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How to become a merchant service provider?

Merchant Services Agent Program (MSAP) connects banks and retailers and makes the client shopping experience much easier. MSAP allows business owners to accept debit cards and credit cards as legal forms of tender. For this purpose, an application from the business owner is submitted. It is processed considering factors like business viability and credit history, etc. if the application gets approved, the business owner is provided access to POS terminals and equipment to process the payments.

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 specialty

Start 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 master

Once 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 programs

There 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.


Stage 4: Apply to your ideal program(s)

After finding your specialty, knowing the world of merchant services, and finding the best MSP, it’s time to apply!

Stage 5: Gather and set up your business resources

Before 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.
 

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.