Now that you know what a Merchant Service Program is, it’s time to find out how to become one. In the North American Bancard Agent Program, there are six stages that you will go through to become a merchant service provider.
Stage 1 Pick a specialtyStart by considering your previous experience and area and stay close to the field you know the most, be it sports, cooking, or teaching. But if you are just starting, then its recommended to take a look and see which business is doing well in your area.
Stage 2: Become a credit card processing masterOnce you know your specialty, it’s time to learn everything you can about credit cards starting from learning how transactions are processed, what’s issuing and acquiring and working your way up to complicated things like hardware understand the relation with industry.
Stage 3: Compare ISO and MSP programsThere are a huge number of ISO and MSP programs out there working in each specialty possible, and they all manage their associations with traders and dealers differently.
After finding your specialty, knowing the world of merchant services, and finding the best MSP, it’s time to apply!
Stage 4: Apply to your ideal program(s)
Stage 5: Gather and set up your business resourcesBefore you meet the client, here is a checklist you might want to have to look professional and give the impression that you are coming from a legit source.
- White papers
- Individual Website/Social Media
- Business Cards
- Bit by bit, account documentation procedures.
Stage 6: Begin selling!It’s time to deploy your marketing techniques in the field. Just remember to pay attention to details. If you are going with a higher pitch, justify it. If you are pitching with a low-rate, make sure you don’t get too low while negotiation.
Save time and start with an MSP that has your back, like North American.