It is always very exciting and good to start a career in merchant services or credit card processing. This industry has a very growing market and also offers you endless benefits and bonuses such as Residual Payments, etc. But one of the most important key points is that you should always have proper guidance and good training in order to become a leading Credit Card Processing Agent. Though being a very lucrative industry, it is very complicated and the prices make it further complicated. Unless you have proper training, it would be very tough for you to become a good Merchant services Agent, and keeping that in mind, the below points would surely help you out.
Features of a Good Merchant Services Agent Program:
- It should be informative based on the terms of Industry-
A good program should not only be theoretical but also provide adequate practical training to the agents so that they get accustomed to the POS Systems and EMV Compliant Terminals. Secondly, the pieces of training should always include all the Important Terms such as PCI Compliance, Basis Points, and Interchange.
- Proper training on Pricing-
One of the most important features, proper training on pricing would be highly helpful. As mentioned above, the prices are notoriously complex, and therefore a proper training would help the agents selling Merchant Services to be 100% transparent while selling Merchant Accounts.
- List of Key Benefits to be offered to the clients-
Once an Agent is through with the above-mentioned points, there should be a list of key activities to be offered to the merchant in order to convert him from a lead or a potential client. A few important key benefits that can ensure the conversion are Free Online Reporting and Customized Processing Solutions.
- Proper guideline related to the Sales Process-
Though every merchant service provider has a set of sales process for every Credit Card Processing Agent to follow, but it is a very important step by step breakdown of the sales process pertaining to the commonly faced challenges. This would also help to strengthen the relationship between the agents and their clients.
- Maintaining Transparency related to Residuals and Commission-
Lastly, a good Merchant Service Agent Program should always be 100% transparent whenever it comes to the commission and residuals. They should always clearly inform the agents each and every information related to commission such as if they would be paid the residual payments and if it is so, then the percentage entitled for the agent should also be mentioned. Secondly, the agents should also be updated if the upfront commission, etc. along with the percentage involved as well. Lastly, they should be provided with a sample of the Commission Statement so that they get a rough idea regarding the same and they should also be taught how to handle the questions related to the agent commissions.
Lastly, though many service providers offer such programs, but you should always enroll yourself with the one having certification from North American Bancard Agent Program. They are the ones who would surely teach you to provide unique solutions to all types of merchants.