Have you been looking to become a merchant services agent but don't know how to go about finding the right sales partnership? I have put together this post to help merchant services agents find the right place to become a merchant services sales agent.
If you go online and search "how to become a merchant services agent" you will see hundreds of credit card processing companies telling you why they are the best place to work for and list of reasons. The truth is there are only a few good companies you can trust to work with. If you choose the wrong merchant services provider you could be getting ripped off on your upfront commissions, residual income and simply get treated badly.
Typically the companies (not Norh American Bancard Agent Program) you need to watch out for are the ones that set appointments for you to go to and also have the merchants sign up for leased equipment on a non-cancel-able contracts for 4 years. As an example I talked with a merchant services agent that was working with one of these companies here locally in Portland, OR. The merchant services agent called looking for a better merchant services ISO program because she had merchants that have been ripped off by the company she placed her current merchants with. This bad credit card processing company had set up the merchant with a lease on a credit card terminal for $129.00 per month for 4 years. If you do the math on this the merchant pays $6192.00 for a terminal that is worth maybe $300.00. On top of this they promise huge savings but when the merchant gets their first statement they see that it has not saved them anything and has cost them even more money, plus they are now stuck in a 4 year contract at $129.00 per month (Typical Bait and Switch). So bottom line if a merchant services provider says they will have pre-set appointments for you, run away as quickly as possible.
When I started as a merchant services agent 10 years ago I began working with these types of credit card processing companies. I quickly learned that is was a scam to the merchant and began looking at other merchant services providers. I found 3 great merchant services providers that I was looking at becoming a merchant services agent with. The three companies are North American Bancard, Total Merchant Services, and Harbortouch formally known as United Bank Card. They're all great companies and I would still recommend all of them today. For me North American Bancard had the most benefits that fit my needs as a new merchant services agent.
Here is the breakdown of why you should choose North American Bancard Agent Program for you sales partner. NAB started in 1992 as a small company with under 10 employees. Today NAB has over 700 employees and processes well over 15 million dollars annually with over 300,000 merchant in their portfolio. NAB gained this success mainly through the merchant services agent channel and simply taking good care of their people. NAB is a A+ BBB rated company and you can rest assured that they take care of merchants better then any other credit card processor out there. From huge signing bonus to the best buy rates in the industry (1.5 cents) NAB has what it takes to help you grow your merchant portfolio beyond your dreams. If you bring on 30 (50) merchants in your first 90 days as a merchant services agent with NAB you will get a $3000 signing bonus (updated: $5000) on top of your regular bonuses. You will get $200-$1000 upfront per account depending on the monthly sales volume of that merchant plus a 50/50 residual split. This a true residual split so you will make more residual income with NAB compared to other companies that mark the floor cost up and take more of your hard earned residual check.
Summery: Bottom line is if you want to become a merchant services agent simply go to North American Bancard and sign up for the merchant services ISO program today to start your career as merchant services agent on the right track. Stay away from companies that set appointment for many reasons but bottom line is you and the merchant will get ripped off while the owners of the company laugh all the way to the bank.