Best Credit Card Processor to Work For: 2022

www.NorthAmericanBancard.pro

It is easy to become a credit card processor; just file some papers, set up a shop, and start charging high fees from the merchants. And if you are unlucky, you might start working for such companies as an agent and not earn to your full potential. So if you want to find the best merchant processing company with extremely lucrative offers for both the merchant and agent, then this guide is your best resource.

We will discuss why you need to be careful when choosing the service provider. Plus, we will also provide you details about the best credit card processing company to work for so you can start a merchant services business and see your profits soar. That being said, let’s get started:

Why Do You Need to Be Choosy About the Merchant Processing Company?

There are several issues that you can face with a credit card processor that can shut your business before it even starts. Here are a few problems agents face with many merchant credit card processors:

· Payment Delays: One of the leading problems that many agents who start a merchant services business face is that their credit card processing company holds payments for too long. Whether for security reasons or for lack of funds, the companies usually pay very late.

· Lack of Support: Many don’t have good agent support. If you need to inquire about something on an urgent basis, you will either have to wait, or you might not get connected even after several attempts.

· No System in Place: For many credit card processors, there is no robust system like a dashboard providing agents with insights to their progress, available funds, and active merchants. This puts a lid on the agent’s ability to improve by monitoring progress.

· Low Profitability: By selling merchant services, agents get commissions and bonuses; however, some merchant processors simply don’t pay very well. Agents get very low payments for the amount of work they put into bringing sales.

· No Attractions: In order to sell, you need to show some attractions to the merchants like upgraded processing software, low fees, and some starting out gifts, and so on. There are many merchant processors who don’t offer much, which can make it difficult for the agent to pitch the program to the merchants.

Now that you know what makes many credit card processing companies a bad choice, you need to become a credit card processor company’s agent that offers great benefits to both their agents and the merchants. One such company is the North American Bancard.

So What’s North American Bancard:

Unlike most of the credit card processing companies that offer ‘discounts’ on the credit card fees, North American Bancard diminishes the concept of fee altogether. That’s right; they help merchants avoid fees! Their mantra is simple but highly effective; they transfer all the fees to the customers that use a credit card facility.

For instance, if someone makes a transaction of $100, and the fee is 2.9%, then instead of the merchant paying $2.9, the customer’s card will be charged for that fee. Now there will already be signage explaining this policy, so the customers already expect to be charged.

It is fair to beneficial to the merchant and fair to the customer because the merchant can now enjoy higher profits while the customer pays a small fee for using the credit card option when they could use cash payment.

Why is North American Bancard the Best Credit Card Processing Company to Work For?

If you are looking for the best credit card processing company to work for, then you cannot go wrong with North American Bancard. They have been one of the trailblazers in the industry for nearly three decades and are backed by well-reputed banks. So let’s see what they have to offer to their merchants:

· Diverse Product Range: They offer a wide range of products fit for every kind of merchant. This means you will not have to turn down a potential sale just because you didn’t have the technology they were looking for. From EMV enabled terminals to POS systems and mobile card readers, they offer a range of products for all kinds of industries.

· Relations With Several Banks: One of the best parts of working with the North American Bancard Agent program is that they work with several banks such as Bancorp Bank, Pennsylvania, BMO Harris N.A, Illinois, and Wells Fargo Bank, California, etc. This allows them to work with all kinds of businesses, so you have a huge potential customer base to target.

· High-Risk Businesses: If your potential customer/merchant is in a high-risk industry like tobacco, they might’ve been rejected by other processors. However, NAB works with such businesses, so you have a whole new niche to target.

· Extremely Lucrative: North American Bancard offers a unique credit card processing solution where merchants offset the fee on to the customers, as we discussed above. So even if your potential merchant is already using a processing company, you can pitch them the one-in-a-lifetime opportunity to save 100% on their credit card processing fee; everybody likes higher profits!

· FREE Equipment: This is another benefit that NAB gives to the vendors, making it easier for you to pitch to all kinds of merchants. Upon signing up with NAB, the merchant can get a free POS terminal equipped with advanced software that is already programmed to adjust transaction fee in the customer’s bill. Plus, they also offer free signage to educate the customers.

· Excellent Profitability and Bonuses: As an agent, you will get a lot more than 50–70% in residual income. First, you will get a signup bonus that can go up to $20k based on your initial performance. Plus, you get a bonus on the profits generated in the starting months. Your earnings will be multiplied by 12 and can go up to $5000.

Miscellaneous Benefits:

· A straightforward dashboard to see everything from your profits to the number of active merchants and their stats

· Receive free training for the services you sell

· Free ready-made lead generation website to help you attract more merchants

· Several affordable medical benefits

· Multiple payment processing platforms including First Data, Global Payments, and the new EPX

· Up to $1 million funding for merchants

Parting Words:

Now that you know why North American Bancard is the best credit card processing company to work for, we suggest that you take a step towards selling merchant accounts and successfully start a merchant services businesses with NAB on your back.

Difference Between ISO (Independent Sales Organization) and Sales Agent

In this industry, you will often hear the words “merchant services agents,” “Member Service Providers,” and “Independent Sales Organizations” used in a similar context, as if all three of these things are the same. The truth is that these terms actually refer to distinct roles in the credit card processing business. If this seems confusing to you, don't worry; all of these terms will be explained in this article, as well as their relationships to the credit card associations. We will also go over how you might go about becoming a merchant services ISO or an MSP.

After we've sorted all of that out, we'll go over what the advantages and disadvantages are of working in the industry as each of these roles. Getting an idea ahead of time of what each of these entails will hopefully save you from making a lot of mistakes early on in your business ventures.

What Every Term Means - First of all, let's get everything perfectly clear by defining the terms that we've mentioned so far:

ISO (Independent Sales Organization) – This is basically the ISO credit card processor, the company that serves as the middle man between the credit card companies and the merchant. It will often provide terminals to the merchants, as well as tech support, training, and customer service. Another common term for this is “merchant service company.”

MSP (Member Service Provider) – ISO is a term often used by Visa, and so MSP is basically MasterCard's version of this. They both mean roughly the same thing. However, to make things a little more obscure, MasterCard also uses the term ISO, but it means something different. Basically, in their case, an ISO offers services that are not processing and transaction services, like customer service and lead generation. For our purposes, though, don't worry too much about these subtle distinctions. They are basically the same thing. For the sake of simplicity, let's just assume that we're including MSPs when we use the term “ISO” from now on.

Sales Agent – This role is completely different from the above mentioned roles. A merchant services agent is a third party that sells the services of merchant services ISOs and MSPs. Since merchant services companies often like to concentrate on processing credit cards and offering POS solutions, they will contract sales agents to find merchants to work with. A sales agent doesn't have to pay the high association fees like an merchant services ISO does, but he can't do business in his own name and have a merchant services ISO program with an ISO or MSP company.

What is the Relationship Between an ISO / MSP / Sales Agent and the Processing Banks? - You probably realize that merchant services ISOs are not banks, and that these organizations need banks to ultimately perform the transactions. Every merchant services ISO will need a sponsoring bank, one who is a member of Visa and MasterCard's respective associations. In practice, these banks will usually not take on small merchant service companies, and actually most merchant services ISOs use larger ISOs as intermediaries between them and the banks....... Read More

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HIGH RISK MERCHANT ACCOUNT PROVIDER - HOW TO BE A MERCHANT SERVICE AGENT - MERCHANT SERVICES SALES JOBS - BECOME A PAYMENT PROCESSOR - NORTH AMERICAN BANCARD AGENT PROGRAM - HOW TO START A PAYMENT PROCESSING COMPANY - BEST CREDIT CARD PROCESSING AGENT PROGRAMS - SELLING MERCHANT SERVICES - BECOME AN ISO MERCHANT SERVICES - BEST ISO AGENT PROGRAM - BEST ISO MERCHANT PROGRAM - HOW TO SELL MERCHANT SERVICES - HOW TO BECOME A REGISTERED ISO/MSP - MERCHANT SERVICES SALES TRAINING

Best Credit Card Processor to Work For: 2022

Difference Between ISO (Independent Sales Organization) and Sales Agent

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