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Shaw Merchant Group
Saturday, February 03 2024
How to Sell Merchant Services Over the Phone

If you have been in sales for long, then you know what it is like to try to sell software and other solutions over the phone. It’s a tough industry and job that requires hard work, patience, and a winning formula. Calling someone is easy--convincing them to stay on the line is hard. If you are in merchant services sales and want to increase your phone sales and your overall revenue, then this short guide is a must have. In this short tutorial, we will cover some of the key tips to having success in merchant services and conducting merchant services sales over the phone with maximum optimization and earnings potential.

Difficulty of selling merchant services over the phone

When you think of selling merchant services over the phone, your mind might automatically turn to just setting appointments, touching base, and otherwise communicating with the potential customer over the phone. However, that’s not all that selling merchant services over the phone entails. Actually selling merchant services over the phone consists of every step of the process including consultation, implementation, and even signing the contracts. This all occurs from a remote location.

While this makes the business model somewhat convenient, it also makes having success in phone sales extremely difficult. In traditional sales, you have the opportunity to interface with your clients directly and speak with them. With phone sales, however, you will have to do all of this over the phone and digitally. The barrier is greater, and that is why so many fail when they don’t have a plan to address these issues.

However, it doesn’t mean that selling merchant services over the phone is impossible. Actually, hundreds of reps all over the country have success selling these services over the phone on a daily basis. Those with a good plan, sales skills, and some experience interacting with clients over the phone most definitely have a path to success.

Who isn’t right for selling merchant services over the phone?

Since you want to have success and selling merchant services over the phone takes a specific skill set, there are some merchant services agents that should avoid having to sell merchant services over the phone if possible. For beginners, it’s a good idea to get an in-person meeting when possible. Here are some of the characteristics that might make it difficult to succeed when selling merchant services over the phone.

Low experience with phone sales

If you are an individual that has little or no experience with selling merchant services over the phone, then some practice beforehand would be helpful. Selling merchant services can be difficult, and selling anything over the phone can be difficult. Together, they make for an increasingly difficult combination. Having success in merchant services over phone sales is entirely possible, but it is an ideal situation for those that at least have a bit of experience with selling over the phone.

No supply of leads

Selling without a good supply of leads is difficult for any industry, let alone merchant services. If you are going to sell over the phone, then you need to make sure that you have enough information to go off of. With a steady supply of leads that contain the information you need to make the sale, you will increase the chances of your success drastically. You should always make sure that you have a steady pipeline of leads before you begin your foray into merchant services phone sales.

Tips for success in phone merchant services sales

Now that that is out of the way, we can give you some actionable tips for having success with merchant services sales over the phone and giving yourself a leg up on the competition. Here are some of the most actionable tips and actions that you can take to have more success in phone merchant services sales.

Have a basis for the call

If you’re going to call a merchant looking to talk about how you can provide them a service, it’s best that you have a good reason for the call. If a merchant believes that you are only calling to sell them something that they don’t need, then they aren’t going to hang around on the call for very long and they will be immediately defense. However, if you can let them know that you have a solution for their problems or you are taking notice of an issue that they are having, you are much more likely to have success in converting them to a customer. Always make sure that you have a reason to be calling your merchant, otherwise they may believe that you are not worth their time.

Get to your value proposition early

If you do manage to get on the phone with a merchant, one of the most important things that you can do is to get to your value proposition early. Merchants especially have very little patience for people calling them to sell credit card processing products and services, since they get it so much. So, it’s helpful if you are able to show them right away that you have actual value and benefits to offer instead of just trying to make a sale. If you can make your point and show why you are valuable very early on in the process, the merchant is much more likely to be receptive to your pitch for a longer period of time.

Keep your merchant on the phone

It’s very important to keep your merchant on the phone for as long as possible. The longer that you are able to keep your merchant on the phone, the greater the chance that you have at converting your merchant into a customer. That’s not to say that you should keep them on the phone without regard to their needs. You should ask questions and start conversations that lead the merchant to simultaneously stay on the phone longer and learn more about the services that you have to offer. When you are conducting phone sales with a merchant, be sure to do your best to have a lengthy conversation with them so that they can become more familiar with you and start thinking of you as a business partner instead of a salesperson.

Take baby steps

When you are interacting with a merchant on the phone, it’s best to keep the asks small. By that, we mean that you shouldn’t go for the big sale right away. When conducting phone sales, it is best to take it in baby steps instead of trying to sell them on your most comprehensive solution that you have to offer. For instance, you should explain the benefits of an affordable and smaller-scale service first to allow them to see the benefit before going into the other options that you have to offer.

Go through the paper work as a team

When you do make a sale, your next task is to get them through the paperwork and make sure that they remain a merchant under your account. To do that, you should provide superior service and walk them through the paperwork process as a team instead of leaving them to fend for themselves. This cooperation and the help that you are able to provide them will lead to a long and productive relationship between merchant and agent.

Posted by: Scott Shaw AT 06:45 pm   |  Permalink   |  Email

If you're looking to start a career as a credit card processing agent and begin selling merchant services, you're in luck. The demand for merchant services is on the rise as more and more businesses are moving towards accepting credit and debit card payments. This presents a great opportunity for individuals who are looking to start their own business or work in sales.

We will discuss what it takes to become a credit card processing agent, the steps you need to take to get started, and some tips on how to be successful in this industry.

What is a Credit Card Processing Agent?

First, let's define what a credit card processing agent is. A credit card processing agent, also known as a merchant services agent, is a salesperson who works with businesses to set up credit card processing services so that they can accept credit and debit card payments from their customers. These agents work with payment processing companies to provide businesses with the equipment and services they need to process card payments.

Becoming a credit card processing agent can be a lucrative career choice, as many businesses are willing to pay a commission for each new merchant account that is set up. This means that the more accounts you are able to sign up, the more money you can make.

Steps to Becoming a Credit Card Processing Agent

1. Research the Industry: Before you dive into becoming a credit card processing agent, it's important to do your research on the industry. Understand how credit card processing works, the different types of services that are offered, and the major players in the industry.

2. Obtain the Necessary Licenses and Certifications: In order to become a credit card processing agent, you may need to obtain certain licenses and certifications depending on the state you plan to operate in. Check with your local government to see what is required in your area.

3. Find a Payment Processing Company to Partner With: The next step is to find a payment processing company to partner with. Look for a company that offers competitive rates, reliable service, and good customer support. Some well-known payment processing companies include Square, PayPal, and Stripe.

4. Set Up Your Business: Once you've partnered with a payment processing company, you will need to set up your business. This may involve creating a business plan, registering your business with the appropriate government agencies, and setting up a business bank account.

5. Develop a Sales Strategy: As a credit card processing agent, your main job will be to sell merchant services to businesses. Develop a sales strategy that outlines how you will find and approach potential clients, how you will pitch your services, and how you will close deals.

Tips for Success as a Credit Card Processing Agent

1. Build Relationships: In the world of sales, building relationships is key. Take the time to get to know your clients, understand their needs, and provide them with personalized solutions. This will not only help you close more deals but also build a loyal customer base.

2. Stay Up to Date on Industry Trends: The payment processing industry is constantly evolving, with new technology and regulations being introduced all the time. Stay up to date on industry trends and be proactive in adapting your sales strategy to take advantage of new opportunities.

3. Provide Excellent Customer Service: Once you've signed up a client, it's important to continue providing them with excellent customer service. Be responsive to their needs, address any issues promptly, and go above and beyond to ensure their satisfaction.

4. Network: Networking is an important part of building a successful career as a credit card processing agent. Attend industry events, join networking groups, and connect with other professionals in the field to expand your reach and generate new leads.

5. Set Realistic Goals: Set realistic goals for yourself in terms of the number of merchant accounts you want to sign up each month, the amount of commission you want to earn, and the growth of your business. By setting specific goals, you can track your progress and stay motivated.

In conclusion, becoming a credit card processing agent can be a rewarding career choice for individuals who are looking to start their own business or work in sales. By following the steps outlined in this guide and implementing the tips for success, you can set yourself up for a successful career in the merchant services industry. Good luck!

In the competitive world of merchant services, offering white label payment processing solutions can be a game-changer for building your Merchant Services ISO (Independent Sales Organization) business. White label payment processing allows you to rebrand and resell payment processing services under your own company name, giving you the opportunity to offer a wide range of payment solutions to your clients without the need to invest in developing your own technology. In this article, we will explore the benefits of using white label payment processing to build your Merchant Services ISO and how it can help you grow your business.

1. Expand Your Service Offerings

One of the key benefits of using white label payment processing is the ability to expand your service offerings without the need to invest in developing your own payment processing technology. By partnering with a white label payment processing provider, you can offer a wide range of payment solutions to your clients, such as credit card processing, mobile payments, e-commerce solutions, and more. This allows you to meet the diverse needs of your clients and attract new business by offering a comprehensive suite of payment processing services.

2. Enhance Your Brand Visibility

White label payment processing allows you to rebrand payment processing services under your own company name, logo, and branding. This not only enhances your brand visibility but also helps you establish credibility and trust with your clients. By offering white label payment processing solutions, you can position yourself as a one-stop shop for all of your clients' payment processing needs, building brand recognition and loyalty in the process.

3. Increase Revenue Opportunities

By offering white label payment processing solutions, you can create new revenue streams for your Merchant Services ISO business. You can earn revenue through client onboarding fees, monthly processing fees, and other related services. Additionally, white label payment processing allows you to set your own pricing and margins, giving you the flexibility to tailor your pricing strategies to maximize profitability.

4. Streamline Operations

White label payment processing can help you streamline your operations by consolidating your payment processing services under one provider. This simplifies the management of your merchant accounts, reduces administrative overhead, and allows you to focus on growing your business. By partnering with a white label payment processing provider, you can access a range of tools and resources to help you manage your client accounts more efficiently and effectively.

5. Improve Customer Satisfaction

Offering white label payment processing solutions can help you improve customer satisfaction by providing your clients with a seamless and reliable payment processing experience. White label payment processing providers typically offer robust customer support services, advanced reporting tools, and fraud protection services to help you meet the needs of your clients. By offering high-quality payment processing services, you can enhance your reputation as a trusted advisor and build long-lasting relationships with your clients.

6. Stay Competitive in the Market

In the fast-paced world of merchant services, staying competitive is crucial to the success of your business. By offering white label payment processing solutions, you can differentiate yourself from your competitors and stand out in the market. White label payment processing allows you to provide innovative and customizable payment solutions to your clients, giving you a competitive edge and helping you attract new business in a crowded marketplace.

In conclusion, white label payment processing can be a valuable tool for building your Merchant Services ISO business. By expanding your service offerings, enhancing your brand visibility, increasing revenue opportunities, streamlining operations, improving customer satisfaction, and staying competitive in the market, white label payment processing can help you grow your business and achieve long-term success. Consider partnering with a white label payment processing provider to take advantage of these benefits and take your Merchant Services ISO to the next level.

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