Selling Credit Card Processing and Merchant Services | Overview
Selling credit card processing can be lucrative, but it also comes with some potential pitfalls. Going into it you need to be aware of them before considering taking on this as your next career. As for why you might want to get into selling merchant services that is the obvious part. All companies, great and small, need to be able to process credit card payments and other forms of payments quickly and easily. In today’s market, few people pay with dollars and cents anymore. Instead, there are a whole host of electronic monies that are increasingly used and are being diversified. Further, businesses, even those with their own accounting departments, tend to not handle transactions. Instead, those are left to separate companies equipped to handle the thousands of deals that can occur on a daily basis in some areas. Because they do not handle such things, those outlets that do rightly take a percentage of each sale, and that is where you come in as a perspective vendor of credit card processing and merchant services. All you need to be able to get started in this career is a phone, car, gas money, and the desire to make connections with a variety of different business owners.
One of the more daunting aspects of this career, however, is the number of times you will face rejection. Selling credit card processing and merchant services is not to different from being a door-to-door salesperson. Not everyone is going to have time for you, no matter how much you might be able to benefit his or her company. People have a company to run, and particularly for the smaller ones, they might have a hand in the day-to-day operations. Therefore when you come strolling into there place of business with your pitch all ready, they will not give you the time of day. This is understandable. At the same time, there are those at there who are simply predisposed towards not liking salespeople. You could be the friendliest person in the world, but some will view you as pushy or a nuisance solely based on your chosen profession. However, if you can stick to it and not let a few no’s get you down, you might be able to crack even the most stubborn potential client, not to mention those who might be more accepting of what you have to say.
Having said all this, one of the benefits of doing this for a living are the connections you get to develop with people. The key part of this has to do with merchant services. First and foremost you are selling them on credit card and other electronic payment processing. However, the relationship does not end there when you have made your sale and walk out the door. Because they are dealing with digital transactions in a digital age, unless they are certified computer whizzes themselves (not that you need to be one either), they will likely need assistance from time-to-time. This includes maintaining their machinery, verify successful transactions, or even swapping out equipment. Though your clients will sign contracts guaranteeing their patronage for a certain period of time, at the end they will be free to take their business elsewhere. They will do so unless you find a way of keeping them happy. If you are able to keep them satisfied with the services you provide, they will likely remain loyal customers for the foreseeable future.
There are a few added fringe benefits of keeping satisfied those you sell credit card processing to, and this pertains to networking. The majority of companies out there fit within the category of small businesses. As such, many of them network with each other in a variety of ways, either through chambers of commerce, being next door to one another in a shopping area, or simply by word of mouth. Further, many of these owners could run a number of other businesses of similar size. If they feel you are doing a good job for them in one place, then it should inspire the confidence to extend your services to all their endeavors. This means continued growth for your own business with far less initial work to be done on your part.
Putting forth that initial effort, therefore, can make all the difference. It will allow you to have your finger in many different pots, drawing residuals off of sales from many different pots. Having multiple sources of money coming in through your accounts can only be a good thing. As long as you stick with the business maintain good relations with your clients, and the company you sell credit card processing and merchant services to stays open, you will continue to draw percentages off of their transactions. In other words, this is like a long-term investment that has the potential to grow exponentially. That is not a bad deal from a job that, like any other place you might work, you are expected to put in a regular forty hour work week. And you are able to set your schedule to best suit your needs. Since many of the people you will be catering to like to have weekends off as well as you, then the chances are good that you will be able to take your come Friday afternoon.
Selling credit card processing and merchant services is designed for the kind of person who has a can-do spirit. They also need the discipline to be able to get up in the morning and go out and convince a potentially hostile client base to sign up for your services. This is no mean feat. However, if you feel like you are able to do these things, the potential rewards are great. As time goes on, your business will become like a well-oiled machine that you will only need to inject a few more sales into here and there once in a while. And it is one that will always be in demand so long as the market place continues to evolve.