdiction.
5. Develop Sales and Marketing Strategies: Create a plan for acquiring merchant clients and selling credit card processing services to businesses.
6. Train Your Sales Team: Provide training to your sales agents or employees on how to sell credit card processing services and comply with industry regulations.

Benefits of White Label Credit Card Processing for Starting a Credit Card Processing Company

White label credit card processing allows you to offer payment processing services under your brand without the need to develop your own technology or infrastructure. Here are some benefits of white label credit card processing for starting a credit card processing company:

- Branding Opportunities: White labeling allows you to build brand recognition and loyalty among merchants by offering credit card processing services under your own brand.
- Cost-Efficiency: White label solutions typically involve lower upfront costs and operational expenses than developing your own payment processing platform.
- Faster Time-to-Market: By white labeling a credit card processing solution, you can enter the market quickly and start serving merchants without the need for extensive development or testing.
- Scalability: White label credit card processing solutions can be easily scaled to accommodate the needs of growing businesses and handle higher transaction volumes.
- Technical Support: White label providers often offer technical support and assistance with integrating payment processing services into your existing systems.

How to Become a Payment Processor

Becoming a payment processor involves establishing the infrastructure and partnerships necessary to process credit card payments on behalf of merchants. Here are the steps to become a payment processor:

1. Partner with an Acquiring Bank: Establish a partnership with an acquiring bank that will underwrite your merchant accounts and provide you with the necessary network connections to process transactions.
2. Develop Payment Processing Technology: Build or license the technology needed to process credit card payments securely and efficiently.
3. Obtain Industry Certifications: Obtain any necessary certifications, such as Payment Card Industry Data Security Standard (PCI DSS) compliance, to ensure the security of payment transactions.
4. Secure Merchant Clients: Acquire merchant clients by offering competitive rates, excellent customer service, and reliable payment processing solutions.
5. Provide Technical Support: Offer technical support to merchants to ensure smooth transaction processing and resolve any issues that may arise.
6. Stay Compliant: Stay informed about industry regulations and compliance requirements to ensure that your payment processing operations adhere to legal standards.

How to Sell Credit Card Processing Services to Small Businesses

Selling credit card processing services to small businesses requires a proactive sales approach, strong customer service skills, and a thorough understanding of the merchant services industry. Here are some tips on how to sell credit card processing services to small businesses:

1. Identify Target Markets: Identify the industries and types of businesses that are most likely to benefit from credit card processing services, such as retail stores, restaurants, and e-commerce businesses.
2. Offer Competitive Rates: Provide merchants with competitive rates and transparent pricing to attract their business and differentiate yourself from competitors.
3. Provide Value-Added Services: Offer value-added services, such as payment gateway integration, fraud prevention tools, and reporting analytics, to help businesses improve their payment processing operations.
4. Build Relationships: Build strong relationships with merchants by providing excellent customer service, personalized support, and proactive communication.
5. Educate Merchants: Educate merchants about the benefits of credit card processing, including increased sales, improved cash flow, and enhanced customer satisfaction.
6. Stay Competitive: Stay informed about industry trends, competitor offerings, and new technology innovations to offer merchants the most up-to-date payment processing solutions.

In conclusion, becoming a registered ISO and starting a merchant processing company can be a rewarding and lucrative business venture. By understanding the merchant services industry, partnering with reputable payment processors, offering white label credit card processing solutions, and effectively selling credit card processing services to small businesses, you can build a successful payment processing business and help businesses thrive in today's digital economy.

Differentiating Your Payment Processing Company: Targeting High-Risk Merchants for Increased Profitability

In the ever-evolving world of e-commerce, standing out from the crowd can be a daunting task. However, by strategically focusing on high-risk merchants, your company can tap into a niche market with tremendous potential for growth and profitability. We understand that venturing into this territory may seem challenging, but rest assured, we are here to guide you towards success. With our proven strategies, industry expertise, and a confident approach, we will show you how to navigate the complexities of high-risk merchant accounts, mitigate risks, and maximize your profits. Get ready to revolutionize your payment processing business and carve a unique path in the industry!

Understanding the High-Risk Merchant Market 

To successfully start a credit card processing business, one must possess a comprehensive knowledge of the high-risk merchant market. This particular market consists of businesses that present a higher possibility of chargebacks and fraud compared to others. To effectively cater to these businesses, it is crucial to understand the specific services required and how they should be delivered. When it comes to selling merchant services, a confident approach is necessary. By demonstrating expertise in the high-risk merchant market and its unique demands, potential clients will be more inclined to trust and collaborate with your credit card processing business.

When starting a credit card processing business, one must have a comprehensive understanding of various industries that fall under the high-risk category. These industries include adult entertainment, travel services, gambling, and cryptocurrency companies. By familiarizing yourself with these specific sectors, you can effectively tailor your payment processing services to cater to their unique needs. This knowledge equips you with the necessary tools to ensure that your business offers the right solutions for these merchants, positioning you as a reliable and trustworthy partner within the industry. By confidently providing services that are specifically designed for high-risk businesses, you can establish yourself as an expert in the field and forge long-lasting partnerships with clients in these sectors.

Furthermore, in order to successfully start a credit card processing business, it is imperative to have a comprehensive understanding of how different payment processors handle high-risk merchants. By conducting thorough research and identifying which processors specialize in assisting high-risk merchants in obtaining approval for credit card processing services, you can guarantee that you are offering the utmost level of service to your clients. This knowledge will not only allow you to cater to the unique needs of high-risk merchants but also demonstrate your expertise and confidence in navigating the complex world of credit card processing. By staying up to date with the latest industry trends and understanding the intricacies of high-risk merchant accounts, you can position yourself as a reliable and trusted partner for businesses seeking credit card processing solutions.

Benefits of Targeting High-Risk Merchants 

If you're looking to start a credit card processing company, targeting high-risk merchants can be a lucrative strategy. One of the major benefits of focusing on these types of merchants is that they are often willing to pay higher processing fees. This means that by offering merchant services to high-risk businesses, you can increase your profitability. High-risk merchants understand the value of reliable and secure payment processing, and they are willing to invest in it. By positioning your business as a trusted provider of merchant services, you can confidently approach high-risk merchants and offer them a solution that meets their needs. So, if you're wondering how to sell merchant services, consider targeting high-risk merchants and capitalize on the opportunity to earn higher processing fees while helping these businesses thrive.

Next, starting a payment processing business allows you to tap into the underserved market of high-risk merchants, providing you with a unique advantage. With fewer competitors in this space, you have the opportunity to establish strong relationships with new customers who are in need of reliable payment processing services. By offering a solution tailored to their specific needs, you can position yourself as a trusted partner, gaining their loyalty and earning their business. This lack of competition, combined with the growing demand for payment processing services, gives you a confident edge in the market as you embark on this exciting entrepreneurial journey.

Strategies for Successfully Onboarding High-Risk Merchants 

One successful strategy for credit card processing agents looking to start a merchant processing business is to prioritize onboarding high-risk merchants. A crucial step in this process is ensuring that all relevant compliance requirements are met. To effectively manage the risks associated with high-risk merchants, it is necessary to diligently verify their identities and ensure that all required documentation is in order. By doing so, credit card processing agents can confidently establish a solid foundation for their business, complying with necessary regulations and mitigating potential risks.

All in all, starting a merchant processing business requires a careful assessment of each merchant's product or service to determine its risk profile and ensure effective risk management. By thoroughly evaluating merchants and setting specific criteria for onboarded merchants, the potential risks can be mitigated and success can be guaranteed. It is crucial to understand how to sell merchant services in a confident manner, as this knowledge will enable the business to navigate the complexities of the industry and establish long-term relationships with reliable and trustworthy merchants. By implementing these strategies, a credit card processing business can position itself as a trusted provider, driving growth and building a solid reputation in the market.

Establishing a Robust Payment Processing Infrastructure

When starting a payment processing company, it is crucial to establish a strong payment processing infrastructure. This requires thorough research to identify the ideal fit for merchant services, including a reliable point of sale system. Selling payment processing services necessitates confidence in the chosen infrastructure, as it serves as the backbone of any transaction. By conducting comprehensive research, one can ensure that they are equipped with the most optimal payment processing solution, providing seamless convenience and security to merchants and their customers.

Finally, to successfully start a credit card processing company, it is essential to partner with a payment processor that prioritizes the safety and security of customer data. By collaborating with a payment processor that offers fraud prevention services and secure transaction processing, you can assure your customers that their information is protected. This not only instills confidence in your clients but also establishes your company as a reliable and trustworthy business in the credit card processing industry. By considering these factors and investing in the right partnerships, you can confidently embark on your journey to becoming a credit card processing company and provide top-notch services to your clients.

In conclusion, targeting high-risk merchants for increased profitability is not an easy task, but with our guidance and expertise, success is within reach. By focusing on this niche market and implementing our proven strategies, your payment processing company can navigate the complexities of high-risk merchant accounts, mitigate risks, and maximize profits. Get ready to revolutionize your business and carve a unique path in the industry. We have the confidence to lead you towards prosperity, so let's embark on this journey together and make your company a standout success in the market.

Have Questions? 

Contact Shaw Merchant Group at (855) 200-8080

© Shaw Merchant Group is a registered DBA of EPX, a registered ISO of BMO Harris Bank N.A., Chicago, IL, Fresno First Bank, Fresno, CA, and Citizens Bank N.A., Providence, RI.